Library System Simplifies Tax Calculations with TaxFactory™ by BSI

Company Profile

Founded in the late 1800s, this public library system is one of the largest in the United States. It offers 2.3 million annual visitors to its 66 branch locations access to 7.5 million educational items, 5 million books in 50 languages, tens of thousands of educational programs, seven adult learning centers, and five teen centers.

Challenge

With over 3,000 employees working in multiple tax jurisdictions, the payroll team’s ability to calculate payroll taxes became more complex. The task required a reliable solution to manage complex payroll tax calculations. The organization’s manual processes were error-prone and time-consuming, which increased the risk of non-compliance and costly penalties. The need for an efficient and automated payroll tax tool became a priority to reduce administrative burdens.

Solution

This library system turned to Business Software, Inc. (BSI) and its TaxFactory software to address its payroll tax challenges. TaxFactory is a cloud-based, scalable application designed to automate and simplify payroll tax calculations, helping ensure adherence to local, state, and federal regulations.

By integrating TaxFactory into their payroll system, the client achieved several key improvements:

  1. TaxFactory automated the organization’s payroll tax calculations, significantly reducing manual data entry errors. Its powerful engine automatically calculates taxes based on the latest regulations for each jurisdiction.
  2. With TaxFactory’s real-time updates, the need to manually track tax regulatory changes is eliminated. The solution automatically updates tax tables and rules, reducing the administrative workload on the payroll team, and helping to minimize errors.
  3. The library’s payroll team reported a noticeable decrease in time spent on tax calculations and corrections, freeing up resources to focus on more strategic tasks. This efficiency gain helped lead to increased productivity within the department.
  4. As a cloud-based platform, TaxFactory offered the library system scalability to adapt to changing needs without significant infrastructure investments. The flexibility of SaaS allowed for seamless integration with their existing payroll system, and minimal disruption to daily operations.

Since implementing TaxFactory, this client has seen a marked improvement in payroll tax processing efficiency. The program has reduced errors, and helped the library stay current with ever-changing tax regulations. Administrative burdens have been lessened, allowing the client to focus on its mission of providing valuable services to the communities it serves.

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