Streamlining the Payroll Process Be a Hero in 3 Easy Steps Save Time and Money by Going Paperless Michael Johnson| Presenter Vice President of ePayments [email protected]| 1-800-777-7359 www.relyco.com
• According to a Bloomberg Businessweek article 2013 is shaping up to be a rough year:
• low growth, persistently high unemployment, and huge amounts of debt
• the monthly trade deficit in manufactured goods to a record
• Today’s monetary situation is more difficult
• U.S. exports fell more
“No matter who wins the election, from a truly economic standpoint, 2013 will be an extremely challenging year,” says David Rosenberg, chief economist at Gluskin Sheff + Associates.
The “Paper” Problem
Reality: The End of Paper Checks
• The Federal Government is phasing out paper checks for all benefit programs - 73 million payments a month
• More than 76% of individual tax refunds were delivered via direct deposit in 2011
• More than 68% of Corporation are writing less checks
• Consumer moving rapidly to paperless payments and statements – Where is your checkbook?
By The Numbers
$10.00 - $25.00
How much does it cost to reprint the average tax document?
What is the average cost per document to produce and distribute pay checks or direct deposit advices?
On average, how many times is a pay stub or check touched before it reaches the employee?
Payroll Cards - Online Paystubs
W-2s & 1099s
NO COST TO YOU!
Potential Cost Savings to the EmployerSave Time
• Check delivery (manager/employee time)
• Adjustments and other off-cycle payments
• Termination pay/Lost/Stolen replacement
• Escheatment - the process of identifying customer's
deposit and accounts that are considered abandoned
• Number/frequency of paper checks
• Pay stub production/delivery
• Bank fees
• Fraudulent check losses
Employee Benefits• Employees will never be hassled by cashing a check again…
• Employees will not waste time picking up and cashing checks
• Notify employees by Text Message when their pay is available
• Employees can make purchases on payday and over the Internet
• Allow for Instant Issue Branded Visa cards on date of hire
• Worldwide locations to access money - 43,000+ locations
• All Point and Money Pass Networks
• Surcharge free ATM access
• Visa Branded Card with no overdraft
• and More…….
• Easy bill payments
• Easy transfer of money from card to any bank
• Cash back available when using the card
• Text Message Alerts
• Financial tools
PIN Debit Cash BackMoney Orders
OTC Cash AdvanceMoney Management
Purchases & PaymentsSignature Debit
Request a CheckBill Payment
Money MovementACH Transfer to a Bank Account
Card to Card Transfer
Account AccessAutomated Response Phone
Consumer Web PortalATM Inquiry
SMS Text Alerts24x7 Live Agents
Why - rapid! Payroll Card
Positive EMPLOYEE Experience:• Always free 24/7/365 customer support & service thru
phone, on-line and text
• The rapid! Payroll Card has more pay to the penny access points for the employee
• We never allow the card to overdraft charging the cardholder excessive fees
• Always an instant issue Visa branded card - compliant in all 50 states.
• Portability – employee can use at another job or for reloading and eliminates problems with termination payments
• Fee Schedule that promotes acceptance & usage by employees
Why - rapid! Payroll Card
Positive EMPLOYER Experience• No cost to the employer all cards and materials are
FREE when ordered and/or as needed
• Customizable card, carrier, marketing materials and roll out plan
• Card Linking for lost/stolen card (non-event for employer)
• Developing and implementing long-term strategy and support
• A PayCard program that employees view as a benefit
• A effective deployment strategy
• Ongoing support and communication
Must Provide… • Payroll Card Education• Training on Use• An Employee Satisfaction guide
Employee Training and Education is Critical for Adoption!
Successful Payroll Card Program
Coming Soon: Mobile Application
Cardholders can access their card
accounts on their iPhones® or AndroidTM
powered devices. The first generation
focuses on the following standard
account maintenance functions:
• View current balance
• View recent transactions
• View transaction details
• Transfer fund
• Enroll & Manage Text Alerts
• Locate an ATM
The cardholder will have direct access to manage their money when on the go. The application provides a secure means to perform the most commonly used account maintenance functions as well as provides quick access to value added features such as finding ATM locations.
Paystubs/W2s & 1099s Secure Cloud Environment
Paperless Payroll and Tax FormsBenefits for Employees
Paperless Payroll and Tax Forms–Benefits for Employers
DocAgent Mobile App
Solution Profile• Penmac Staffing Services, Inc. – Woman Owned
• Employees: 20,000 every year
• Locations: 30 Offices in 11 states
• The Challenge the cost both in dollars and environmental resources—to get people paid each week - Can’t wait for a paycheck to arrive in the mail -employees drive to our offices to pick up their paycheck - led to literally hundreds of thousands of dollars in lost billable time, inefficiencies or expense not to mention lost wages for our employees.
• The Solution Rapid Payroll Cards
• The Benefits
• Eliminated almost all checks
• 98% Direct Deposit
• Save $100,000 a year
Carmen Rost, Payroll Manager “We wereamazed at the level of resources used to deliver payroll each week”,Penmac was paying 75% of their workforce via paper check with theremaining on direct deposit.
Ashley Bruton, Manager of Marketing Communications for Richland Two, has estimated the reduction in paper from just this single application will save around 24 trees a year.
Richland School District TwoColumbia, South Carolina
Students: 24,000+Employees: 4,000+
The Challenge | Cut the 1.5 Day timeframe and associated costs of handling paper pay stubs each semi-monthly period. Reduce paper as much as possible in all business processes .