Mutual Of Omaha/PayBridge Payroll Offering

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Toby Copeland
8 years ago
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1 Mutual Of Omaha/PayBridge Payroll Offering

2 Agenda Introductions The Challenge Company Background The Paybridge Product Final Thoughts & Next Steps

3 Challenge Respond competitively to one-stop, bundled service providers (ADP, Paychex & Fidelity) Create the ability to offer your TPA s network a way to expand their distribution by offering a broader range of services for their clients/prospects Integrated Payroll/Retirement Real Time Census Data Better Compliance Minimize ADP/Paychex success in selling to your client base. ADP/PayChex has only penetrated 10% of their payroll client base (Combined 1 mil payroll clients) Enable Mutual Of Omaha to increase and retain assets through a payroll offering

Payroll/Retirement Real Time Census Data Better Compliance Minimize ADP/Paychex success in selling to your client base.

4 Power of ADP/PayChex Approximate number of Payroll Clients: 1,000,000 Assets: $44,017 B Plans: 76,600 New Plans 2007: 16,152 Participants: 1,875,000 Payroll Base Penetration: 10% Your clients are being targeted every time they process payroll

16,152 Participants: 1,875,000 Payroll Base Penetration: 10%

5 PayBridge Overview Company Founded 2006 A payroll company built by a TPA for TPA s Payroll and Retirement leaders with entrepreneurial passion Targeting clients from 10 to employees Specializing in Integrated, Web-based Payroll, HR, Benefit Enrollment, Timekeeping Solutions National Payroll company with over 12 TPA s selling payroll Consultative, solutions oriented approach Focus on long-term client retention Management - Diverse Background and Proven Track Record in Payroll Service Bureaus Technology Consulting Start-Ups Mergers and Acquisitions Self-Service Solutions Payroll Consulting Business Development Program Management Solutions Sales Software Development Record Keeping TPA Services Resource Staffing e-commerce

solutions oriented approach Focus on long-term client retention Management - Diverse Background and Proven Track Record in Payroll Service Bureaus Technology Consulting Start-Ups

6 PayBridge Solutions / Differentiators PayBridge s TPA/Payroll model is built & generating revenue from well-satisfied end clients PayBridge is nationally known among TPA s and investment providers Operational streamlining regains 40 to 80 hours of usable time for the payroll person PayBridge payroll 401(k) Integration eliminates need for client to maintain/edit contribution files Mutual Of Omaha Financial will have direct electronic access to payroll census data, so client doesn t have to chase payroll company at plan compliance testing time, and TPA s can work more efficiently Web-speed, real-time performance verify and process payroll in seconds Client-assigned implementation and support not 800 call center model A partner whose culture aligns with yours, PayBridge was built by a TPA for TPA s

Omaha Financial will have direct electronic access to payroll census data, so client doesn t have to chase payroll company at plan compliance testing time, and TPA s can work more efficiently

7 The standard payroll providers solution Submit payroll Edit File Enter date and contribution total Validate file Confirm contribution total and complete transaction Download contribution file form payroll provider Upload file to Plan Service Center Load file to Plan Service Center The PayBridge Solution Client verifies payroll, including 401K contributions PayBridge processes payroll and submits contributions electronically and sends census data. Provider receives file and contributions and applies. Client submits payroll PayBridge creates and submits contribution breakdown file. 7

PayBridge Solution Client verifies payroll, including 401K contributions PayBridge processes payroll and submits contributions electronically and

8 Retirement Solutions - Licensed Investment Adviser - Financial Consultant/Adviser - 401(k) Administration - Profit Sharing/Simple/Safe Harbor - Direct Data Transfers - Employee Education Meeting every 90 Days - Outsourced Loan & Distribution Processing - Investment Diversification Studies - Plan Review and Investment Due Diligence HR Management Personal HR Advisor On-Site HR Representative Customized Management Manuals/Workshops HR Policy Audit and Assessment Handbook Development/ Compliance Training & Development Recruitment & Staffing Web-based timekeeping Payroll integration On demand mgt. reports Swipe card, PC, Bio. entry Easily see missed punches Multiple approval levels Assign hours to projects, cost centers, grants Time & Labor Management Payroll Administration Web Based, real time access - no waiting for reports Fed., State & Local Tax Filing Check Reconciliation Employee Self service Automated vac. & sick accruals Direct deposit or checks Single database across HRIS, payroll, benefits, timekeeping Client-assigned support Employer Employee & Employer Benefits Compliance Solutions Workers Compensation Payment Service COBRA Administration Tax Credit Services ERISA Section 404a&c Compliance Fiduciary Liability Compliance WCO Class Code & XMOD Consultation Flexible Spending Accounts Health Insurance Services Detailed Coverage and Cost Analysis/Market Review Ongoing Employee Education Dedicated Account Manager & Claims Advisor 800# Employee Help Line (Solution Center) Online Services Reports Online General Ledger Interface Payroll Integration with 401(k) Payroll integration with TPA Data transfer between service providers Integrated Employer Services

Customized Management Manuals/Workshops HR Policy Audit and Assessment Handbook Development/ Compliance Training & Development Recruitment & Staffing Web-based timekeeping Payroll integration On

9 Sales Process: Paybridge will set up a account for wholesaler s leads Information on Subject Line: Prospect Name Contact name Phone number Number of employees Current payroll processor Paybridge will take over sales process Outreach call to prospect within 1 business day Data Collection (qualify prospect) Schedule meeting with prospect Demo Sales Process Proposal delivered Follow up with prospect to close Keep wholesaler informed of the process via /phone

process Outreach call to prospect within 1 business day Data Collection (qualify prospect) Schedule meeting with

10 Questions

Innovative Solutions for PaYrOll, HealtH and benefits, and Human resources administration.

Innovative Solutions for Payroll, Health and Benefits, and Human Resources Administration. Payroll Paychex payroll services provide a comprehensive business solution that is accurate, confidential, and