If your business is still cutting paper checks, you’re missing out on an opportunity to save thousands and into the millions of dollars per year – depending on the size of your business – not to mention protect employees and reduce your carbon footprint. In honor of Earth Day, April 22, the payroll providers at DM Payroll Services offer reasons to go paperless with your paydays and tools for calculating your savings.

Paperless Benefits for Employers

  • Reduces the cost associated with cutting and distributing checks — on average, $3 per check –  resulting in savings of as much as $19,000 per year for a business with 100 employees.
  • Allows your human resources and payroll staff to allocate time among other projects instead of handling the physical aspects of payroll.
  • Provides timely payments and reliable deposit schedules even if payday falls on a weekend or holiday.
  • Reduces costs from rewriting lost or stolen checks and check fraud.
  • Eliminates the hassle of manually managing payroll and locating information, and provides easy-to-use online transaction reports.

Paperless Benefits for Employees

  • Increases security for sensitive employee information and lowers risk of identity theft — it’s estimated that 85 percent of identity theft cases begin with a lost or stolen check or billing statement.
  • Permits easy access to payroll information, which is available online 24/7.
  • Eliminates trips to the bank and check-cashing fees.
  • Deposits funds automatically for immediate availability on payday.

Paperless Benefits for the Environment  

  • Cuts paper use in the office significantly — the EPA estimates paper products account for 27 percent of municipal solid waste, or roughly 69 million tons in the waste stream.
  • Conserves water and prevents wastewater from being discharged into lakes, streams and rivers.
  • Prevents greenhouse gases from being emitted into the atmosphere.
  • Preserves the cutting of trees for office paper use and preserves forestland.

Calculate Your Savings

More Benefits of DM Payroll Services

DM Payroll Services is a national provider of payroll and human resources services. With more than 50 year of payroll expertise, DM Payroll Services surpasses traditional processing models to provide a payroll program to meet your needs. Convenient and time-saving features include:

  • Unique ability to download payroll journal entries to accounting software
  • Visa paycard for non-banking employees
  • Accounting for group term life insurance
  • Vacation accrual system tracking
  • Online human resource module
  • Ability to update benefits and employees master records
  • Various management oversight tools
  • Secured, 24/7 online access
  • Technical support, including screen sharing
  • Robust, customizable reporting

To take advantage of paperless or other payroll features today, contact our DM Payroll Services providers in Michigan or Houston.

Sources: www.elctronicpayments.org, www.epa.gov, www.shrm.org, and www.payitgreen.org