PaymentEvolution Corporation

PaymentEvolution Corporation

April 13, 2010 08:00 ET

PaymentEvolution Makes Payroll Processing and Reporting Easy and Affordable for SMBs and Accounting Professionals in Canada

New Online Payroll Service Offered Free to Companies With Up to Five Employees

TORONTO, ONTARIO--(Marketwire - April 13, 2010) - PaymentEvolution Corporation, a Canadian provider of payroll services for small and medium businesses (SMBs), today launched PaymentEvolution Payroll, a new online payroll processing and reporting service for SMBs and accounting professionals in Canada. Companies with one to five employees can use the service free of charge.

According to a survey by the Canadian Payroll Association, processing work hours, collecting data, making adjustments, recording, verifying and reporting, make up most of the time spent by payroll professionals. The next most time consuming functions include managing employee records and making payments(1).

"To be a successful small business means you have to focus your resources on revenue generating activities," says Sam Vassa, Managing Director, PaymentEvolution Corporation. "PaymentEvolution Payroll empowers SMBs by taking the headache out of payroll management at little or no cost."

PaymentEvolution Payroll is a cloud-based service that enables users to manage their own payroll in a simple and cost-effective manner by providing an easy-to-use, secure and feature-rich interface that can be accessed with any web browser from any location.

"Whether they want to do a simple one-time calculation, run a year-end report or give employees access to electronic paystubs, SMBs are in control of their payroll with PaymentEvolution and they can customize their payroll application and data to suit their business needs at no charge," Vassa adds.

Secure and Up-to-date Payroll Data Made Available Anytime

SMBs can run their own payroll via www.PaymentEvolution.com or let their accountants process payroll easily on their behalf from any location with access to the Internet. Customers' data is kept up-to-date and secure in PaymentEvolution's state-of-the-art data centres. All data is replicated in several disaster recovery sites.

PaymentEvolution Payroll also offers unlimited Canadian source deductions, various payment options, electronic pay slips and complete current record retention. The service even allows for online time sheet entry for non-salaried employees. PaymentEvolution Payroll is also ideal for foreign companies paying employees who work in Canada.

New Opportunities for Independent Accountants and Accounting Firms

PaymentEvolution Payroll helps independent accountants and large accounting firms deliver payroll services to their own customers. With preferred pricing, immediate updates and notifications, client leads, robust reporting and more, PaymentEvolution's accounting firm customers and partners can customize payroll services for their own customers and employees, increasing profitability and productivity.

"We are always looking for ways to offer leading-edge and cost-effective services that make our clients' lives easier," says Todd Trowbridge, CA, Trowbridge Professional Corp. Chartered Accountants. "The PaymentEvolution Payroll service helps us bring the latest innovations in payroll technology to our client base without cumbersome software to install, maintain and upgrade."

"As a complete solution that includes full online access, configuration, training, service and support, PaymentEvolution Payroll eliminates any additional fees other providers charge for the level of customization we require to deliver on our clients' needs," adds Trowbridge.

Predictable Pricing

Unlike other payroll service providers, PaymentEvolution offers SMBs a predictable, flat rate fee for its payroll services. There are no per-employee fees nor update fees when tax tables change. Businesses with one to five employees pay no payroll processing fees. Those with six or more employees pay only Cdn$18 per month.

For accounting firms and partners, multiple company management with delegation capabilities is standard. PaymentEvolution offers the same predictable flat rate model with the option to fully private-label the service. There are no per employee fees, no limit on the number of pay periods and no update fees for tax table changes.

About PaymentEvolution

PaymentEvolution empowers Canadian small and medium businesses, accounting firms and partners to manage payroll quickly and easily at low or no cost. Headquartered in Toronto, Canada, PaymentEvolution is lead by a team of technology professionals with many years of experience in Financial Services, Capital Markets and Management Consulting for major corporations and SMBs. Learn more at: www.PaymentEvolution.com.

(1) 2007 Canadian Payroll Association national payroll week survey

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