The human capabilities are more expansive than anyone has ever managed to decipher, and yet they don’t offer a single element more valuable than our sheer efficiency in improving at a consistent pace. We say this because the stated efficiency has already fetched the world some huge milestones, with technology appearing as a rather unique member of the group. The reason why technology’s credentials are so anomalous is purposed around its skill-set, which was unprecedented enough to realize all the possibilities for us that we couldn’t have imagined otherwise. Nevertheless, a closer look should be able to reveal how the whole runner was also very much inspired by the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence and made it the ultimate centerpiece of every horizon. Now, having such a powerful tool run the show did expand our experience in many different directions, but even after reaching so far ahead, this prodigious concept called technology will somehow keep on delivering the right goods. The same has grown to become a lot more evident in recent times, and assuming one new HRM-themed development pans out just like we envision, it will only propel that trend towards greater heights over the near future and beyond.
Paypro Workforce Management, a leading provider of HR solutions, has officially announced the launch of comprehensive payroll and workforce management solutions that are all geared towards serving the underserved cannabis industry. According to certain reports, the stated development comes at a time when traditional providers have retreated from the industry and left many cannabis business owners and their employees struggling with outdated pay practices like cash payments or paper checks. To fill the gap, Paypro’s solutions bring to the fore a state-of-the-art facility, where for starters, you’ll be given an uninterrupted access to these highly-convenient direct deposits and pay cards. The purpose attached to such deposits and cards is rooted in making sure that employees receive their pay in a quick, secure, and reliable manner, thus encouraging greater financial inclusion throughout the sector. Next up, we must dig into how it will empower you to stay compliant with those Federal and state tax laws. Here, users can expect proper expert-led guidance and tax calculations that will work in tandem to help you navigate the complexity which has long remained associated with cannabis regulations. Then, we have the prospect of detailed reporting and analytics. The idea here, like you might have guessed by now, is to let users cultivate deep and valuable insights into workforce data for informed decision-making in regards to both your commercial operation, as well as your regulatory obligations.
“For too long, cannabis industry employees have been treated like second-class citizens when it comes to basic payroll services,” said Kenneth Porcelli, President & COO of Paypro Workforce Management. “While traditional employees enjoy the convenience and security of direct deposit, many cannabis workers have been forced to operate in the shadows with unreliable cash payments or cumbersome paper checks. This is not only unfair but also creates significant operational challenges for cannabis businesses.”
Hold on, there is more. You see, in a bid to further relieve businesses operating in the given industry, Paypro has formalized a partnership with StandardC, a leader in banking & financial services compliance. The partnership, in practice, will leverage StandardC’s Unified Customer Management (UCM) software to provide users real-time cannabis risk management capabilities. These capabilities should go a long way when the agenda is to continuously evaluate a cannabis business’ license status, registration, and AI-powered KYC screening of its entities and their beneficial owners. Moving on, the partnership will also conceive for you proactive alerts and risk mitigation. This loosely translates to a knowhow of extending immediate notification which relays potential risks and guidance on possible corrective actions so to minimize business exposure. Rounding up the collaboration’s highlights is how it will also streamline the entire audit preparation process. By doing so, the partners will effectively simplify compliance documentation and audit preparation to save businesses essential time and resources.
Coming back to why Paypro’s presence makes this development all the more important, the answer resides in its pledge to provide an enterprise-class, cloud based workforce management suite which serves you with complete automation of operations. Not just that, it makes available high quality resources that are often needed to manage a workforce from hire to retire, including a common user interface, database, and workflows across payroll, time and attendance, HR, employee benefits, and more. Paypro’s excellence in what it does can also be understood once you consider it has an industry-leading retention rate of more than 95%. The company even gets its customers to stay for longer than the wider average, with the timeframe settling at more than 9 years. At present, Paypro is overseeing, on an annual basis, a sum exceeding $5 billion in ACH transactions.
“At Paypro, we believe everyone deserves fair and transparent payroll & HR services, regardless of the industry they work in,” said Porcelli. “We are committed to empowering cannabis businesses and their employees by providing the tools and resources they need to thrive. Our partnership with StandardC brings unparalleled compliance assurance to the table, giving our businesses the confidence to focus on growth and innovation.”
