Credit union CooPACA has partnered with payroll processing firm alchavo.com to offer fully automated services payroll processing to customers, CooPACA CEO William Méndez-Pagán announced.
“Through this alliance, we became the first credit union in facilitating access to a robust cloud-based technology platform that automates payroll processing. Our customers have requested this service and we have responded to facilitate the management of their finances,” Méndez said, adding payroll processing is often a headache for growing businesses and a source of non-compliance with government regulations.
“The payroll management function is a vital financial component for any company. With this new tool, we can help them grow and become more competitive,” said Méndez, adding that the platform stores the information in the cloud through Microsoft Azure.
The initiative seeks to benefit the credit union’s nearly 1,400 business customers, for which it will launch a campaign to promote the use of this platform.
As part of the alliance with alchavo.com, workshops were conducted to train CooPACA’s management staff in everything related to the functionality of the new product as well as other commercial products, executives said.
“We’re excited to extend our technological tools payroll to CooPACA’s business customers. Our payroll services are designed specifically for small and medium businesses in Puerto Rico that are seeking an efficient process, enabling them to automatically meet the different calculations, deposits and reports,” said Antonio F. Secola, president of alchavo.