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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.

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