Dickens Wealth Management

Established in 1997, Tampa, Florida CPA firm, Dickens Wealth Management was focused on small to medium-sized businesses and supporting their clients during tax season.  Ten years later, the firm began offering payroll services but found doing it themselves was very time-consuming and expensive. In 2008, they partnered with IRIS to provide payroll services and payroll tax services to their clients.

Discover why they decided to make the switch to managed payroll services and how it resulted in less work for staff, while increasing revenue and client retention.

The Problem

When the firm first started doing payroll, Chris Dickens handled the payroll with holdings reporting for all the firm’s clients and employees. Not only was he responsible for filing 941s but he also had to manage after-the-fact payroll, resulting in a large workload of projects, and missing on-time payments. The payroll line of business was not only time and labor intensive, it also incurred significant overhead costs.

The Solution

Dickens Wealth Management began looking for a way to continue to offer payroll services without the heavy workload and overhead costs. The firm quickly adopted the IRIS Managed Payroll solution for the streamlined approach it provided, in addition to its cost-effectiveness and ease of use.  The solution was easily integrated with their existing software and solutions, making it possible to generate W2s automatically for all clients and their employees.

Partnering with IRIS allowed Chris to manage his clients’ accounts and provide them with the quality service they expected, but without bogging him down in payroll tasks.

“IRIS became a branch of my business.”

IRIS’s online portal and app provide a centralized location for Chris to gather information about every client, from any device, quickly. With all his clients on one dashboard, he can now pull all tax reports, create custom reports, generate audits, and get the information he needs immediately.

The Results

IRIS supports the firm’s wide range of clients from single-member S corps, where only one employee needs to take a salary, to medium-sized businesses, where payroll is processed bi-weekly for over a dozen employees. All receive consistent, reliable, and quality payroll services through the firm’s partnership with IRIS.

Chris says, “Since using the IRIS Managed Payroll solution, we’ve gotten a lot more payroll clients. It’s made it a lot easier to streamline those small business owners.” A major benefit has been the reliability when bringing on new clients. “When I meet with new clients, I can tell them I have a payroll solution for you, and I know that IRIS can deliver. If I get a tax notice, we can shoot that over to them, and they’ll handle it all for us.”

Because IRIS made payroll easy to manage, Dickens Wealth Management has been able to grow its client base and now has over 125 payroll clients. They have also expanded their services to include HR support.

Not only did MyPay help streamline the payroll process for their clients, but it also helped improve their total revenue by providing competitive pricing with no unnecessary hidden fees or charges. “IRIS has been one of the most cost-efficient payroll solutions I’ve seen. No matter if it’s weekly, bi-weekly, or monthly payroll, IRIS competes.”

Client retention is one of the biggest benefits gained from the solution. Because Chris is messaging and talking with his clients more than just during tax season, he can establish a stronger connection. Plus, clients are more likely to stay because they don’t want to lose their exceptional payroll support.

Achieve More with IRIS Managed Payroll Solutions

For over a decade, IRIS has helped Dickens Wealth Management provide their clients with reliable and accurate payroll support, giving their team the time and space to grow their client base and firm. IRIS can increase the profitability, while reducing the workload, of your firm’s payroll business, too. Contact us today and discover the impact IRIS payroll solutions can have on the growth of your business.