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Doc agent relyco paperless tax webinar 3 6-13
1. 5 Time and Money Savings Tips for
Distributing W2s, 1099s and Paystubs
Michael Johnson – VP ePayments Relyco
Kevin Smith - Sales Director Digital Designs, Inc.
March 7, 2013
2. The “Paper” Problem
Paper is inefficient, costs time and money
Need Evidence?
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
UK Phasing out checks – US Next?
Consumer moving rapidly to paperless payments
and statements – Where is your checkbook?
We live in a self-service world
3. Why Is The Paperless Movement So Strong?
Time
Green
Initiatives
Costs
4. Do you know what the average cost per
document is to produce and distribute pay
checks or direct deposit advices?
$1.90
(Source: NACHA – The Electronic Payments Association)
5. Do you know the average number of
times a paper check or stub is touched
before reaching the employee?
9
(Source: NACHA – The Electronic Payments Association)
6. Do You Know the average cost to reprint
a lost tax document?
$10-25
(Source: NACHA – The Electronic Payments Association)
7. Do you know the average amount
of documents lost or misplaced in
an organization?
7.5%
(Source: PriceWaterhouseCoopers)
18. Best Practices = REACH
The 5 Steps
Recommend Direct Deposit & Online W-2s to
Employees
Eliminate Print Production and Distribution Costs
Allow Secure Web / Workstation Access
Conform Easily to IRS W-2 Regulations
Host Documents in a Secure Cloud Environment
19. What We Covered
The Problem
The Benefits
Case Study
Demonstration
Q&A
Where Do We Go From Here?
Less Time to Produce, Handle, and Distribute Greater Security Reduce Support Calls
Instituting Best Practices for Going Paperless in Payroll ( R E A C H ) R ecommend Direct Deposit E liminate Production & Distribution Costs A llow Secure Web / Workstation Access (Employee PCs, Kiosks, Break Rooms) C onform Easily to IRS W-2 Regulations H ost Documents in a Secure SaaS Environment