Inlett Saves Big Bucks on Payroll and Payables
Who is Inlett
Formed in 1992, Inlett Inc.’s manages commercial and industrial properties in Western Canada. They have expanded property holdings and diversified to computer systems applications, hosting and networking, business management, automotive equipment, warehouse distribution and remanufacturing. Inlett’s corporate office is located in Winnipeg, Manitoba.
Tired of Courier Charges
With approximately 45 staff located in Manitoba, British Columbia and Saskatchewan, Wendi was tired of using a courier to deliver payroll cheques bi-monthly and worried if the cheques would get to the staff on time.
Discovered the Advantages of Direct Deposit
Telpay integrates with QuickBooks to eliminate double keying payroll information and Wendi liked the flexibility to calculate her own payroll. Wendi decided to eliminate her outsourced payroll company and process her own payroll. Now she pays employees with Telpay’s direct deposit, emails the pay stubs and has no more courier hassles. She no longer stands in line at a bank to pay government remittances, because they are also paid through Telpay. And best of all, staff get their payroll deposited directly into their bank account to easily access.
Cost Savings Payroll
By bringing their payroll in-house and using Telpay for direct deposit, Inlett has streamlined their payroll process and have seen an annual cost saving of $3,000 in direct costs of payroll, not including indirect costs. Wendi liked it so much she changed over their remanufacturing company of 60 employees to Telpay on January 2013, for an additional annual cost savings of over $7,000.
Wendi liked Telpay so much that she now uses it for payables too. Using the auto import feature, Telpay integrates with QuickBooks to eliminate double keying her bill payments. With Telpay she no longer has to sign 120–170 cheques a month. This created internal efficiencies, saved on postage, envelopes and created a stronger relationship with her vendors. On top of it all, she saved time in reconciling her bank statement with just one total hitting the bank. With one company alone, the bank statement went from 6 pages to just 2 pages, a huge time savings when reconciling!
Better yet with Telpay’s remote authorization feature, Wendi can approve payroll and payables from her laptop or smart phone. This offers Wendi the option to approve payments from home, her son’s curling events and time to take holidays.
Cost Savings Payables
The savings in direct costs such postage, printed cheques and stationary, and bank charges well exceeded the Telpay charge per vendor. An indirect cost like wages for processing payment decreased substantially. It provides a tool for better cash flow control, as one can process payments well in advance, so you know your cash requirements. Her time has been freed up to manage and develop new business.