Payroll Point from Symmetry Software Saves Samsung Electronics $50,000 Annually

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Geo-coding Technology Decreases Payroll Amendments for Retailer Powerhouse

Eliminating errors in this area reduces the costs for penalties or filing amended returns, while making happier employees when they file their year-end tax return

Stress abounds when it comes to taxes. Many enterprise companies find themselves conjuring multiple what if scenarios when the inevitable looms in the distance. For Samsung Electronics, a huge retailer and manufacturer spread across the United States, Symmetry Software squashed those concerns with Payroll Point. For Symmetry, Samsung became another notch in a long list of successful case studies.

“Samsung wanted to improve the precision and accuracy of their local tax withholding settings,” said Frank Tresnak, Symmetry Software’s Business Development Director. “Eliminating errors in this area reduces the costs for penalties or filing amended returns, while making happier employees when they file their year-end tax returns.”

Besides wanting to increase accuracy, Samsung wanted to reduce the time it took for payroll managers to perform their duties. Without Symmetry's product, employers spent excess time researching state and local tax law. Payroll Point jumped out to Samsung because of its geo-coding aspect that allows users to pinpoint the exact latitude and longitude of an address – a process that is a simple click away. Integrated with services such as Melissa Data, Payroll Point provides a guaranteed answer.

Now when working on taxes, Samsung’s payroll department can easily enter an address of the employee and the correct state and local taxes automatically appear. If something isn’t entered correctly, the system alerts the user to the issue and rectifies it. In states with complicated local taxes, the program has become an even more beneficial resource.

“Payroll Point is a vital product to Samsung Electronics,” said Kenneth Kilmik, a payroll manager with the company.

Since adopting the product in 2010, Samsung has saved $50,000 each year due to the decrease in tax penalties. New hires are taxed properly from day one, and bear a more positive experience. For payroll managers, tax withholding becomes a less trying undertaking altogether. More information and case studies can be located on Symmetry Software's website.


About Symmetry Software

Symmetry Software simplifies the payroll process with accurate and dependable payroll withholding tax solutions. From Payroll Point®, the local tax identifier, and Symmetry Payroll Forms™, electronic withholding forms, to the Symmetry Tax Engine® and PaycheckCity® Calculators, Symmetry Software’s products give you the right taxes, the first time®.

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Corie Stark
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