profitable payroll for your practicecpaacademy.s3.amazonaws.com/ppt/payrollzen.pdf · new revenue...
TRANSCRIPT
![Page 1: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/1.jpg)
Profitable Payroll
For Your Practice
JULIAN COLEMANPayroll Advisor
SAAD SHAHZADPayroll Advisor
![Page 2: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/2.jpg)
QUESTIONS
?
GoToWebinar Chat
Twitter @ZenPayroll
![Page 3: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/3.jpg)
Agenda
• Accountant objections
• Benefits of online payroll
• Turning payroll into a revenue
stream
• ZenPayroll overview and demo
• Streamlining with integrated apps
• Pricing and packaging
![Page 4: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/4.jpg)
Objections with Payroll
• It’s complicated.
• It creates more work.
• I need additional staff.
• There’s no room for errors.
• I don’t want to take on the liability.
• I don’t want to be chained to my
desk.
![Page 5: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/5.jpg)
Benefits of Offering Payroll
![Page 6: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/6.jpg)
New Revenue Stream
• Adds more money than time
• Increases margin per customer
• Opens up client base
![Page 7: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/7.jpg)
Higher Retention Rates
• Sticky offering increases retention
• High switching costs reduce churn
![Page 8: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/8.jpg)
• More connection with annual clients
• Keeps you top of mind
Multiple Touch Points
![Page 9: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/9.jpg)
Easy Collaboration
• Easily collaborate with remote
clients
• Run payroll on your smartphone
![Page 10: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/10.jpg)
Minimal Overhead
• Minimal to no additional operating
costs
• Low startup costs and time
![Page 11: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/11.jpg)
Case Study: HPC
• Xero 2013 Platinum Partner
• Started adding ZenPayroll as part of
service offering in 2014
– Integrations with Xero and other
add-ons means better leverage
and extensibility
– Differentiated value to
customers
![Page 12: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/12.jpg)
Polling Question
What is the main reason you don’t offer payroll as a service to all your clients
today?
1. I already offer payroll.
2. Too complicated.
3. Don’t want to hire staff.
4. Don’t want the liability.
5. Other (please list in question box)
![Page 13: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/13.jpg)
Payroll as a Revenue Stream
![Page 14: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/14.jpg)
Determine Service Level
• Who handles initial setup?
• Who enters employee hours?
• Who handles employee changes?
• Who sets up deductions or benefits?
![Page 15: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/15.jpg)
Onboarding Options
• Accountants have the option to
onboard clients directly
• Some clients may prefer to give their
employees self-onboarding options
![Page 16: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/16.jpg)
• Misclassifying employees as
contractors
• Doing payroll manually
• Paying employees in cash
• Manually entering payroll data
• Wanting more personal service
• Need tax advice on bonuses or
benefits
Identify Clients in Need
![Page 17: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/17.jpg)
Polling Question
Do you have clients that fall into any of these categories? (check all that
apply)
1. Misclassifying contractors
2. Incurring penalties and fines by missing payroll tax payment and filing
dates, etc.
3. Doing payroll manually or on antiquated systems
4. On traditional payroll systems with poor customer service
5. Other (please list in question box)
![Page 18: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/18.jpg)
Be a Trusted Advisor
• Help identify your client needs
• Be proactive in a 10-15 min
conversation
– What do they do?
– How long have they been in
business?
– Do they use accounting
software?
– How do they pay bills and
expenses?
– How do they run payroll?
![Page 19: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/19.jpg)
Ask Payroll Specific Questions
• How many employees? Where?
• How often do they pay?
• Hourly or salaried employees?
• Special pay requirements?
• Do they pay contractors?
• Are they doing after-the-fact payroll?
• What are they currently using?
![Page 20: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/20.jpg)
Case Study: Propeller
• Leading provider of outsourced
accounting and finance services for
early-stage companies
• Started adding ZenPayroll as part of
service offering in 2013
– As a SaaS product, ZenPayroll
provides extensibility to a larger
client base so Propeller can
service more clients, and
increase margin
![Page 21: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/21.jpg)
Polling Question
Do you have a plan in place to discuss payroll services with your clients?
1. Yes.
2. Yes, informally.
3. No.
4. No, but I’d like to.
5. Other (please list in question box)
![Page 22: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/22.jpg)
ZenPayroll Benefits
![Page 23: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/23.jpg)
Payroll Today
Overly Complex
Manual Tasks
Expensive
Modern Payroll
Simple & Intuitive
Automated Tasks
Affordable
![Page 24: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/24.jpg)
Streamline Operations
• Integrate applications
• Reduce manual data entry
• Lower operating costs
![Page 25: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/25.jpg)
ZenPayroll Demo
![Page 26: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/26.jpg)
Available
Today
Next Up
Arizona
California
Colorado
Connecticut
Florida
Georgia
Illinois
Massachusetts
Nevada
New Jersey
New York
North Carolina
Tennessee
Texas
Utah
Washington
Oregon
Virginia
Michigan
Indiana
South
Carolina
Maryland
Minnesota
Missouri
Wisconsin
LouisianaComprehensive Coverage
By Year-End
![Page 27: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/27.jpg)
Polling Question
What payroll software do you use today? (check all that apply)
1. None
2. ZenPayroll
3. Intuit solution (any)
4. ADP or Paychex
5. Other (please list in question box)
![Page 28: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/28.jpg)
Pricing and Packaging
![Page 29: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/29.jpg)
Pricing Trends
• Move away from hourly billing
• Become a trusted advisor vs.
commodity
• Package services by client need
• Transparent pricing
• Value-based pricing
• DIY vs. full service
![Page 30: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/30.jpg)
Pricing Payroll
• Create package tiers
– Small, medium, large
• Silver, gold, platinum
• Examples
– Zenkeep
– LucidBooks
– Cloudsourced Accounting
![Page 31: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/31.jpg)
![Page 32: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/32.jpg)
![Page 33: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/33.jpg)
![Page 34: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/34.jpg)
Polling Question
How do you price payroll services now?
1. We pass the costs to our client with no markup
2. We pass the cost to our client with a markup
3. Billed hourly
4. Package or monthly fee bundle
5. N/A or Other (please list in question box)
![Page 35: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/35.jpg)
ZenPayroll Partner Program
![Page 36: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/36.jpg)
Partner Program
• Volume Discounts
• Free Payroll for your Practice
• Dedicated Account Manager
• Access to Marketing Collateral
• Free Client Setup
• Direct Billing
![Page 37: Profitable Payroll For Your Practicecpaacademy.s3.amazonaws.com/PPT/payrollzen.pdf · New Revenue Stream • Adds more money than time • Increases margin per customer • Opens](https://reader033.vdocuments.net/reader033/viewer/2022050300/5f696e3f93b71a434251c8c8/html5/thumbnails/37.jpg)
Polling Question
How interested are you in ZenPayroll?
1. Interested
2. Somewhat interested (let me know when my state is available)
3. Interested, but not at this time
4. Not interested
5. Other (please list in question box)