payroll processing improvement
Compliance and Accountability Improvement
- Payroll was changed from semi-monthly to bi-weekly to eliminate cost variations between periods and normalize the payroll reporting and cost associated with projects.
- Retraining an understanding on how to manage exceptions to payroll rules, such as leave without pay, salary increases and overtime rules were all incorporated into the electronic system and rules and Forest. That's making the company full compliance with the DOL and state rules.
- Both systems, GCS accounting and Payroll for ADP were normalized with the pay types entries to facilitate the integration of a module for faster and 100% accurate process. The QA/QC for the payroll was reduced from several days and inconsistency in cost to less than an hour each time.
Improve Cash Flow
- Elimination of a full-time dedicated person for payroll, providing real cost savings on cost processing and time for the overall company.
- By reducing the processing time, less time is expended my Accounting in reviewing and QA/QC the payroll thus reducing the processing cost by 28.5%
About The Author
Previous positions in corporate management include Chief Financial Officer, Vice President of Client Services, Senior Vice-President of Financial Planning and Analysis, Chief Operating Officer, and Controller among these corporate roles. As Chief Operating Officer, Gregory was responsible for increasing revenues from $180M to $280M within a 14 month period. As Chief Financial Officer of over for federal Contracting businesses, including 8(a) and Small Disadvantaged Businesses, his leadership resulted in dozens of contract awards.
Gregory holds an MA in Development Banking from The American University in Washington, DC and a masters in Engineering from UNPHU.
If you would like to discuss the items on this article or to know how we can help you to improve your processes and cost with real savings, please contact us at any of the numbers listed below or by email at info-gl-solutionsinc.com.