Fontainebleau Miami Beach
4441 Collins Avenue
Miami Beach, FL 33140
Monday, March 14, 2011
CASE STUDY: HOW PAYCHEX DECREASED FRAUD LOSSES IN TURBULENT TIMES
In an era of increased fraud, Paychex has kept their losses stable through creative measures. A critical opportunity to identify fraud situations surrounds the period where clients are on-boarded to Paychex services. Paychex worked with State and Federal Law Enforcement and other payroll providers to establish a Fraud Consortium, allowing potential fraudsters to be identified proactively. Fraud losses decreased by 33% within the first few months, helping Paychex to “hit the number" in turbulent times.