W. Lee Flowers & Company, Inc.
3,500 total employees (retail and corporate)
1,458 paper checks
W. Lee Flowers and Company, Inc.
64 Locations in North Carolina, Georgia, South Carolina
About W. Lee Flowers and Company, Inc: W. Lee Flowers and Company, Inc. is a both a wholesale grocery distribution center and a retail operator of 49 KJ’s Market and IGA retail grocery stores in South Carolina, North Carolina and Georgia. The Company was founded in 1922 and is based in Scranton, South Carolina.
The Situation: The company was having issues with how to get their unbanked employees on direct deposit. They started the process of rolling out the option of direct deposit to all their corporate and retail employees all while trying to reduce the cost of processing payroll by working to eliminate paper check processing.
The Solution: They decided to go with a pay card company to help their unbanked employees get on direct deposit. SOLE Financial was recommended as a payroll card provider by their bank, First Citizens.
The Payroll Team: “SOLE Financial has been amazing to work with. They helped us take our Company to 100% direct deposit participation in a matter of months. The transition was smooth and efficient and the customer support team, especially Justin Jenkins, was extremely helpful, responsive and accommodating.”
Sherry Mims – Director of Accounting and Office Administration; Angela Myers – Senior Staff Accountant; Donna Cribb – Retail Payroll Clerk; Jessica Cribb – Junior Accountant
Why It Worked: The SOLE Paycard gave W. Lee Flowers a cost effective way to get their unbanked employees set up with direct deposit. Additionally, the payroll card allows those employees to access their payroll funds without being charged unreasonable check cashing fees.
What’s Next: After successfully implementing the SOLE Paycard program to their unbanked employees their next steps are to implement an online pay stub solution to cut out the cost of printing payroll stubs each week.
Projected annual company savings: $212,284.80
Projected annual employee savings (per employee): $628.00
Projected annual employee savings (all employees): $915,624.00
Total annual savings: $1,127,908.80
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