QBSS Releases Results of its 2018 Payroll Benchmark Survey
Results indicate increased optimism, as a majority of the SMBs expect their business to grow over the next few years
Atlanta, GA – November 30th, 2018- Quatrro Business Support Services, a market leader in providing end-to-end business support services to mid-market clients, released the results of its 2018 Payroll Benchmark Survey focused on small and medium businesses (SMBs). By positioning themselves as a key knowledge partner for SMBs, QBSS has firmly established a position as the ‘Service provider of choice’ for SMBs across the US and leverages industry-leading technologies to deliver its accounting and payroll services.
QBSS’s payroll benchmark survey was conducted between October and November 2018 with the goal of gathering information for SMBs to benchmark themselves against their peers. Senior executives from the survey participants provided information on topics like their organization’s payroll cycle, payroll processes, payroll systems and the biggest pain points pertaining to payroll in their organization.
KEY RESULTS FROM THE SURVEY INCLUDE:
- The majority (62%) of the respondents are predicting their company will grow over the next few years
- 95% of the respondents indicates that their organization currently has a standardized payroll process in place
- The top 3 identified pain points pertaining to payroll processing include: tracking employee hours, labor intensive processes and maintaining compliance
Charles Harmornick, President, Quatrro Business Support Services, said “It’s encouraging to learn that the industry is beginning to recognize the growing importance of increasing standardization across payroll processes. Also, there is a growing need among SMBs for HR technology and outsourcing services, especially given the ever-increasing number of regulations.” Charles further added, “This year, we remained aggressive in pursuit to partner with leading payroll technology providers which enable us to gain access to best in class technological platforms to deliver critical payroll and human capital solutions for the clients and employees we have the privilege to serve”.
QBSS’s advanced technology, process transformation capabilities and expertise allows them to provide superior payroll and accounting services to their clients, and remain competitive in a dynamic industry ecosystem.
ABOUT QUATRRO BUSINESS SUPPORT SERVICES (QBSS)
Quatrro Business Support Services, one of the leading businesses under the QBSS brand, consists of a range of affordable end-to-end business support services aimed at meeting the needs of small to medium sized businesses while also scaling to meet the needs of enterprise organizations.
QBSS offers a broad range of platforms and cloud-based accounting & payroll services by leveraging the industry’s leading accounting/payroll platforms designed to create economies of scale resulting in enhanced financial visibility, lower costs and improved business processes. Its client base includes more than 6500+ small & medium businesses across the auto parts, restaurant, retail, healthcare, childcare, hospitality and non-profit industries, including franchises of some of the most iconic brands in the nation.
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