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The
electronic pay stub eliminates the need for paper stock,
storage, printing, inserting and distribution. According to the
National Automated Clearing House Association (NACHA), companies
can save as much as $1.85 for each eliminated paper pay stub.
Companies with employees at remote locations can further
eliminate the use of costly overnight delivery services or the
U.S. mail.
The
program has been well received by Pitney Bowes employees.
Roughly one third of eligible employees have enrolled in the
electronic payroll application.
"Streamlining
the payment process can have a significant impact on a company’s
bottom line," said Karl Schumacher, president of Pitney
Bowes docSense, a wholly owned subsidiary of Pitney Bowes that
provides software for multi-channel document delivery.
"Using an electronic bill presentment and payment (EBPP)
product like our D3 software for a payroll application is a good
way for companies to practice better employee relationship
management (ERM) techniques."
ERM,
a variant on the idea of customer relationship management (CRM),
uses technology to optimize all the interactions between the
employee and corporation, including communication, training,
collaboration and financial processes. With the pay stub
application, for example, employees no longer have to worry
about keeping track of their pay stubs, which are digitally
archived in an XML database.
National
Payroll Week celebrates the unique partnership among America’s
workers, their companies and the payroll professionals who,
through payroll withholding, contribute and collect two-thirds
of U.S. Treasury revenue.
Pitney
Bowes Inc. is a $4 billion global provider of
integrated mail, messaging and document management solutions
headquartered in Stamford, Connecticut. The company serves over
2 million businesses of all sizes through dealer and direct
operations. Pitney Bowes docSense is the company’s global
provider of premier solutions for the creation and distribution
of efficient and effective documents in paper and digital form.
For more information, please go to www.pb.com.
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Stamford,
Conn., September 4, 2002 -- Pitney
Bowes Inc. (NYSE: PBI), a four-billion dollar global provider of
integrated mail and document management solutions celebrates
National Payroll Week (September 2-6) with the introduction of
an electronic pay stub to provide convenience and security and
as a way to further reduce costs traditionally associated with
paper-based payroll processes.