Streamlining the Payroll ProcessBe a Hero in 3 Easy Steps
Save Time and Money by Going Paperless
Michael Johnson| Presenter Vice President of ePaymentsmjohnson@relyco.com | 1-800-777-7359 www.relyco.com
What is Going On?A new survey of 50 of the nations largest banks finds that basic banking costs jumped in just about every category in 2012.The minimum amount required to open an account jumped The higher this minimum becomes, the more poorer customers may be forced to go un-bankedMonthly service fees also increased Overdraft fees increasedWhy: Durbin Amendment restricting the amount a bank can charge a retailer on swipe feesBanks are for profit and need to increase revenue fees are their source
More NewsAccording to a Bloomberg Businessweek article 2013 is shaping up to be a rough year:low growth, persistently high unemployment, and huge amounts of debtthe monthly trade deficit in manufactured goods to a recordTodays 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. WasteCostsTimeHassleThe Paper Problem
Reality: The End of Paper Checks The Federal Government is phasing out paper checks for all benefit programs - 73 million payments a monthMore than 76% of individual tax refunds were delivered via direct deposit in 2011More than 68% of Corporation are writing less checksConsumer moving rapidly to paperless payments and statements Where is your checkbook?
By The NumbersThe Costs$10.00 - $25.00
How much does it cost to reprint the average tax document?
$ 1.90What is the average cost per document to produce and distribute pay checks or direct deposit advices?9 timesOn average, how many times is a pay stub or check touched before it reaches the employee?The SolutionPayroll Cards - Online PaystubsW-2s & 1099s
FREE!NO COST TO YOU!
Potential Cost Savings to the EmployerSave TimeCheck delivery (manager/employee time)Adjustments and other off-cycle paymentsTermination pay/Lost/Stolen replacementEscheatment - the process of identifying customer's deposit and accounts that are considered abandoned ReduceNumber/frequency of paper checksPay stub production/deliveryBank fees Fraudulent check losses
Employee BenefitsEmployees will never be hassled by cashing a check againEmployees will not waste time picking up and cashing checksNotify employees by Text Message when their pay is available Employees can make purchases on payday and over the InternetAllow for Instant Issue Branded Visa cards on date of hireWorldwide 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 paymentsEasy transfer of money from card to any bankCash back available when using the cardText Message AlertsFinancial tools
Cash AccessATMPIN Debit Cash BackMoney OrdersOTC Cash AdvanceMoney ManagementInterest SavingsPurchases & PaymentsSignature DebitPIN DebitChekTodayRequest a CheckBill PaymentMoney MovementACH Transfer to a Bank AccountCard to Card TransferEmployeeFinancial ToolsAccount AccessAutomated Response PhoneConsumer Web PortalATM InquirySMS Text Alerts24x7 Live Agents
Why - rapid! Payroll Card Positive EMPLOYEE Experience:Always free 24/7/365 customer support & service thru phone, on-line and textThe rapid! Payroll Card has more pay to the penny access points for the employeeWe never allow the card to overdraft charging the cardholder excessive feesAlways 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 paymentsFee Schedule that promotes acceptance & usage by employees
Customer centric PayCard providerNo cost to the employer all cards and materials are FREE when ordered and/or as neededAlways free 24/7/365 customer support & service before, during and ongoing thru live operator, IVR, on-line and textFee Schedule that promotes acceptance & usage by employeesThe rapid! PayCard has more pay to the penny access points for the employeeWe never allow the card to overdraft charging the cardholder excessive feesAlways an instant issue Visa branded card which means our program is compliant in all 50 states.Portability employee can use at another job or for reloading and eliminates problems with termination paymentsCustomizable card, carrier, marketing materials and roll out planCard Linking for lost/stolen card (non-event for employer)
14Why - rapid! Payroll Card Positive EMPLOYER ExperienceNo cost to the employer all cards and materials are FREE when ordered and/or as neededCustomizable card, carrier, marketing materials and roll out planCard 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 EducationTraining on UseAn Employee Satisfaction guideEmployee Training and Education is Critical for Adoption!Successful Payroll Card Program
Coming Soon: Mobile ApplicationCardholders 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 ATMThe 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 Forms Benefits for EmployeesOpt-In - for Paperless W-2s and Pay StubsSelf-ServiceView Print Email
Employee-Authorized Access - Password Protection
Less Timeto Produce, Handle, and DistributeGreater SecurityReduce Support CallsPaperless Payroll and Tax Forms Benefits for Employers
DocAgent Mobile App
Solution ProfilePenmac Staffing Services, Inc. Woman OwnedEmployees: 20,000 every yearLocations: 30 Offices in 11 statesThe Challenge the cost both in dollars and environmental resourcesto get people paid each week - Cant 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 CardsThe BenefitsEliminated almost all checks98% Direct DepositSave $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.Solution ProfileAshley 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
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 .
The Solution | DocAgent - Pay Stubs Online secure document portal.
The BenefitsProcessing time reduced to 2.5 HOURS vs. 1.5 DAYS Employee self-service 24 x 7 x 365 Postage savings of $2,600 per month Saves 24 Trees each year
Possible Next StepsRequest Additional InformationAgreementRate ScheduleSign up for Rapid Card Program!Get Started Right Away!Request DocAgent DemoPlug Your Numbers into ROI Calculator to See How Much Youll SaveEasy Implementation
Where Do We Go From Here?
Questions?9/19/201226www.RELYCO.com1-800-777-7359Michael Johnsonmjohnson@relyco.comManager | Digital Designs, Inc.Phone: 800-948-6293 ext. 123