Customer Story: Stream Financial Services Inc.

Stream Financial Services Inc., founded in 2005 by Darren Giesbrecht, is a financial planning company that helps clients achieve their financial goals through comprehensive planning and investment management. As the company grew, Darren found himself spending increasing amounts of time on administrative tasks, particularly payroll processing, which was taking valuable time away from serving clients and growing the business.

The manual payroll process was becoming increasingly complex as the company added employees and needed to manage various deductions, benefits, and compliance requirements. Darren needed a solution that would allow him to focus on his core business of financial planning whilst ensuring payroll was handled accurately and efficiently.

Payworks provided Stream Financial with a comprehensive payroll solution that automated their entire payroll process. The implementation included:

• Automated payroll processing that eliminated manual calculations and data entry
• Integration with their existing accounting systems for seamless financial management
• Compliance management to ensure all government remittances and filings were handled correctly
• Employee self-service capabilities allowing staff to access their pay stubs and tax documents online
• Dedicated customer service support for any questions or issues

The cloud-based system allowed Darren and his team to access payroll information from anywhere, providing flexibility for their business operations. Payworks also handled all year-end processing, including T4 preparation and distribution.

Since implementing Payworks' payroll solution, Stream Financial has experienced significant improvements:

• Reduced payroll processing time from several hours per pay period to just minutes
• Eliminated payroll errors and compliance issues through automated calculations and remittances
• Freed up valuable time for Darren to focus on client relationships and business development
• Improved employee satisfaction through reliable, accurate, and timely pay processing
• Streamlined year-end processes with automated T4 generation and distribution
• Enhanced data security and backup through cloud-based storage
• Reduced administrative costs associated with manual payroll processing