| Paychex Mulls SurePayroll for CPA Channel |
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| Written by The Progressive Accountant | |||
| Tuesday, 21 December 2010 20:52 | |||
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Mucci outlined the future of SurePayroll today as executives discussed the company's financial results for the second quarter ended November 31 during a conference call with Wall Street analysts. Asked about the possibility of offering SurePayroll via the Paychex CPA program, Mucci replied, "We are still working through that. I think it will appeal to some CPAs. We certainly see it as an opportunity for the CPAs to offer choice." SurePayroll offers a referral program for accountants, as well as a reselling program. There were several questions from analysts about SurePayroll since Paychex already owns an online payroll system. However, executives said the Paychex offering is designed more for those who want full service while SurePayroll is more for those who want self-service. The bigger marketing push is coming because the company is splitting the job formerly held by sales and marketing SVP Delbert Humenik, who left Paychex in October after 15 months in that position. Humenik, who joined SuperMedia in November as an EVP, got a $210,000 separation payment on the way out the door. Mucci said he expects to fill both the sales VP and marketing VP jobs in 45 to 60 days. The jobs were created to strengthen the Paychex brand, something Mucci said sometimes got lost in the sales effort. "It will develop more leads and better brand recognition," Mucci said about the creation of the new position. Both VPs will report to Mucci. Among other factors in Paychex's decision to pay about $115 million for Chicago-based SurePayroll was the target company had agreements for distributing its services through several banks. | |||
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About the Author: Brett Owens is CEO and Co-Founder of Chrometa, a Sacramento, Calif.-based provider of software that records activity in real time. Previously marketed to the legal community, Chrometa is branching out to accounting prospects; gains include the ability to discover previously undocumented billable time, save time on billing reconciliation and improve personal productivity. Brett is also blogger and founder at CommodityBullMarket.com and ContraryInvesting.com, as well as a regular contributor to two leading financial media sites, SeekingAlpha.com and BeforeItsNews.com. |