Franchise Journal January 2021

Page 140



Designed for Small & Mid-Sized Businesses by Jon Ovens, Content Writer, FranDevCo

In addition to the “traditional� essential services of automotive, renovation or cleaning services we usually think of first, we don’t need to forget there are also Business-to-Business (B2B) essential services. Payroll services is a very essential service for businesses. Payroll Vault is a boutiquestyle, full-service payroll company. It's designed for small and mid-sized


businesses that may not need a large payroll services vendor and full suite of services those offer. The company is founded by a career CPA who identified the benefits of separating payroll from traditional accounting to achieve more efficient results. Because they understand small and mid-sized businesses, they are able to help them achieve their business growth objectives faster. This is a great business opportunity, fueled by a multibillion-dollar industry that is growing every day. Over


the years, compliance standards have consistently and frequently changed. Also, Labor Law is evolving as technology advances and legislation is leading the way to increased complexity in all areas. These changes have made payroll processing timeconsuming for small to midsize business owners. In 2008, Payroll Vault identified the need to focus on payroll and workforce management services to