Bronze award winner in Operational Risk Management: Paychex

Rochester, New York-based Paychex provides payroll and human capital management services to more than 680,000 businesses across the United States. One of the services the company offers is payroll tax administration, through which it withholds payroll taxes from the paychecks of a client's employees, then files and pays those taxes on behalf of its client.

Not surprisingly for a company filing a large number of client tax returns, Paychex also files a lot of amended returns when information included on the original return changes or turns out to be incorrect. A couple of years ago, individuals throughout the company managed these amendments in a highly manual process.

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Meg Waters

Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.