Solution Profile | Business Services - Events

Business Services Company Environment

This customer came to Payroll Data after some challenges they experienced with a vendor incorrectly handling their 401k transmittals. The challenge with the 401k allowed the company's HR team to explore alternative vendors. While the need to properly manage 401k was of utmost importance, through the analysis process with Payroll Data, the customer realized additional business process solutions.

Key Solution Considerations | Business Services Company

401K Reconciliation

When offering a 401k benefit to employees, employers must submit updated contributions and funds to the plan administrator, typically after each pay run. Depending on the makeup of the plan and workforce, this completion process can become time consuming and involve many people.

Prior to working with Payroll Data, a previous provider mishandled some areas of the 401k process, causing the customer’s finance team to work overtime to correct. This situation drove the customer to look for a payroll provider that could not only handle its basic payroll needs, but also deliver a 401k reconciliation solution meeting stringent requirements.

Payroll Data delivered a simple 401k reconciliation and transmittal process that streamlined the baseline functionality and allowed the customer complete control of its 401k.

Buddy Punching

Due to the customers larger work areas, it was difficult to monitor “Buddy Punching”. The Payroll Data team was able to present a complete Time and Labor Management solution to accurately account for employee hours worked and eliminate the possibility of Buddy Punching. 

Buddy Punching is the act of employees either clocking in or clocking out another co-worker. A typical example of Buddy Punching involves a friend punching a co-worker “in” prior to the co-worker’s arrival. In employee hours worked, 5–10 minutes of isolated cases might seem insignificant. When examined across a business’s entire workforce and spread out over a year, 5–10 minute Buddy Punches can cost a business thousands of paid, yet unearned hours. 

Payroll Data recommended implementing Bio-metric hand readers for employees to punch in and out. Bio-metric units today are designed to handle even the most rigorous environments and completely eliminate Buddy Punching. For this customer Bio-metric clocks allow all employees the benefit of accuracy in tracking hours worked. 

Local Tax Processing

The customer delivers services across many states, some of which not only have State payroll taxes to manage, but also local payroll tax calculations. This scenario created a real challenge to properly monitor local tax obligations when employees moved across job sites and locations.

Payroll Data works with a Geospatial tax processing application that accurately monitors and applies local tax liabilities in real time. Because of this proprietary feature the customer now processes local payroll tax through Payroll Data, saving untold time and money!  

Job Costing

Job costing is the process of tracking employee time worked and associating it to specific jobs. As an event facilitator to businesses across the country, it was very important to the customer that any payroll application could handle job costing needs.

Payroll Data can track all employee hours worked via Job Codes, which the customer uses to properly bill clients and allocate employee resources in the field. The easy to use report writer, native to all Payroll Data solutions, allows management easy access to information and a clear view of its business, resulting in better business planning decisions.  

Time off Requests

The process of managing employee time off requests becomes more complex as a business grows. Prior to working with Payroll Data, employees and managers used a manual process of exchanging paperwork back and forth. Requests would pass back and forth between different managers before finally making it to the Payroll/HR group. This process was extremely inefficient and time consuming.

Within the Payroll Data HRIS application, businesses can manage every aspect of employee time off requests. Employees access their information online and submit a simple form that notifies their superiors and the payroll department. All approvals and rejections are communicated electronically within the same application, keeping everyone on the same page. Employee vacations are viewed via a simple to read calendar.

Not only are time off requests simple to manage, the HRIS application runs within the same database as payroll, so there is no need to manually enter vacation. Once approved, time off is automatically applied to the proper pay period.