Financial executives are valued for their attention to detail. They are relied upon to prepare accurate financial statements and to help strategize financial decisions regarding taxes, capital, borrowing, and filings with the IRS. A large portion of their job is to protect the company and its top executives from catastrophic to minor financial dilemmas. Part of a financial executive’s job is to keep the ship from running into the rocks. However, many of these financial executives do not protect their company and its top executives from submitting erroneous non-compliant, illegal payrolls. Inaccurate payrolls can result in fines, debarment, and even jail time. Based on a study of 100,000 payrolls, it has been identified that at least 20 percent of payrolls will contain one or more errors when audits of these payrolls rely on human review. Out of compliance payroll checks are a serious matter.
DAVIS-BACON ACT
The Davis-Bacon Act, passed by congress in 1931, requires private contractors to pay “prevailing wages” to employees on all federally funded construction projects over $2,000. Stiff fines and jail time can result if payroll checks are not in compliance with this act. There are 30 compliance regulations that must be adhered to for every check. Doing payroll by hand every week is time consuming, costly, and risky.
However, there is a way to reduce your compliance risk to zero. Yes, there is a 100 percent safe alternative to relying on fallible human audits of a construction business’ payroll.
COMPLIANT PAYROLL
The Compliant Client system by eMars is your answer for worry-free compliant payroll. The system is easy to install and use. It provides immediate, concurrent, real-time visibility of all payroll records of the sub, prime, plus the owner agency. All screens are printable. Every submitted payroll is audited, online and in real time, against the wage determination and all 30 causes that are in support of Davis-Bacon and related acts. The results of these comparisons to the provisions set forth in the act are immediately reported, allowing corrections to be made promptly.
Submissions can now be processed electronically, resulting in the entire process taking one-tenth of the time it takes to prepare, audit, correct, and submit a hand-finished payroll.
Compliant Client requires a PC and less than 30 minutes of training. Complete implementation takes less than 1 day after loading the wage determination. A typical payroll is prepared in less than 5 minutes. Compared to paper and pencil preparation, the eMars system represents an 80 percent productivity improvement, plus instant recognition of payroll errors that prompt the user how to solve the problems and guarantee compliance.
The system was designed with considerable input from the Department of Labor, agencies, and contractors. Compliant Client’s 15,000+ clients have not had any random Department of Labor audits for the past 3 years. The Department of Labor’s Chief of Compliance stated that “…your system already has completed the first level of an audit.”
ENCRYPTION
Compliant Client also encrypts at rest data, giving another layer of security for this sensitive data, disallowing use of the information.
What happens to typical at rest data in most computers? For many organizations, private at rest data is only protected by the username and code to get into the computer.
Encryption is usually costly and sometimes requires specialized technical knowledge and manpower.
Mr. Rick Paul of ITS says that, “The primary purpose of encryption is to protect the confidentiality of digital data stored on computer systems or transmitted via the internet or other computer networks. Modern encryption algorithms play a vital role in the security assurance of IT systems and communications. They can provide not only confidentiality, but also the following key elements of security:
- Authentication: The origin of a message can be verified.
- Integrity: Proof that the contents of a message have not been changed since it was sent.
- Non-repudiation: The sender of a message cannot deny sending the message.
Why would eMars, offering Compliant Client, protect it’s “at rest data?”
“Security and peace of mind for our clients is our major concern,” says Woody Chamberlain, president of eMars Incorporated, the company that offers Compliant Client. From routine payroll reviews to the complicated tracking of certified apprentices and calculation of restitution, the Compliant Client ensures that your at rest payroll data is encrypted, remains error free, and follows Davis-Bacon and other related acts.
“We handle, save, and encrypt hundreds of thousands of bits of information for our clients. Their workers privacy and sanctity cannot be compromised,” says Mr. Chamberlain, who formerly was in high level administration for a select group of top organizations across the United States.
CONCLUSION
Perhaps some financial executives are unaware of the amazing Compliant Client system by eMars. “Ignorantia legis neminem excusat” is the famous Latin phrase, translated to English meaning—“ignorance of law excuses no one.”
Now, unawareness of an easy-to-use compliant payroll product that offers 100 percent compliance, excuses no one. Compliant Client by eMars makes payroll easy and worry-free for any construction company doing business with any federally funded business.
For more information:
For more information, contact eMars at 480.595.0466 for a no-obligation discovery phone call, by email at woody.chamberlain@emarsinc.com, or visit www.emarsinc.com.
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Modern Contractor Solutions, May 2018
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