About Madison Resource Funding
New Hampshire based Madison Resource Funding has over 40 years of experience as a full-service funding source for temporary staffing agencies. Services provided by Madison include 100% payroll funding, weekly profit based on billings, not collections, complete financial & administrative back office support, and competitive rates with no hidden costs. Consistently recognized as an industry leader, Madison’s pool of technical talent strives to produce high-quality, first-class products, and services that don’t merely meet ‘clients’ needs, but surpass expectations.
The Business Challenge
Madison’s processes for generating pay stubs and gathering timesheets for client companies was largely manual and paper based. Wanting to position their business for profitable growth, Madison searched relentlessly for a Web-based, integrated business automation solution that would function seamlessly with their existing business systems. Through searching on the internet for a cost-effective solution, Madison discovered GHG Corporation and electronic Employee Management Solution (eEMS). Suddenly the answer was obvious, and the decision to go with the eEMS suite of products was made within a few weeks time.
Customer Primary Objectives
- Cost-effective, Web-based business automation solution that addresses pay stub and, timesheets.
- Seamless integration with Madison’s existing business systems was a must.
- The solution had to enable Madison to compete effectively in their marketplace.
GHG Solution
GHG Corporation’s Employee Management Suite (eEMS) which includes:
- electronic Time Sheet Management Solution (eTSMS): Provides a secure, password-protected system for tracking and management of employees’ time by project, department, customer or other user defined category, available to employees and managers anywhere, anytime, from Internet-enabled computers.
- electronic Pay Stub Solution (ePSS): A secure, easy-to-use Web-based tool that empowers employees to view their current and/or past pay stubs as needed, from Internet-enabled computers.
- electronic Recruiting and Staffing Management Solution (eRSMS): Automates the recruiting and staffing process by providing a central repository for all vital recruiting data, and by facilitating quick and easy posting of job openings to both internal and external Web-sites resulting in shortened hiring cycles.
- electronic Human Resource Management Solution (eHRMS): A secure Web-based, database driven solution that centralizes vital employee data including compensation, benefits, contract histories, and security clearance status which results in improved data accuracy, better management oversight, and reduced administrative costs.
- GHG’s Installation, Customization and Training Services: GHG’s technical experts worked with Madison to integrate and customize eEMS to meet their specific requirements. In addition, eEMS experts tailored a custom interface to Madison existing payroll software.
Return on Investment (ROI)
- End-to-End Process Automation
- Affordable, Scaleable, Easy-to-use Solution
- Increased Customer Satisfaction
By implementing eEMS, Madison has integrated its business processes, and consolidated vital organizational data into a centralized data repository that is easily queried and maintained. Madison is able to offer their customer base an online pay stub and timesheet.
GHG was able to install the eEMS software on GHG’s servers and host the entire application for Madison. It required no up front investment, as Madison only pays a monthly license charge. Madison is able to add new clients in less than a day.
Ease-of-use was an important factor to the success of eEMS within Madison: “eEMS is intuitive and easy-to-use. Drop-down menus and consistent user interfaces shorten ramp-up time and minimize training requirements. Employees, supervisors, project managers and accounting have all commented on how eEMS has had a positive impact by improving both the efficiency and accuracy of their business operations.”
Prior to implementing eEMS, Madison had generated and mailed pay stubs for each of its customers. With eEMS, Madison is able to load pay stubs immediately, and eliminate the cost of printing and distribution. Clients recognize and appreciate Madison’s outstanding customer service.
The Bottom Line
Madison carefully tracked their cost savings following the implementation of eEMS, and realized a $.25 per pay stub reduction in operating costs. This savings is due to eliminating the reproduction and mailing costs associated with paper-based pay stubs. Labor savings derived from efficiency gains are not included in this conservative number. Currently, Madison provides 2000 pay stubs electronically every two weeks. This equates to $12,000 additional profit each year. Based on the tremendous cost savings, Madison’s ROI for eEMS was less than one month.
