ACH Payroll Processing & Fedwire Blog

ACH Payroll Processing & Fedwire Blog

Cachet Financial Services & IPPA

Friday, March 24, 2017
Cachet Financial Services & IPPA

For Allied Member Group, Innovation Is Iteration

A large majority of IPPA members do business and/or partner with one of Financial Business Group Holdings' (FBGH) five subsidiaries, predominately Cachet Financial Services and Payroll Tax Management (PTM).

FBGH is a small financial services conglomerate and the parent company of Pilot Software Solutions, Time Rack® and SBS Payroll. For this Allied group providing a variety of payroll related software, systems and services to the payroll industry and 100,000 customers nationwide, IPPA has offered a targeted audience for its Cachet and PTM entities for more than thirteen years.

SBS Payroll on the 2017 IPPA Sales Panel

SBS Payroll's Matthew Whiteley on the IPPA's "Sales Rep Workshop" panel discussion

The IPPA Experience

"We attend around 40 conferences per year, and by far the IPPA is the most organized and professionally managed group we work with,” said Jeanne Rogers, Director of Marketing for FBGH and its subsidiaries. PTM's VP of Sales, Summer Pelotti has represented PTM and has served on the IPPA committee for the last three years. VP of Sales & Corporate Relationships, Brandi Utria, has just joined the IPPA committee to represent all of FBGH companies.

"IPPA is a place where we can come together as an industry, stay ahead of nuances and compliancy to manage risk," said Rogers. "Engaging with membership keeps us tuned into industry trends and changes to navigate and direct our innovation. We'll continue digging into ways to help you solve your biggest issues." IPPA members are an important part of beta testing new software and service offerings, providing valuable feedback to FBGH's "Imagine It" team.

Connecting with IPPA Allied Members

Connecting with other Allied Members is another important IPPA benefit, as FBGH's companies have successfully integrated new software products with a variety of Allied partner platforms. Rogers added that when FBGH and affiliate partners merge best practices and collective resources, the end result produces the WOW factor for payroll clients.

FBGH is well-known as an industry innovator. Its management team has been a part of the payroll and payroll tax industry since 1969. They were the first to market payrolls through banks, the first to issue agency checks, the first to combine payroll tax processing with independent payroll companies, and the first to present an automated treasury tax deposit service to the banking industry.

Quantum Symposium at IPPA 2017

Quantum Symposium Presentation at IPPA 2017

Introducing Quantum: Automated, Client-by-Client Reconciliation, Where Payroll Funds, Banking and ACH Meet™

Quantum is the latest and greatest payroll services product from Cachet to save time and protect you from being out of balance at month-end, and more importantly year-end. Rogers and her marketing team pre-launched Quantum in New Orleans, and offered a Quantum Symposium following the Sales & Marketing Conference.

Quantum was developed with one specific purpose in mind: to make it easier for payroll providers to achieve daily reconciliation of the transactions moving through Funds Held For Client accounts. Its automation oozes with simplicity and is the only double entry system in the market that allows for and corrects data from single entry systems to guarantee balanced results.

"Those who are using Quantum are wondering how they ever lived without it," said Rogers.

ACH Payroll Processing Innovation

Cachet Financial Services is a national company providing a variety of bank related services for mid-market to large corporate clients and the payroll service industry, including ACH direct deposit payroll processing. Other Cachet services are Quantum, a client-by-client payroll reconciliation, and wire services including Drawdown Fedwire.

Cachet is part of the FBG Holdings family of companies that provide payroll related services to approximately 110,000 em0ployers nationwide and process over $140 billion dollars annually. Cachet offers competitive rates and fees for each of their customized services, presenting payroll service bureaus, ASOs, PEOs and corporate clients with an alternative to using traditional banks for their ACH payroll processing needs.

Payroll Tax Management: Service or Software, It's Your Preference

PTM, another FBGH Allied Member, provides payroll tax processing software and service solutions for the payroll service industry, PEOs, ASOs, and mid-market to large corporate employers nationwide. Software options include the FlexTax® suite of software and service options are for companies seeking an in-house tax solution and PTMs cloud-based solution, FlexTax Hosted that provides complete user control.

Service options include PayTax® Plus service, traditional full-service payroll tax outsourcing. PTM processes payroll taxes for Federal, State and Local Taxing Authorities in all 50 States and U.S. Territories, as well as Canada.

Payroll Security

"We believe that security is extremely important with your clients' funds, and Cachet and PTM both have enhanced security measures in place,” said Rogers. The companies provide a $50 million dollar crime bond and are SSAE SOC 1 Type 2 certified.

Women Leadership

Supporting women in business is another important mission of the FBGH group. Interestingly, Cachet and PTM both have women as company leaders. Aberash Asfaw is President of Cachet Financial Services and Micheline Chabana is President of Payroll Tax Management. FBGH and its subsidiaries are major sponsors of the Orange County Business Journal's annual Women in Business Awards, the largest women's event in the area.

Located in Santa Ana, California, FBGH is 100% employee-owned and its family of companies employs nearly 100 people in the Orange County vicinity.

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