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How Pennywise Halved Their Payroll Processing Time

March 5, 2022
4 Min Read
How Pennywise Halved Their Payroll Processing Time

Pennywise is a family-owned pawnbroker, second-hand goods, and small loans provider established in 1994. Originally founded in Ipswich, Queensland, Pennywise has grown to service a range of communities across the state, including Goodna, Browns Plains, Beenleigh, Hervey Bay and Toowoomba. Pennywise was founded by Don and Julie Moore, the original owners of the flagship store in Ipswich, and is currently managed by their son Brendon.

Before foundU, Pennywise were using workforce management software that required them to manually export and manipulate data in spreadsheets before manually re-entering it into their accounting platform. They realised they needed a more efficient system that would reduce their payroll processing time.

Amanda Balzer, Pennywise’s General Manager, reports that the efficiencies within the foundU platform has helped Pennywise reduce their payroll processing time to just two hours each week.

 
Manual, three-step payroll process

On any given month, Pennywise manages a payroll of 55 staff across its head office and six retail stores.

Before implementing the foundU platform, Pennywise used workforce management and award compliance software to roster staff. While rostering was simple, processing payroll required them to export and manipulate data in spreadsheets, and then re-enter that data manually into a separate accounting platform.

"It was quite a segregated process that would often take two of us half a day to manage," Amanda said.

 
Realising the benefits of the platform

Frustrated with the efficiency of payroll processing, Pennywise were drawn to foundU after realising its benefits.

“Our director knew somebody who was using the foundU platform, so we went in for a meeting and we were really impressed with the pitch foundU gave,” Amanda said.

“From there, we were paired with our own implementation consultant, who was incredibly supportive throughout the entire process – nothing was too much work.

“Once we started to see the rollout and got access to the training platform that allowed us to test and see how it would work, you could really see the benefits.”

 

Cutting payroll processing time in half

Since Pennywise implemented foundU, Amanda estimates they have reduced their payroll processing time to just two hours each week.

“The efficiencies around the processing of payroll – like I said, it used to take two of us half a day or more each week to manage payroll,” Amanda said.

“Now on a good day, I can log in and have it done myself in two hours. It’s that efficient.”

Pennywise also enjoy the seamless employee onboarding experience that the foundU platform provides.

“Back a few years for a different company, I remember getting an employee’s details and payroll information on paper, and then manually entering them into the computer, hoping you didn’t enter a number incorrectly or forget something,” Amanda said.

“Now the onus is back on staff to enter those details correctly, which saves us a lot of time on admin.”

Pennywise are enjoying the all-in-one power of the foundU platform and appreciate the team’s commitment to enhancing the platform for customers.

“The fact that the foundU team have the willingness to improve the platform and always make it better is great.”

"Plus, it's so seamless and easy to operate. Everything is just there."

 

Want to know more about foundU? Book a Demo.

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