Posted by
Viventium
| September 20, 2019
Payroll and HR often come with headaches. Of course, minimizing such pains is a major reason why companies partner with payroll and HCM software providers. But what happens when your vendor gives you the biggest headache of all? Over 4,000 businesses recently found out the answer. They woke up to a monster migraine when they discovered that MyPayrollHR, a New York-based provider they had trusted to pay their people, seemingly vanished with nearly $35 million in payroll funds. Not only did money disappear from MyPayrollHR’s client accounts, but so did direct deposit payments belonging to tens of thousands of their employees! MyPayrollHR apparently then immediately shut down operations, notifying clients with a brief email that stated: “We regret to inform you that due to unforeseen circumstances, we are no longer able to process any further transactions. Please find alternative methods for processing your payrolls.” (You can read a fuller account of the fiasco
here.) Translation: While the drama about MyPayrollHR continues to unfold, one thing is already certain: Their clients, which are now scrambling in a chaotic state of limbo to figure out what to do next, have a bad taste in their mouth regarding their payroll processing. Small businesses in particular, as well as many people who live paycheck to paycheck, are now wondering how to emerge from this catastrophe. As one impacted business owner told
CBS News, “We want our money back.” This unfortunate event highlights the importance of having appropriate security controls in place.
This information is for educational purposes only, and not to provide specific legal advice. This may not reflect the most recent developments in the law and may not be applicable to a particular situation or jurisdiction.
Free Implementation
So now what? At Viventium, we feel terribly for those impacted by this mess. And we want to help restore their confidence in payroll processing firms. Therefore, we are offering free implementation of Viventium software to all former clients of MyPayrollHR until March 31, 2020. If you’ve been hit by this scandal, we want you to know that we’ve got your back, we care about your success, and we take seriously our commitment to security and integrity. We know we can’t solve all of your problems that resulted from the collapse of your former vendor, but we hope that we can at least ensure one less headache so that you’re able to pay your people going forward. If you’re a former MyPayrollHR client, let’s talk about getting you back on your feet. We’re here for you, and we’ve got you covered.This information is for educational purposes only, and not to provide specific legal advice. This may not reflect the most recent developments in the law and may not be applicable to a particular situation or jurisdiction.