Wage compliance is a big problem
Workers across different industries are being underpaid and companies are losing millions and facing jail time because of
Inconsistent and error-prone enterprise agreement interpretation processes
Lack of traceability and transparency in payment decisions
Limited automation and inefficiency in handling updates
Focusing on payroll symptoms rather than the cause
In 2023-2024 there was $473 million for 160,000 workers in underpayment identified by Fair Work Australia taking back-payments to workers to $1.5 billion across the last three years
Governments are cracking down on this
Starting January 1, 2025, the Closing the Loopholes bill takes effect in Australia, pushing boards to ensure compliance and avoid a culture of deliberate underpayment risks.
The penalty is the greater of three times the underpayment or $7.825 million, or if the underpayment can’t be determined, $7.825 million.
The penalty is up to 10 years in prison and the greater of three times the underpayment or $1.565 million, or $1.565 million if the underpayment cannot be determined.
The solution: TraceEzy
For the first time a product that ties together all the relevant players, including the Board, Fair Work, Industry Bodies, IR, ER, HR, Legal, Finance, Payroll, Operations, Staff and the vendors
100% Traceability & Governance
Ensures transparency, controls, and accountability in pay decisions, reducing compliance risks.
Target 100%-500% increase in Speed & Intelligence
Accelerates processes with AI-powered automation, delivering faster, consistent outcomes across regions and divisions.
Risk Reduction
Provides actionable insights from data while mitigating risks through "always-on" real-time auditing and robust controls.
Find out more
Reach out to us using the contact form below if you have any further questions or would like to use TraceEzy