#USA #McLean #Payroll Solutions #IRIS Software #Payro Finance

IRIS Software Group and Payro Finance Form a Strategic Alliance

In a significant move to aid small and medium-sized businesses (SMBs) in the United States, IRIS Software Group, a prominent provider of accounting, HR, and payroll solutions, has announced a strategic referral partnership with Payro Finance, an acclaimed business finance firm. This collaboration aims to empower SMBs to navigate short-term cash flow challenges effectively while ensuring timely payroll payments.

Addressing the Financial Struggles of SMBs

According to recent findings from a 2024 PYMNTS report, a concerning 22% of small business owners in the U.S. have encountered difficulties in covering essential bills due to cash flow issues. With increasingly stringent bank standards and reduced approval rates for SBA loans, many businesses are searching for practical financing alternatives. Payro Finance steps in as a reliable solution, offering a non-predatory option compared to traditional merchant cash advances or home equity lines, providing businesses much-needed financial relief.

Key Benefits of the Partnership

The alliance between IRIS and Payro Finance introduces various advantages for users of IRIS payroll solutions:

• - Quick and Flexible Funding: Access to a swift line of credit designed to provide a safety net during economic downturns, delayed receivables, or unforeseen disruptions. Businesses can apply in under five minutes, receive approvals within two days, and access funds on the same day—repaying loans in a short time frame of one to four weeks.

• - Affordable Financing Rates: Competitive financing options with rates starting as low as 1.5% per week, making it feasible for businesses to draw funds without incurring costs until the funds are accessed.

• - Seamless Integration: In the near future, IRIS plans to integrate direct access to Payro’s services within its payroll solution, streamlining the financing process for clients with over a year of affiliation, such as existing users of Apex HCM who might qualify for a $20,000 payroll line of credit at no charge.

Commitment to Supporting SMBs

Jim Dunham, President and General Manager of IRIS Americas, emphasized the partnership's significance, stating, “Payroll is the lifeblood of your business, and when timing is critical, a solution like Payro helps keep the heartbeat strong.” This collaboration reinforces IRIS's dedication to aiding SMBs in managing their complex payroll, HR, and compliance needs effectively. Dunham added that together, the partnership intends to offer peace of mind to SMBs while protecting their most valuable asset—its people.

Greg Javins, Chief Revenue Officer of Payro Finance, praised the partnership as a step towards building meaningful client relationships, acknowledging the often unspoken financial challenges faced by small business owners. He emphasized that the mission of Payro Finance revolves around easing payroll processing and ensuring employees receive timely payments with utmost reliability.

About the Companies

IRIS Software Group has gained global recognition for revolutionizing how businesses, accountants, and educational institutions tackle their critical operational tasks. Offering a range of customizable payroll, accounting, HR, and education management solutions, IRIS supports over 100,000 organizations across 135 countries, driving compliance and facilitating intelligent, data-led decision-making. More about IRIS can be found at www.IRISGlobal.com.

Payro Finance, established in 2019, focuses on delivering payroll financing to a diverse range of small businesses across various sectors. The company aims to relieve stress associated with payroll processing through their unique on-demand financing solutions, enhancing operational continuity for their clients. To learn more, visit www.payrofinance.com.

This strategic partnership signifies a forward-thinking approach towards improving financial accessibility and support for the backbone of the economy—small businesses. Through innovative solutions and collaborative efforts, IRIS and Payro are poised to address the pressing cash flow concerns faced by many in the SMB landscape today.