Madison Resource Funding

New Hampshire based Madison Resource Funding has over 40 years of experience as a full-service funding source for temporary staffing agencies. Services provided by Madison include 100% payroll funding, weekly profit based on billings, not collections, complete financial & administrative back office support, and competitive rates with no hidden costs. Consistently recognized as an industry leader, Madison's pool of technical talent strives to produce high-quality, first-class products, and services that don't merely meet 'clients' needs, but surpass expectations.

The Business Challenge

Madison's processes for generating pay stubs and gathering timesheets for client companies was largely manual and paper based. Wanting to position their business for profitable growth, Madison searched relentlessly for a Web-based, integrated business automation solution that would function seamlessly with their existing business systems. Through searching on the internet for a cost-effective solution, Madison discovered GHG Corporation and electronic Employee Management Solution (eEMS). Suddenly the answer was obvious, and the decision to go with the eEMS suite of products was made within a few week's time.

Customer Primary Objectives

• Cost-effective, Web-based business automation solution that addresses pay stub and, timesheets.
• Seamless integration with Madison's existing business systems was a must.
• The solution had to enable Madison to compete effectively in their marketplace.

GHG Solution

GHG Corporation's Employee Management Suite (eEMS) which includes:

• electronic Time Sheet Management Solution (eTSS) : Provides a secure, password-protected system for tracking and management of employees' time by project, department, customer or other user defined category, available to employees and managers anywhere, anytime, from Internet-enabled computers.
  

• electronic Pay Stub Solution (ePSS) : A secure, easy-to-use Web-based tool that empowers employees to view their current and/or past pay stubs as needed, from Internet-enabled computers.
  

• electronic Recruiting and Staffing Management Solution (eRSMS) : Automates the recruiting and staffing process by providing a central repository for all vital recruiting data, and by facilitating quick and easy posting of job openings to both internal and external Web-sites resulting in shortened hiring cycles.
  

• electronic Human Resource Management Solution (eHRMS) : A secure Web-based, database driven solution that centralizes vital employee data including compensation, benefits, contract histories, and security clearance status which results in improved data accuracy, better management oversight, and reduced administrative costs.
  

• GHG's Installation, Customization and Training Services: GHG's technical experts worked with Madison to integrate and customize eEMS to meet their specific requirements. In addition, eEMS experts tailored a custom interface to Madison existing payroll software.

Return on Investment (ROI)

• End-to-End Process Automation
  
  By implementing eEMS, Madison has integrated its business processes, and consolidated vital organizational data into a centralized data repository that is easily queried and maintained. Madison is able to offer their customer base an online pay stub and timesheet.

• Affordable, Scaleable, Easy-to-use Solution
  
  GHG was able to install the eEMS software on GHG's servers and host the entire application for Madison. It required no up front investment, as Madison only pays a monthly license charge. Madison is able to add new clients in less than a day.
  
  Ease-of-use was an important factor to the success of eEMS within Madison: "eEMS is intuitive and easy-to-use. Drop-down menus and consistent user interfaces shorten ramp-up time and minimize training requirements. Employees, supervisors, project managers and accounting have all commented on how eEMS has had a positive impact by improving both the efficiency and accuracy of their business operations."

• Increased Customer Satisfaction
  
  Prior to implementing eEMS, Madison had generated and mailed pay stubs for each of its customers. With eEMS, Madison is able to load pay stubs immediately, and eliminate the cost of printing and distribution. Clients recognize and appreciate Madison's outstanding customer service.
  

• The Bottom Line
  
  Madison carefully tracked their cost savings following the implementation of eEMS, and realized a $.25 per pay stub reduction in operating costs. This savings is due to eliminating the reproduction and mailing costs associated with paper-based pay stubs. Labor savings derived from efficiency gains are not included in this conservative number. Currently, Madison provides 2000 pay stubs electronically every two weeks. This equates to $12,000 additional profit each year. Based on the tremendous cost savings, Madison's ROI for eEMS was less than one month.
  
  According to Tammy Strain-Derouin, Madison's CFO, "Implementing GHG's eEMS product suite has helped position Madison for growth. Integrating GHG's pay stub and timesheet software into our financial system has enabled us to streamline our business processes resulting in reduced operating costs and increased flexibility to map to our customers' requirements. Ultimately, we have improved our competitive edge."