Paychex: Small Businesses Can Save with Bundled Services
A new Paychex white paper shows how small business owners can save time and money by integrating payroll processing and 401(k) administration
ROCHESTER, N.Y.--(BUSINESS WIRE)-- Small businesses can gain significant benefits by using one source for payroll processing and 401(k) administration, according to a new white paper issued by Paychex, Inc.
The new white paper, titled "Payroll and a 401(k) Plan Go Better Together," discusses how bundling payroll with 401(k) services makes sense because the same employee information is required for both processes. As a result, integrating 401(k) with payroll offers a range of advantages--including saving time and money, ensuring greater accuracy, and establishing better security.
"Once small business owners understand the multiple benefits of linking the company's 401(k) plan to payroll, they see that it's a path toward process improvement for their businesses," said Janice Nearen-Bell, vice president, Human Resource Services Sales for Paychex. "There's no other option that offers this much efficiency. For best results, payroll and 401(k) belong together."
To determine if payroll integration is right for their businesses, Paychex experts say business owners should consider the answers to specific questions, such as:
-- How much vendor contact is required to complete specific tasks? -- How much time is spent inputting data on a vendor's Web site? -- What is the potential cost of a keying error, and what does it cost to find and correct errors?
The new white paper also presents a chart that helps readers determine the estimated time spent each pay period on administrative tasks. Through this calculation, business owners can obtain a personalized estimation of the time they can save through outsourcing 401(k) administration with their payroll provider.
To read the Paychex payroll integration white paper, visit https://www.paychex.com/secure/whitepaper/payroll401k.aspx. The white paper will also be available in the Paychex booth (513) at the ASPPA 401(k) Summit, taking place March 14-16 at the Orlando World Center Marriott Resort and Convention Center.
Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex(R). Human resource services include 401(k) plan recordkeeping, health insurance, workers' compensation administration, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 554,000 payroll clients nationwide as of May 31, 2009. For more information about Paychex and our products, visit www.paychex.com.
Editor's Note: Journalists can access the white paper by clicking here.
Source: Paychex, Inc.
Released March 12, 2010