Five Tax, a traditional accounting firm founded in 2011, has steadily grown to serve approximately 200 clients, half of whom require payroll services.
The firm primarily caters to small and medium-sized businesses (SMBs). As payroll is a significant service attracting clients to FiveTax, the firm sought to streamline its payroll processes, particularly in onboarding, filing, and recurring tasks, to reduce costs and enhance client relationships.
Here is the audio interview with Haseeb Akhtar, Owner of Five Tax, on why Rollfi was the perfect choice...
Challenges
Initially, Five Tax used traditional software like CFS Software and AccountantsWorld for payroll, which involved manual processes such as printing checks and filing forms. These systems were not only expensive but also labor-intensive, leading to occasional errors that were costly. The firm also experimented with AccountantsWorld but found its onboarding processes inadequate.
Criteria for a New Solution
Five Tax had specific non-negotiable criteria for selecting a new payroll provider:
White Labeling and Open APIs: The solution needed to allow white labeling to maintain FiveTax's brand presence and offer open APIs for integration with larger CRM and email-based systems.
Cost-Effectiveness: The solution had to be financially viable, ensuring that FiveTax's margins remained intact.
Configurability: Given the diverse needs of SMBs, the solution needed to offer extensive configurability to cater to various business requirements.
Choosing RollFi
After evaluating multiple options, Five Tax chose Rollfi due to its ability to meet all the firm's criteria. Unlike competitors like Paychex, Rollfi offered a white-label platform with open APIs, ensuring that FiveTax could maintain its brand identity while integrating seamlessly with other systems. Additionally, Rollfi's platform allowed for easy configuration, accommodating the unique needs of different SMBs.
Implementation and Results
The implementation of Rollfi's white-label solution was swift, taking only seven to ten days to launch the first client. Despite minor initial hiccups, the transition was smooth, allowing FiveTax to quickly move away from its previous systems.
Future Plans
With the white-label solution successfully in place, Five Tax plans to leverage Rollfi's APIs to create a bespoke experience for its clients. The firm is developing a CRM and document platform to integrate payroll services, aiming to meet clients where they are and offer customized solutions quickly and efficiently.
Conclusion
Five Tax's partnership with Rollfi has enabled the firm to streamline its payroll processes, reduce costs, and maintain strong client relationships. By choosing a solution that offers white labeling, open APIs, and configurability, FiveTax has positioned itself to meet the evolving needs of its SMB clients effectively.
About Rollfi
Rollfi provides the fastest way for Banks, Vertical SaaS companies, Accounting Firms, and Fintechs to integrate payroll and benefits into their offerings through our white-label solutions + robust APIs. By leveraging Rollfi’s infrastructure, businesses can unlock new revenue streams, increase customer retention, and access valuable payroll data insights. With rapid deployment and comprehensive coverage, Rollfi transforms your platform into a one-stop-shop for essential services, driving growth and enhancing customer satisfaction.
