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Here are some of the ways that GTM reassures our clients that their tax deposits for payroll are secure.
Management Controls:
- GTM is independently and routinely audited and as a result is SOC-1 compliant.
- GTM pays strict attention to Industry Best Practices.
- President/Founder is involved in daily operations and the management team enforces that management controls that are in place. Management controls include daily reconciliation of banking transactions by several different employees which deter fraud and unethical behavior.
- Some of the larger corporations GTM works with, such as banks and publicly traded companies, are also concerned with the same things you are, including rigorous Data Security Controls. They too have a set of vendor standards that GTM abides by and is tested on regularly.
People:
- GTM employs approximately 50 experienced and screened professionals, who collectively have over 300 years of payroll experience. These professionals pledge confidentiality and a high level of professional ethics.
- GTM promotes on-going staff education and CPP and FPC Certifications that also abide by strict payroll ethics.
- Members of GTM’s management team reside in the community and sit on the community and national boards including a National Payroll Association.
- GTM has a corporate succession plan in place.
Longevity:
- GTM has been in the industry for 23 years.
- GTM works with over 5,000 clients who can verify our track record of making deposits.
Financial Stability:
- GTM has a very strong balance sheet and is debt free.
- GTM owns a 10,000 square foot building that houses GTM’s operation which sits on 3 acres of property in the town of Halfmoon, NY.
- GTM’s CPA firm is Wojeski and Company CPA’s of East Greenbush, NY who can comment on GTM’s financial stability.
- GTM’s bank is NBT Bank. NBT extends GTM ACH credit and can comment on GTM’s financial stability.
Disclosure/External Controls:
- GTM discloses to all clients on an on-going basis how they may independently verify that all tax payments are made. Such as through the EFTPS system for Federal Tax and NYS Prompt tax system for NY Tax payments.
- GTM is an approved IRS e-filing firm.
- GTM ensures all client agency correspondence is sent to the client’s address and not to GTM. In the event of an issue, this ensures clients are notified first.
- The federal government and NYS are discussing the possibility of requiring payroll companies to be licensed. GTM has either met or exceeded the proposed level of standards.
Insurances Include:
- Professional Liability – 1,000,000 limit
- Employee Theft/Dishonesty – 1,000,000 limit
- Cyber Theft Insurance – 1,000,000 limit
Clients: please contact your customer service representative if you have any questions.
To see why GTM is the best choice for outsourcing your company’s payroll, please get a quote today!
