In the financial services industry, compliance processes are as important as anything else you can do for your clients. ..

As of September 2017, NACHA implemented Phase 2 for same day ACH payment processing so that payroll direct deposits and other forms of ACH payments (debits) can be made earlier than "next business day." ..

Insufficient funds can be an expensive problem for payroll providers, and can lead to bankruptcy. ..

Considering how competitive the market is for bringing on new clients, it can be easy for payroll providers to lose sight of the risks. Those who are not careful with risky new clients can get stuck with NSFs, get in the crosshairs of the FBI, or even go bankrupt. ..

No company expects to encounter issues with tasks they complete on a frequent basis. Yet some of the more important responsibilities often come with bigger risks. One of the largest obligations is processing employee payroll. This procedure is generally completed every two weeks, which gives human resources and payroll teams enough time to spot any problems. ..