What would your bottom line look like with an additional $100,000? Do you think that sound outrageous? Actually, if you have 350 employees that are currently receiving paper paychecks on a weekly basis, it's not outrageous at all. In fact, it's quite possible.
According to SmartBusiness, a company can save over $6.00 per transaction by using direct deposit instead of a paper check. That's an annual savings of $312 per employee if he is paid weekly.
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If you have 350 employees that receive paper checks on a weekly basis, the model shows a direct annual impact to your bottom line of $109,200.
What about companies that have 3,500 employees paid weekly with paper checks? How does over a million dollars sound? You read it right,... six zeroes.
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