For payroll companies, this isn’t a time to be selling and trying to close deals, but you need to be prepared when the economy reopens. When your prospects start buying again, it’s going to be like a goldrush across the industry.
As a result, every payroll company will be descending on the same customers. Sales reps who haven’t made a commission in months will be chomping at the bit, eager to make up for lost time, revenue, and commissions.
How Will You Stand Out?
Since everyone will be bombarding prospects at once, you’ll need to have a payroll solution that stands out from the competition. It will be critical not only to differentiate yourself with a superior product, but to bring in proven partners that no one else has — partners who will make you a uniquely credible and trusted advisor.
Combining better solutions with deeper expertise gives you a complete solution that the competition can’t match. IDI is the trusted partner that can put you above the crowd, because we bring both solutions and expertise your competitors don’t have.
IDI’s Differentiating Solutions for Payroll Companies
IDI’s solutions can help you differentiate yourself from the competition in four key industries. Let’s take a look at how we do that.
Construction is one of the leading industries to get back to work, which provides an early opportunity for payroll companies. Yet, contractors face challenges that an HCM system isn’t designed to handle:
- ERP integration to job cost level
- Calculations for benefit/burden costs and mapping logic
- Prevailing and union wages based on multiple variables
- Fringe rates associated with the prevailing wage rate
- Certified payroll reporting
IDI's Contractor Central is your differentiator to help you gain access and close deals with construction clients. By automating pre-payroll rate decision logic, Contractor Central ensures that all employees are paid according to the contract and that the post-payroll reporting and data transfer to the ERP is accurate and timely.
Contractor Central's suite of solutions can be tailored to fit your construction clients' needs.
It keeps companies compliant by automating wage decisions for employees working on a mix of private, public, and union jobs. The application’s flexible, project-specific tables accommodate the wage and benefit complexities that contractors deal with every day.
As new COVID-related regulations are introduced to plants, manufacturers are facing new payroll complexities. They’ll need trusted payroll providers who can help them navigate through these uncharted waters.
Yet, manufacturers also have payroll issues that HCM systems aren’t designed for:
- Complex job pay/wage progression
- Production incentives
- Employee level and team incentives
- Special pay
- Importing pieces/amounts from other system to use in pay calculations
- Union rules
With IDI's Manufacturing Industry suite of solutions, you can help your prospects save time and prevent errors by automating the complexities that payroll professionals face every pay period. Time Bank automatically retrieves all of the timecard data and applies the correct job rate for each employee, calculates the incentives and piece production rates, checks seniority rules, and integrates it with payroll. Customers know they’re issuing the right pay for every employee, every payday.
Organizations in the professional services industry have challenging needs that HCM systems don’t address:
- Semi-monthly FLSA rate vs. weekly or biweekly
- Prior period/retro FLSA adjustments vs. current period adjustments
- Client-specific custom logic for bonuses and commissions
IDI's suite of solutions for the professional services industry is the only wage allocation solution fully integrated with your time and payroll system. Time Bank automates the allocation of salaried earnings across projects or clients and automates the transfer of investment data into payroll. With IDI, you can help your clients avoid Department of Labor fines by automating adjustments of overtime earnings for employees paid bonuses or commissions in a prior pay period.
Non-profit organizations are facing increased scrutiny from funding sources. In the past, they could report estimates of how they’re using funds, but that has changed. Non-profits now must account for every dime of funding that they spend. Audits are a matter of when, not if.
IDI's GrantAlytics makes the whole grant process easily manageable. While traditional grant management involves many different spreadsheets and the pain of reconciling budgets, GrantAlytics is an industry focused web-based solution that allows users to:
- Enter and maintain budgets for each grant and expense category
- Review performance across all grants and down to each grant or individual employee
- Identify why a given grant is over or under-spending with actual data, not estimates
- Create useful, accurate reports for internal or external use at a moment’s notice
Customers get real-time visibility into the status of each of their funds’ labor and non-labor expenses to make better spending decisions that can easily be justified to funding sources.
IDI’s Expertise Helps You Stand Out
IDI also provides deep industry insight and expertise that your competition doesn’t have. By partnering with us, you can earn deeper trust with prospects and assure them of your ability to address the unique payroll challenges of their industry. Here’s a sampling of the expertise we provide.
IDI Resource Center
The IDI Resource Center represents our 30 years of domain knowledge on industry-specific terms and concepts that relate to the HCM industry. We've identified dozens of key topics and phrases that clients expect you to know, so you can speak their language and demonstrate your industry knowledge.
The Resource Center is a game-changer for sales reps who need to hit the ground running and differentiate themselves from the competition.
You can also get industry playbooks to help you develop your sales strategy, and a monthly Partner Newsletter that gives you greater insight into the industries you’re selling to.
We can help you in the field to identify some of the challenges your prospects face, and spot opportunities to complement your offering. We’ll give you the tools to uncover where we might be needed, and then provide the people and resources to help partner with you throughout the process.
Greater Support in 2020
To improve our work with partners, IDI is introducing several upgrades in 2020:
- Adding staff to our sales, implementation and support teams
- Restructuring teams to bring specialized skills at each stage of a project
- Providing partners and customers with online project tracking software that displays real-time status
- Implementing structured client feedback loops and additional account managers
Be Prepared Now to Stand Out Later
Work has become more virtual than ever, and it’s only going to continue trending in that direction after the coronavirus. IDI offers a product and services that can easily be delivered 100 percent virtually. We’re well positioned for your customers that need that, whether it’s now or later. IDI is surviving COVID-19 and is positioned to come out strong. Depend on a partner that has value as well as the stability and decades of proven track records to be there for you.