Pitney Bowes Offers Employees An Electronic Pay Stub
Stamford, Conn., September 4, 2002-Pitney Bowes Inc. (NYSE: PBI), a four-billion dollar global provider of integrated mail and document management solutions celebrates National Payroll Week (September 2-6) with the introduction of an electronic pay stub to provide convenience and security and as a way to further reduce costs traditionally associated with paper-based payroll processes.
Employees who have opted for direct deposit receive an e-mail message with a link to a password-protected Web site to receive their most current pay stub information.
The electronic pay stub eliminates the need for paper stock, storage, printing, inserting and distribution. According to the National Automated Clearing House Association (NACHA), companies can save as much as $1.85 for each eliminated paper pay stub. Companies with employees at remote locations can further eliminate the use of costly overnight delivery services or the U.S. mail.
The program has been well received by Pitney Bowes employees. Roughly one third of eligible employees have enrolled in the electronic payroll application.
"Streamlining the payment process can have a significant impact on a company's bottom line," said Karl Schumacher, president of Pitney Bowes docSense, a wholly owned subsidiary of Pitney Bowes that provides software for multi-channel document delivery. "Using an electronic bill presentment and payment (EBPP) product like our D3 software for a payroll application is a good way for companies to practice better employee relationship management (ERM) techniques."
ERM, a variant on the idea of customer relationship management (CRM), uses technology to optimize all the interactions between the employee and corporation, including communication, training, collaboration and financial processes. With the pay stub application, for example, employees no longer have to worry about keeping track of their pay stubs, which are digitally archived in an XML database.
National Payroll Week celebrates the unique partnership among America's workers, their companies and the payroll professionals who, through payroll withholding, contribute and collect two-thirds of U.S. Treasury revenue.
Pitney Bowes Inc. is a $4 billion global provider of integrated mail, messaging and document management solutions headquartered in Stamford, Connecticut. The company serves over 2 million businesses of all sizes through dealer and direct operations. Pitney Bowes docSense is the company's global provider of premier solutions for the creation and distribution of efficient and effective documents in paper and digital form. For more information, please go to www.pb.com.