How ShareForce Helped Vopak Overcome Manual Processes and Simplify Global Share Plan Management

How Vopak streamlined its share plan processes, with a user-friendly platform.

Headquarters

Rotterdam, Netherlands

Products Used

ShareForce

Headquarters

Rotterdam, Netherlands

Products Used

ShareForce

Before ShareForce

Managing share plans across a global workforce involved numerous manual processes, making the system time-consuming and prone to delays.

The reliance on Excel increased the likelihood of human errors, particularly when handling complex processes such as vesting schedules, tax applications, and share transfers.

Ensuring compliance across different jurisdictions and aligning with tax regulations proved challenging without a centralised platform.

Managing events like accelerated vesting, ad hoc award issues, or adjustments required significant manual intervention, increasing the administrative burden.

After ShareForce

ShareForce provided robust support for key processes such as granting, vesting, and transferring shares.

The award vesting process became significantly easier to track and execute, even in complex scenarios like accelerated vesting due to unforeseen events.

The platform’s centralised approach allowed Vopak to manage a global sharebased program efficiently, accommodating various tax applications and cash or equity-based incentives.

ShareForce enabled comprehensive reporting for auditors, providing a single source of truth for ad hoc award issues, adjustments, and tax statements.

More than 300 listed and private multinational companies in 30 countries

About Vopak

Vopak is a leading independent tank storage company specialising in the storage and handling of bulk liquids, gases, and chemicals. With a global presence, Vopak supports industries with crucial storage infrastructure and services, ensuring efficient and safe supply chain operations.

Visit Vopak Website

“Being a very small team responsible for a global plan, ShareForce really supports us in maintaining the full plan. Not only from an HR perspective but also from tax and finance —controlling accounting, trades, and participant communications. ShareForce has truly made managing our share plans easier and more efficient.”

Problem

Tedious and Time-Consuming Manual Processes

As a company with a significant global workforce and diverse incentive structures, managing share-based compensation programs presented unique challenges. Before implementing ShareForce, Vopak managed its share plans using Excel spreadsheets. This manual approach came with inherent limitations.

Solution

Exceptional Client Service

The ShareForce team delivered excellent customer support, ensuring smooth implementation and ongoing assistance for Vopak’s share plan administrators.

Improved Oversight

Vopak’s finance teams could update annual costs and invoice business units with greater accuracy and ease.

Enhanced Reporting
ShareForce enabled comprehensive reporting for auditors, providing a single source of truth for ad hoc award issues, adjustments, and tax statements.

Increased User Satisfaction

Mareille, Director of Global Compensation and Benefits at Vopak, highlighted the platform’s user-friendly interface and its value in maintaining clear overviews of activities.

Result

Streamlined Operations

By adopting ShareForce, Vopak overcame the inefficiencies of manual processes and embraced a seamless, centralised solution for managing its global share plans. The platform has proven invaluable in streamlining operations, ensuring compliance, and enhancing user satisfaction, setting Vopak up for continued success in managing its employee incentives.