Tag: Integrated Payroll

Better payroll is a critical need for dealers. But many are settling for solutions that limit their ability to process payroll efficiently, forcing tradeoffs, and keeping teams from more meaningful HR activities. In addition, many dealers sacrifice payroll efficiency simply due to the fear of change. We sat down with Will Boudreaux, CEO of Netchex, to help our dealer partners understand how a modernized, integrated payroll solution can help as year-end approaches.

Why Now?

Q: With year-end approaching, many controllers who might want to upgrade their payroll solution might be concerned about timing. Why is now a good time to act?

A: Businesses must determine the best time for a change considering other initiatives and priorities. But a start at the beginning of a calendar year is for sure an optimal time when considering a payroll migration. Clients like the clean break between years – allowing their prior system to keep balances and reporting items whole and take advantage of the resetting of liabilities, accumulators, PTO plans, and the like with the new year. Additionally, it’s less data transfer between systems making it easier for all parties to have a successful launch. Finally, a new year allows for new initiatives. Clients like to use the migration to Netchex to kick off things like Self Service, Benefits Administration, or introducing new processes for handling historically manual tasks like PTO requests or performance reviews. A new year provides a great time both from a liability break and process improvements.

Will Integration Really Help?

Q: Could the integration between Dealertrack DMS and Netchex’s payroll platform actually make year-end reporting easier at my dealership? How?

A: Well – it depends. If Netchex takes over the processing of your payroll prior to the year ending, we’ll also handle all year-end reporting like W2s, 1099s, and 1095s. Additionally, we’ll file taxes for each quarter that a client is with us during that year as well as all year-end tax reporting.

Why Netchex?

Q: We give our Client Partners the option to choose other third-party solutions to manage HR and Payroll functions. So, then, why should dealerships partner with Netchex versus another third-party vendor? What is the true key benefit of the Dealertrack integration? How are we leveling up?

A: Netchex and Dealertrack DMS recognize there are alternatives in the HCM space other than our solution. We spent a lot of time discussing ways to differentiate and it really starts with the integration. Being able to have support from both parties to ensure bi-directional data flow is a huge win for our shared clients, especially when it comes to tech time and commissions. Plus, they love the employee mobile app that gives their teams direct access to all their data. Additionally, Dealertrack has educated Netchex on the small details that make a successful dealership run and we have ingrained many of those practices in our solution – tasking with reminders, pay policies, PTO policies, manager functionality for access to employee activity, handling 941’s – those are just a few examples of our understanding of the dealer space. Dealertrack DMS also has set a high bar for service and as such, Netchex delivers on that level. The reality is many companies might be able to get associates paid but nowhere near as efficient as our offering. In reality, Netchex benefits add up in time savings and liability. Our partners report that:

• The employee portal access is a time saver.
• Tasking and reminders to employees and managers are huge time-savers.
• They do not want the tax liability; most controllers love that they don’t have to do the 941’s/year end reporting, Cobra etc.

What does the transition look like?

Q: Smooth onboarding, ongoing consultative support is something Dealertrack DMS clients expect from our partnership. How is Netchex meeting this standard?

A: Well, I pointed to this in the earlier question, and I’ll share some more detail. Netchex has created Dealer-specific onboarding and service teams. These associates wake up each day and only think, act and work in the dealership world. This allows for deep understanding of need and more importantly, the ability to consult at a high level with Dealertrack DMS customers. Sharing best practices, as well as guidance away from potential pitfalls, is cornerstone to our service delivery. With over 1,000 Dealertrack rooftops installed, Netchex has the experience and understanding of dealer service expectations.

How does Integrated Payroll, powered by Netchex, save time?

Q: Let’s talk about time-savers. How does the integration between Dealertrack’s DMS and Netchex benefit dealership staff from day one and day-to-day? What time-savers are users now taking advantage of?

A: When designing the integration for Dealertrack DMS and Netchex, we focused on the pinch points that are time-sensitive, volume intensive, and critical for accuracy. Pay has to be correct and on-time. Moving critical pay data like commissions and Tech Time in an automated fashion not only saves administrators tons of time, it provides peace of mind that it is accurate. On the back end of payroll, GL integration is critical for dealers to close jobs as well as their books. Making this a key component of our integration strategy has been well received and a big win for dealers. One dealer, Budd Baer Auto Group, estimated we saved them 4 days of work every month.

