Improving Payroll Efficiency: Lessons from 3 Businesses Partnering with BDO

 

 

Payroll management can be a difficult and time-consuming task for small and medium-sized businesses (SMEs). Calculating salaries, processing taxes, and releasing bi-monthly pay can be prone to errors, especially when done manually. Selecting the appropriate bank allows companies to simplify payroll administration to free up time for distraction-free growth and expansion.

With the help of digital tools for more efficient operations and financial administration, three SMEs in the fields of freight forwarding, real estate, and beauty and wellness resorted to BDO Unibank's Cash administration Services (CMS) for efficient payroll systems.

Prioré Beauty and Wellness: Reducing payroll stress

Peace of mind. Prioré Beauty and Wellness can now relax knowing their payroll is automated.

Even the self-care-promoting Prioré Beauty and Wellness Center has stress from payroll, which takes time away from its employees' personal lives. All of the responsibility for writing checks and approving payroll disbursements falls on Cherry Mia Lamanosa, the finance head."I had to sacrifice weekends to handle our payroll and check disbursements manually for our suppliers."

Efficiency is essential to being competitive in the beauty sector, which requires constant learning."There are always new treatment methods to learn or equipment to invest in. Most of the time, deliveries happen on a weekend so I have to go to the clinic to take care of that," Lamanosa lamented. 

Thanks to BDO Business Online Banking, Prioré’s processing of salaries and checks is no
longer tedious, allowing Lamanosa to focus on business growth and personal well-being.

Sequioa Inn: Cutting payroll time in half

Upgraded. Sequioa Inn signs up for a better payroll experience with BDO.

Prior to the pandemic, hotel chain Sequoia Inn had already signed up for the bank's digital solutions, but lockdowns forced them to suspend operations. With the goal of reducing the payroll time from 2 hours to less than 60 minutes, co-owner Stephanie Lynn Hao is now prepared to reintegrate into the contemporary system."Manually inserting cash into envelopes took me around two hours to complete. With BDO’s payroll system, I can do it in way less than an hour."

Additionally, remote management became essential, particularly when Hao had to bargain with suppliers while overseas."I had to talk to the vendors if we could delay the issuance of checks. Thanks to
BDO, I can now disburse checks even while traveling,” she added. 

World Concord International: Promoting better financial habits 

A win-win for everyone. With an automated payroll, employees of World Concord International get their own bank account.

Owner Emylin Ubaldo of World Concord International, a freight forwarding and brokerage company, sees her company as a chance to support staff members, particularly in developing their careers. Payroll automation, in her opinion, is a tool for financial empowerment.

“If the salaries are in the ATM, employees become more mindful of their spending. When they receive their bonuses, they can easily keep track of how much they have in their account. Seeing their hard-earned money grow encourages them to save more as against spending it right away,” Ubaldo noted.

These SMEs achieved three degrees of success by implementing the bank's digital solutions: enhanced staff financial discipline, mental health, and operational efficiency through innovation and secure banking. For additional information on how BDO CMS can support the success of SMEs,
Go to the closest BDO branch in your area or visit https://www.bdo.com.ph.