Online payroll provider Wagepoint this week announced it has processed more than $120 million in payroll since the company’s launch to market in 2013.
The Canadian company also announced today its expansion into the US marketplace, with support for federal, state and local tax reporting in all 50 states and territories.
According to The Canadian Payroll Association, 1.5 million employers annually produce more than 26 million T4 slips, nearly 10 million T4A’s and nearly seven million RL -1’s. They also annually pay $860 billion in wages and taxable benefits, $268 billion in statutory remittances to the federal and provincial governments and $94 billion in health and retirement benefits, while complying with more than 190 federal and provincial regulatory requirements.
The Waterloo-based Wagepoint was designed to eliminate the complexity that goes hand in hand with the payroll process, allowing small business owners to focus driving revenue and build lasting customer relationships. Wagepoint’s solution has now been adopted by 500 small businesses in a range of industries across Canada, supporting a workforce of more than 4,000 people.
Wagepoint describes itself as “an all-in-one-payroll solution” that is simple to install and use and filled with the essential features companies need to manage their payroll process. Pricing starts at a $20 base fee plus $2 per employee per payroll in Canada.