Finance and Accounting Services in the Philippines
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Case Study on HR Support Services for PEOs
Overview
The concept behind a Professional Employer Organization (PEO) is co-employment, where two employers, the business and the "PEO" co-employ the individuals who work for the business. The PEO typically handles the administration side of employment, providing paperwork, establishing and maintaining employee files, processing payroll, filing payroll taxes, developing employee handbooks, benefit administration, workers compensation management, compliance assistance and human resource support. A PEO serves as an offsite HR department.
Client
PEO firm - Idaho
Client's Challenges
- Handling lot of paperwork
- TAT
- Managing peak load
O2I's Back Office Services Provided
- New hires - Going through all the paperwork including forms like I9, employee undertakings etc to determine if everything is in order or to locate missing information to be taken from the employee
- Setting up new employees in Accountix (payroll and A/P software)
- Help in payroll processing services during the pay days
- Do benefit reconciliation
- Enter invoices in the A/P module of Accountix and do the reconciliation
Impact on Client's Business
- Staff and related expenses cut significantly
- Faster TAT
- Seasonal load managed well
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Bookkeeping Services in the Philippines
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