Payroll efficiency matters: How three businesses upgraded theirs with BDO

Payroll efficiency matters

How three businesses upgraded theirs with BDO 

For small and medium enterprises (SMEs), managing payroll can be a time-consuming and daunting task. Calculating salaries, handling taxes, and releasing bi-monthly pay can be prone to errors, especially when done manually. By choosing the right bank, businesses can streamline payroll management, freeing up time for growth expansion without distractions. 

Three SMEs—spanning beauty and wellness, real estate, and freight forwarding—turned to BDO Unibank's Cash Management Services (CMS) for effective payroll systems, each using digital tools for more seamless operations and financial management.  

 

Peace of mind. Prioré Beauty and Wellness can now relax knowing their payroll is automated.

Prioré Beauty and Wellness: Reducing payroll stress

Prioré Beauty and Wellness Center, a company advocating self-care, is not immune to payroll-related stress, taking a chunk out of its staff’s personal time. Finance Head Cherry Mia Lamanosa is left to handle all the load of issuing checks and approving payroll disbursements. "I had to sacrifice weekends to handle our payroll and check disbursements manually for our suppliers." 

The beauty industry demands continuous learning, making efficiency crucial to remain competitive. "There are always new treatment methods to learn or equipment to invest in. Most of the time, deliveries happen on a weekend so I have to go to the clinic to take care of that," Lamanosa lamented. 

Thanks to BDO Business Online Banking, Prioré’s processing of salaries and checks is no longer tedious, allowing Lamanosa to focus on business growth and personal well-being. 

Upgraded. Sequioa Inn signs up for a better payroll experience with BDO.

Sequioa Inn: Cutting payroll time in half

Hotel chain Sequoia Inn initially enrolled in the bank’s digital solutions before the pandemic hit but had to pause operations due to lockdowns.  

Now, co-owner Stephanie Lynn Hao is ready to reintegrate into the modern system and expects to cut its payroll time from two hours to less than 60 minutes. "Manually inserting cash into envelopes took me around two hours to complete. With BDO’s payroll system, I can do it in way less than an hour."

Remote management also became crucial especially when Hao had to negotiate with suppliers while abroad. "I had to talk to the vendors if we could delay the issuance of checks. Thanks to BDO, I can now disburse checks even while traveling,” she added.

World Concord International: Promoting better financial habits

Emylin Ubaldo, owner of freight forwarding and brokerage firm World Concord International, considers her business as an opportunity to help employees especially in advancing their careers. She sees payroll automation as a tool for financial empowerment. 

A win-win for everyone. With an automated payroll, employees of World Concord International get their own bank account.

If the salaries are in the ATM, employees become more mindful of their spending. When they receive their bonuses, they can easily keep track of how much they have in their account. Seeing their hard-earned money grow encourages them to save more as against spending it right away,” Ubaldo noted.

By adopting the bank’s digital solutions, these SMEs achieved three levels of success: improved operational efficiency, mental well-being, and financial discipline among staff through innovation and secure banking. To know more about how BDO CMS can help SMEs thrive, visit https://www.bdo.com.ph or the nearest BDO branch in your area