Download - Going Paperless in Payroll
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Streamlining the Payroll ProcessBe 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
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What is Going On?
• A new survey of 50 of the nation’s 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-banked
• Monthly service fees also increased
• Overdraft fees increased
• Why: Durbin Amendment restricting the amount a bank can charge a retailer on swipe fees
• Banks are for profit and need to increase revenue – fees are their source
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More News
• 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.
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WasteCosts
Time Hassle
The “Paper” Problem
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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?
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By The Numbers
81%
57%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Paper Checks
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The Costs
$10.00 - $25.00
How much does it cost to reprint the average tax document?
$ 1.90
What is the average cost per document to produce and distribute pay checks or direct deposit advices?
9 times
On average, how many times is a pay stub or check touched before it reaches the employee?
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The Solution
Payroll Cards - Online Paystubs
W-2s & 1099s
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Employer Benefits
FREE!
NO COST TO YOU!
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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
Reduce
• Number/frequency of paper checks
• Pay stub production/delivery
• Bank fees
• Fraudulent check losses
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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…….
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Employee Benefits
• Easy bill payments
• Easy transfer of money from card to any bank
• Cash back available when using the card
• Text Message Alerts
• Financial tools
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Cash AccessATM
PIN Debit Cash BackMoney Orders
OTC Cash AdvanceMoney Management
Interest Savings
Purchases & PaymentsSignature Debit
PIN DebitChekToday
Request a CheckBill Payment
Money MovementACH Transfer to a Bank Account
Card to Card Transfer
EmployeeFinancial Tools
Account AccessAutomated Response Phone
Consumer Web PortalATM Inquiry
SMS Text Alerts24x7 Live Agents
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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
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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
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Must Provide… • Payroll Card Education• Training on Use• An Employee Satisfaction guide
Employee Training and Education is Critical for Adoption!
Successful Payroll Card Program
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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.
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Paystubs/W2s & 1099s Secure Cloud Environment
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Paperless Payroll and Tax FormsBenefits for Employees
Opt-In - for Paperless W-2s and Pay Stubs
Self-Service
View – Print – EmailEmployee-Authorized Access - Password Protection
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Less Timeto Produce, Handle, and Distribute
Greater Security
Reduce Support Calls
Paperless Payroll and Tax Forms–Benefits for Employers
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DocAgent Mobile App
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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.
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Solution Profile
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 .
The Solution | DocAgent - Pay Stubs Online secure document portal.
The Benefits•Processing 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
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Possible Next Steps
• Request Additional Information
– Agreement
– Rate Schedule
• Sign up for Rapid Card Program!
• Get Started Right Away!
• Request DocAgent Demo
• Plug Your Numbers into ROI Calculator to See How Much You’ll Save
• Easy Implementation
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Where Do We Go From Here?
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Questions?
10/2/2012
26
www.RELYCO.com1-800-777-7359
Michael [email protected] | Digital Designs, Inc.
Phone: 800-948-6293 ext. 123