Upselling Payroll Processing to Your Current Merchant Services Clients

Adding a new product like payroll processing to your existing offerings can seem a bit challenging if you’ve never sold payroll before. But with just a bit of coaching, it may be easier than you think. In a recent blog post, James outlined the three types of competitors and the typical client response to the question of how a client does their payroll CLICK HERE to read that article.  Once you’ve gotten one of your clients interested in payroll processing, you need to collect some basic information.  Here is what you need:

The easiest way to give them an accurate quote is to ask for an invoice from their current payroll provider.

This “invoice” will contain the following:
1. Pricing
2. Payroll frequency
3. Features that are included in the PayPros quote (check signing, check stuffing, benefit accruals)
4. Features of their current system that PayPros charges extra for (ancillary features like Garnishments, 401(k) Administration, Section 125 administration).

Now that you have this information, you are ready to get a cost analysis / quote.  You can accomplish this by emailing the invoice or the information above to Ben Shirey ( ben@transactionexpert.com )  He and Mike Laigle will work with you to create a proposal for your clients showing them cost savings and they will help you develop a pitch to differentiate our service from the competition.

Once you present the analysis, fill out the pricing sheet and get the client to sign it. Great! You’ve signed up a client!

The client will need to provide additional information to get payroll up and running. However, it is in your best interest to collect the data from the client and not rely on the client filling out the information themselves—in our experience there is much more likelihood of the client missing a piece or two of information or otherwise holding up the process unnecessarily, and you will finish the process much more quickly if you assist in collecting the data and getting it to us.

Ben Shirey and the team at Transaction Expert will help you at each step of the way to get the paperwork completed and get the client up and running so you get paid faster.

The three pieces of information you can collect to make our job easier and get your client processing faster are as follows:
 1. The most recent Federal Form 941 (For your information, a 941 is a quarterly tax form that documents how much your client is collecting in payroll taxes on behalf of the Federal or State governments)
2. The most recent State Form 941
3. The Payroll Master (if this is not available then the Payroll Register). This is a report that takes every employee’s pay stub from a particular period and puts it in one report.

If you are converting an ADP client, you will need to following three things:
1. The “Statement of Deposits and Filings” for their State. This contains the same information in the 940 or 941
2. The “Statement of Deposits and Filings” for the Federal Government
3. The “Master Control” which, like the Payroll Master, lists each employee’s pay stub from a given pay period.

Once you have these three pieces of information, we will work with you to get your client up and running quickly and regardless of what time of year, we can help create a smooth transition for your client.  I am looking forward to working with the Transaction Expert team to help each partner build their payroll processing portfolio!

Gerod Gianattsio