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Coming Through for Small Businesses to Bear the Buckling Payroll Burden

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Check, the leading payroll infrastructure company that pioneered the ability for platforms to embed payroll into their products, has officially announced a partnership with Wave to give latter’s users an access of best-in-class full-service payroll functionality across all 50 US states. To put things into context, Wave is actually a one-stop money management platform for small business owners, a platform which currently offers everything from accounting, invoicing, and payments to bookkeeping, and payroll solutions. Staying on the payroll bit, the partnership in question will expand it and provide users, for starters, with an affordable flat-rate pricing. You see, unlike other payroll platforms that ask users to pay extra for a range of features, Wave’s platform can now be expected to provide all of the essential features attached with running payroll, including state and tax filings, and end of year reports etc., at no further cost whatsoever. Then, we have the prospect of next day direct deposits where employees can opt in to receive their paychecks the day after payroll is processed. Not just for employees, though, this particular feature also aids the case of employers, as they don’t need all the necessary payroll funds in advance. Instead, they simply need to have funds available on the day of payroll processing. Moving on, the collaboration between Check and Wave also brings to the fore single and multi-state payroll functionality, which involves automated state tax filings for small businesses with employees in a single state, or multiple states.

“Our partnership with Check enables us to deliver a simplified, accurate and compliant payroll product that supports our shared goal of helping more small business owners start, survive and thrive,” said David Axler, Chief Strategy Officer at Wave. “By simplifying something as critical yet complex as payroll, Check’s API will enhance our offerings in all 50 states. Small businesses are critical to the communities they serve, and this partnership allows us to reduce administrative headaches for our customers while ensuring accuracy, speed and compliance in the process.”

Rounding up highlights is a comprehensive human-powered customer support. The stated support is to ensure that Wave customers can access various different resources in regards to payroll-related queries. This markedly includes support certified from payroll experts.

Contextualizing the importance of such a development is the fact that there are 11,000 U.S. payroll jurisdictions currently in place across US. Apart from having to comply with them, a small business owner also has to bear the administrative burdens like proper tax calculation, form filing, remittance, and more. Fortunately, Check has been able to solve that problem to a larger extent, and the same is evident in how it was successful in leveraging embedded payroll to accelerate time-to-market by 5 times. The company also fetched its customers a 20% average increase in customer lifetime value, along with an estimated 50% average increase in ARPU from upsell.

“At Check, we aim to make payroll easier for as many small businesses as possible, and we’re thrilled to partner with Wave which shares in that mission,” said Andrew Brown, co-founder and CEO of Check. “This partnership will allow us to grant even more small business owners with the tools they need to start running payroll easily, seamlessly, and compliantly, without having to grapple with the complicated web of rules and regulations that come with it. We’re excited to see Check’s embedded payroll help solidify Wave’s position as a leading one-stop-shop for small business management needs.”

 

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