APS Payroll Nets Significant Mid-Market Growth in 2011
Shreveport, LA - March 19, 2012 - Automatic Payroll Systems, Inc. (APS) is a national workforce management and payroll tax compliance provider committed to delivering value through flexible cloud technology and individualized support. For the calendar year of 2011, APS achieved a 26 percent revenue increase over the prior year attributed in large part to significant market share growth in the mid-sized business category (businesses with 100 to 2,000 employees). 2011 marks the 6th consecutive year in which APS’s annual revenue growth has exceeded 25 percent.
APS’s financial results also reflect its ongoing commitment to customer service. In 2011, APS achieved a customer retention ratio of 99.99 percent in its mid-size business category while rapidly expanding this segment. The company has proven its ability to manage its growth while markedly increasing the number of users, a major milestone for a Software as a Service (SaaS) company.
As a full-service payroll processing company, APS handles all the payroll tax filings and payments for its clients and guarantees its service work by committing to absorb any incurred tax fees. In 2011, APS processed over $1 Billion in payroll and tax payments, and realized a negligible 0.0000011 tax fee ratio as a percentage of total processing. The exceptional performance of its compliance service was achieved in an environment of changing federal and state payroll tax rules and regulations. “The error ratio is a key metric for our business and one we monitor closely,” said APS President Aaron Johnson. “The investments we have made to continually improve internal controls and processes enable us to scale our tax services and maintain the reliability that our customers depend upon.”
Johnson believes his company’s reputation for and commitment to superior support has been a primary factor in growing new business. “The innovative technology we deliver to clients and prospective clients gets us to the table, but it’s the quality of support we provide that keeps us there,” said Johnson. “Our high retention rate is a direct reflection of the unrivaled customer service and support APS provides. We continue to grow our sales, support and development teams with the goal of consistently exceeding client expectations.”
In 2011, APS was also ranked among the top national providers in CPA Practice Advisor’s National Professional Payroll Program Review. APS was reviewed in the Outsourced Systems and Programs Class, receiving a 4.5 out of 5.0 overall score and a 4.75 score in the Reporting & Monitoring and Integration/Import & Export categories, the highest score received by any provider in a review category.
APS Head of Marketing & Inside Sale,s Christian Valiulis, stated that the company also released major enhancements to its unified cloud platform, made additions to its reporting suite, added functionality to its Time & Attendance solution, and expanded its paperless payroll solution by partnering with U.S. Bank in 2011. Upgrades included:
- Launch of the AccelaPay® Card, a prepaid Visa® debit card loaded each pay date with the employee’s net pay amount, providing employees the flexibility of a debit card without requiring a checking account;
- Addition of benefits administration reporting, healthcare reporting, and employer reporting to the APS reporting suite;
- Standardization of the EEO-1 Report so that an agency-specific report may be generated at the click of a button; and
- Addition of shift differential support in APS’s Time & Attendance solution.
“Our strong client relationships help us to anticipate industry needs and deliver timely solutions,” said Valiulis. “In 2012, we will upgrade the HR module and complete platform upgrades to further increase application speed and allow for easy release of mobile applications with multi-browser compatibility for Time & Attendance and HR. We are rolling out more features than ever before to ensure that we continue to meet or exceed emerging client demand.”
APS is a national cloud-based HR solution provider and online payroll company committed to delivering value through flexible cloud technology and individualized support. Our cloud-based HR solution provides online payroll services, core HR, time & attendance, self-service, ACA reporting and compliance tools, and mobile in a single platform which can adapt to meet changing needs of companies in a wide range of industries.
APS is headquartered in Shreveport, Louisiana. For more information please visit www.apspayroll.com or call 855.945.7921.