What improvements are being made?

Q: Have any enhancements or improvements to the solution been made since the partnership was announced, and what is planned for 2022?

A: Netchex and Dealertrack DMS are consistently eliciting feedback from clients to ensure the best experience. Whether it’s enhancing reporting capabilities around Tech Proficiency or Monthly accruals or even application workflow within Netchex, we not only listen—we deliver. Our journey to create the best experience isn’t over, either – we have new solutions and services planned for 2022 all coming from client feedback.

Simply by switching to Netchex, Lawley Auto Group’s entire hiring and onboarding process was streamlined so that hiring managers won a ton of time back in their day, and new hires now spend their first day doing the job they were hired to do. – Will Boudreaux, Netchex CEO

Where’s the proof?

Q: Can you share any anecdotes or success stories from your experience switching dealerships over to Netchex?

A: Lawley Auto Group is a favorite of ours. They’re multi-state, multi-location and came in with struggles related to onboarding, timecards, and manual accounting processes. An employee’s first day was spent filling out paperwork, timecard edits for 250 employees was taking a full 8-hour workday. Plus it took a lot of  time for every location to sign-off on the payroll, and managing Tech Time was always a struggle. Simply by switching to Netchex, Lawley Auto Group’s entire hiring and onboarding process was streamlined so that hiring managers won a ton of time back in their day, and new hires now spend their first day doing the job they were hired to do. Our mobile app timekeeping means significantly fewer errors on timecards, plus remote approval for all the locations. And the integrated payroll handles Tech Time automatically. We’ve saved them several hours each week, and of course, the thousands of dollars associated with that time.

Dealers asking “why now,” before switching to an integrated payroll technology must consider the benefits and challenges associated with making the move. And, the longer you wait, the benefits of time savings, better onboarding, and year-end reporting begin to vanish. Upgrading your payroll process and technology is a critical need for your business. The accelerated digital landscape is here to stay. And your dealership’s most critical and largest expense—your payroll—simply must keep up.

WANT TO LEARN MORE ABOUT INTEGRATED PAYROLL AND HR MANAGEMENT FROM DEALERTRACK DMS? CLICK HERE TO SEE HOW YOUR DEALERSHIP COULD BENEFIT.

 

Will Boudreaux, CEO of Netchex

Will Boudreaux is the founder and CEO of Netchex – the fastest-growing payroll services company in the country. Technology-centric but service-driven Netchex has become a leader in the Human Capital Management industry.

Will launched Netchex in 2003 based on an innovative vision of how deliver solutions in the payroll services industry.

When Neal Jackson, accounting manager at Lawley Auto Group, decided to upgrade the payroll process and technology in his multi-state, multi-location dealership, he went looking for a solution that met certain requirements. It needed to keep his dealership in compliance, save time, and reduce the amount of manual adjusting his team always took on to get the job done right. What he discovered was a modern, integrated payroll solution that worked directly with his Dealer Management System. Jackson, an “early adopter” of the technology, was ready to dive in and give it a try. Here are four key results that Jackson and Lawley Auto Group uncovered as a result.

1 – Tech Time in No Time

When dealers talk about the key challenges of managing payroll within their dealership, Tech Time is usually at the top of the list. Variable rates of pay, managing commissions, and calculating costs always make the process of managing payroll more complex. “Tech Time has been a huge, huge time-saver for me. And one of the reasons is that we’re semi-monthly and one of those Tech Time conversions happens at month-end,” explains Jackson. With integrated payroll, Tech Time is automated, saving accounting teams hours upon hours each week. And those hours add up to serious cost-savings in time.

2 – No More Manual Paperwork

Jackson found himself manually adjusting payroll each month for eight different locations in his automotive group. With different state tax laws, over 250 employees, and only a small team of three employees to help him, the conversion process could take hours (and sometimes days). “It was very hard to get reports out of payroll in a manner that was usable. So, I spent a lot of time taking reports out of Dealertrack and converting them into an excel file. And that was pretty time-consuming due to all the noise that was in them,” Jackson explains.

