Your article was successfully shared with the contacts you provided.
About four years ago, Paychex, the world’s leading provider of outsourced payroll services to companies, realized it was vulnerable to significant operational risk. In the Paychex world, where more than 561,000 U.S. companies rely on the vendor to manage payroll and related employee benefits transactions and records, operating risk is when the payroll process and supporting services experience interruptions in the intended cycle. Since its operations were contingent on human beings entering appropriate payroll and tax information, the possibility of failed transactions was high.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing. Once you are an ALM digital member, you’ll receive:
Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices,
case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
Exclusive discounts on ALM and Treasury & Risk events.
Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.