According to Tammy Strain-Derouin, Madison’s CFO, “Implementing GHG’s eEMS product suite has helped position Madison for growth. Integrating GHG’s pay stub and timesheet software into our financial system has enabled us to streamline our business processes resulting in reduced operating costs and increased flexibility to map to our customers’ requirements. Ultimately, we have improved our competitive edge.”
About MRI Technologies
MRI Technologies is a successful NASA Prime Contractor with an award winning reputation for excellence. Our record of customer satisfaction is based on consistent on-time delivery of dependable, flexible, and superior services and products.
Founded in 1987, we are a woman-owned small business specializing in information systems, engineering, project management, and library services. We use a structured teamwork approach and continually invest in our team members’ and our company’s future success through ongoing research, cross-training, and employee development programs.
The Business Challenge
MRI’s timekeeping processes were largely paper-based and required a great deal of supervisor intervention. Recently the DCAA had conducted a Floor Check (Timesheet Audit) to determine the adequacy of MRI timekeeping policies and practices. After the audit it was determined that MRI needed to take corrective action to ensure they could meet the DCAA timekeeping requirements, and pass the next DCAA floor check.
Customer Primary Objectives
- Cost-effective, Web-based time and attendance system that would ensure DCAA Compliance.
- Integration with MRI’s existing accounting solution Great Plains would be a plus.
- Simplify the MRI’s current timekeeping processes.
GHG Solution
GHG Corporation’s Employee Management Suite (eEMS) which includes:
- electronic Time Sheet Management Solution (eTSMS): Provides a secure, password-protected system for tracking and management of employees’ time by project, department, customer or other user defined category, available to employees and managers anywhere, anytime, from Internet-enabled computers.
- electronic Pay Stub Solution (ePSS): A secure, easy-to-use Web-based tool that empowers employees to view their current and/or past pay stubs as needed, from Internet-enabled computers.
- electronic Recruiting and Staffing Management Solution (eRSMS): Automates the recruiting and staffing process by providing a central repository for all vital recruiting data, and by facilitating quick and easy posting of job openings to both internal and external Web-sites resulting in shortened hiring cycles.
- electronic Human Resource Management Solution (eHRMS): A secure Web-based, database driven solution that centralizes vital employee data including compensation, benefits, contract histories, and security clearance status which results in improved data accuracy, better management oversight, and reduced administrative costs.
- GHG’s Installation, Customization and Training Services: GHG’s technical experts worked with MRI personnel to integrate and configure eTSMS to meet their DCAA timekeeping requirements. In addition, GHG tailored integration with Great Plains to ensure a smooth transfer of time and attendance data from eTSMS to Great Plains. Kim Haw, Accountant for MRI explained, “GHG understands the government contractor requirements. They have a great deal of experience working with the DCAA and understanding the requirements for timekeeping.”
Return on Investment (ROI)
- Compliance with DCAA Timekeeping Guidelines
- End-to-End Process Automation
- Increased Customer Satisfaction
By implementing eTSMS, MRI has become DCAA Compliant for timekeeping in less than 3 weeks.
By implementing eTSMS, MRI has integrated its business processes, and consolidated vital organizational data into a centralized data repository that is easily queried and maintained. MRI will leverage these new systems to support its anticipated business growth, without experiencing a corresponding increase in administrative and accounting staff, thereby achieving the desired economies of scale.
Prior to implementing eTSMS, MRI collected paper timesheets and had great difficulty responding to customer requests for ad hoc reports. With eTSMS, customer billing is fast and accurate. Requests for custom reporting or unique time accounting requirements are easily and quickly accomplished. Clients recognize and appreciate MRI’s outstanding customer service.
The Bottom Line
MRI is now DCAA compliant for timekeeping, integrated timesheets with Great Plains, and simplified the entire time and attendance process, while saving money. According to Tim Kropp, MRI’s President, “Implementing GHG’s eTSMS product ensures that MRI will pass future DCAA floor checks. In addition, by integrating with our accounting system, we have been able to get an immediate return on our investment.”