3 – Streamlined Onboarding Processes

Hiring, staffing, and onboarding is just the tip of the iceberg for human resource teams. In an industry facing an almost 80% turnover rate, getting your team up-to-speed with a fast and efficient process is key. “Simply by switching to Netchex, Lawley Auto Group’s entire hiring and onboarding process was streamlined so that hiring managers won a ton of time back in their day, and new hires now spend their first day doing the job they were hired to do,” explains Will Boudreaux, CEO of Netchex.

4 – Free to Focus on What Matters

When Lawley Auto Group began to see the time savings take effect upon the implementation of an integrated payroll system, something amazing happened. He was able to convert a full-time payroll position into a part-time clerk, freeing her to focus on other areas of growth within the dealership.

To learn more, download a copy of the Lawley Auto Group Story here.

WANT TO LEARN MORE ABOUT INTEGRATED PAYROLL AND HR MANAGEMENT FROM DEALERTRACK DMS? CLICK HERE TO SEE HOW YOUR DEALERSHIP COULD BENEFIT.

Payroll is a critical function for every business. It’s also the single largest expense for most companies, accounting for 68% of the average company’s overhead¹, and that’s before factoring for the hours of time it takes to run payroll on a regular basis. Wouldn’t it be nice if you and your dealership could save time and money while performing this costly and time-consuming process? A key technology trend is helping dealerships do just that with a single, simple action. Fully integrating your payroll solution with your DMS reduces does both in four specific ways.

 

1. Integrated Payroll Reduces Administrative Work

By pushing and pulling information from your DMS, integrated payroll systems create efficiencies for those tasked with running payroll. If you’re still working within multiple disconnected systems, consider how much time you’re spending setting up manual reports, entering duplicate data, and making manual reconciliations. And, as you’re probably painfully aware, if you make an error in one system, it can take a long time to discover, locate, and fix that mistake in each place that it occurs. Truly integrating your DMS with a full-featured payroll solution can help you eliminate spreadsheets and manual data re-entry, freeing you up to spend time on more important—and more profitable—activities.

2. Integrated Payroll Automatically Posts to the General Ledger

Of course, the payroll process is deeply intertwined with your dealership’s accounting systems and processes. And every payroll needs to be posted to the DMS general ledger. It’s one of the most important administrative tasks associated with payroll. Payrolls processed through fully integrated platforms post to the DMS General Ledger in real-time, with no additional manual steps required. Automatic payroll posting eliminates the need for spreadsheet uploads and/or manual journal entries common with other 3rd party payroll solutions.

3. Integrated Payroll Eliminates Disparate Systems

Of course, salaries and wages aren’t the only type of compensation within your dealership. Integrated human resource management systems go beyond payroll by helping you manage employee paid time off, benefits, performance reviews, job summaries, and much more. Integrated systems eliminate the need to track and report these items manually, or through separate, non-integrated solutions, saving you lots of time and freeing up resources for more important activities. With the right platform, you get one integrated platform and a single system of record for all human resource information.

 

4. Integrated Payroll Streamlines Payroll Complexity into One Process

Payroll is one of the most complex calculations performed by any business, and it’s even more complicated for dealerships. Factoring for sales commissions, bonuses, tech time, and employee receivables, running payroll within a dealership can be extremely difficult to understand and execute. Full-featured, integrated payroll solutions simplify the process by empowering you to review, validate, and reconcile these pay types as part of standard payroll processing, saving time and ensuring accuracy.

 

Your dealership spends a lot of money to pay its people. And the payroll process is one of the most important and time-consuming activities performed within your company. While you may not be able to do anything about the recurring cash outlay associated with paying your people, you can save time and money on the process of running payroll. By adopting a full-featured payroll management system that integrates with your DMS, you can reduce administrative work, eliminates disparate systems, and minimize complexity, saving you both time and money.

 

Want to learn more about Integrated Payroll and HR Management from Dealertrack DMS? Click here to see how your dealership could benefit.

¹ https://www.zenefits.com/workest/payroll-data-priority-small-businesses