Billing Week Stress to Collections Success Webinar.pdf
Going Paperless in Payroll
1. 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
mjohnson@relyco.com | 1-800-777-7359
www.relyco.com
2. 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
3. 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.
5. 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?
6. By The Numbers
90%
81%
80%
Paper Checks
70%
60%
57%
50%
40%
30%
20%
10%
0%
7. The Costs
How much does it cost to reprint the average tax
document?
$10.00 - $25.00
What is the average cost per document to
produce and distribute pay checks or direct
deposit advices? $ 1.90
On average, how many times is a pay stub
or check touched before it reaches the
employee?
9 times
10. Potential Cost Savings to the Employer
Save 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
11. 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…….
12. 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
13. EmployeeFinancial Tools
Cash Access Money Movement
ATM ACH Transfer to a Bank Account
PIN Debit Cash Back Card to Card Transfer
Money Orders
OTC Cash Advance
Money Management
Interest Savings
Purchases & Payments Account Access
Signature Debit Automated Response Phone
PIN Debit Consumer Web Portal
ChekToday ATM Inquiry
Request a Check SMS Text Alerts
Bill Payment 24x7 Live Agents
14. 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
15. 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
16. Successful Payroll Card Program
Employee Training and Education is
Critical for Adoption!
Must Provide…
• Payroll Card Education
• Training on Use
• An Employee Satisfaction guide
17. 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.
22. Solution Profile
• Penmac Staffing Services, Inc. – Woman Owned
• Employees: 20,000 every year
• Locations: 30 Offices in 11 states
Carmen Rost, Payroll • The Challenge the cost both in dollars and
Manager “We were environmental resources—to get people paid each
amazed at the level of
resources used to week - Can’t wait for a paycheck to arrive in the mail -
deliver payroll each employees drive to our offices to pick up their
week”, paycheck - led to literally hundreds of thousands of
Penmac was paying
75% of their workforce
dollars in lost billable time, inefficiencies or expense
via paper check with not to mention lost wages for our employees.
the • The Solution Rapid Payroll Cards
remaining on direct
deposit. • The Benefits
• Eliminated almost all checks
• 98% Direct Deposit
• Save $100,000 a year
23. Solution Profile
Richland School District Two
Columbia, South Carolina
Students: 24,000+
Ashley Bruton, Employees: 4,000+
Manager of
Marketing The Challenge | Cut the 1.5 Day timeframe and associated costs
Communications of handling paper pay stubs each semi-monthly period.
for Richland
Two, has Reduce paper as much as possible in all business processes .
estimated the
reduction in The Solution | DocAgent - Pay Stubs Online secure document portal.
paper from just
this single The Benefits
application will •Processing time reduced to 2.5 HOURS vs. 1.5 DAYS
save around 24 •Employee self-service 24 x 7 x 365
trees a year.
•Postage savings of $2,600 per month
•Saves 24 Trees each year
24. Possible Next Steps
• Request DocAgent Demo
• Plug Your Numbers into ROI
Calculator to See How Much
You’ll Save
• Easy Implementation
• Request Additional Information
– Agreement
– Rate Schedule
• Sign up for Rapid Card Program!
• Get Started Right Away!
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)
