Patriot Software is a cloud-based payroll and accounting platform that helps businesses streamline various administrative functions. It centralizes essential information, allowing employers to easily access employee data and make analytical decisions while ensuring accuracy and precision. Its powerful financial management functionalities make it a reliable platform for many companies across the globe.
However, it cannot streamline payroll and accounting without developing strategic collaboration with banks worldwide. That said, let's dive into the details of the banks that Patriot Software integrates with and offers organizations seamless payroll management.
The software offers a direct deposit payroll service for its customers to ensure a seamless payment process. Companies can leverage Patriot Payroll’s 2-day and 4-day direct deposit payroll and easily pay their employees and contractors. In addition, Patriot Software has a simple application process that helps users set up the payment process and ensure error-free results.
The platform also offers flexible funding options for the workforce, including prefunding, Automated Clearing House (ACH) timing, and bank wire transfers. Patriot Accounting has an end-to-end paperless direct deposit onboarding process that greatly reduces manual effort and improves work efficiency.
Patriot Software announced a partnership with Signature Bank of Georgia in 2019. The purpose of this collaboration was to enable companies to easily access the platform’s ‘Full-Service Payroll’ tools while ensuring qualifying bank deposits with the relevant banks. This collaboration especially benefits small businesses with its reduced payroll costs, which are often a significant expense for small companies.
Moreover, Signature Bank's advanced tools, including online calculators, help employers estimate revenue based on deposit account balances.
Patriot uses Plaid Inc., a third-party financial service, to streamline bank account verification. This helps ensure that the bank accounts used for direct deposit and payroll are valid. Plaid offers global services and is trusted by renowned financial institutions worldwide. It provides efficient account verification services without storing sensitive user data in its database.
Plaid also offers manual verification based on small test deposits and withdrawals for businesses that cannot use instant verification.
Patriot Software is always on the lookout to establish new strategic partnerships within the fintech landscape. This is because it processes billions in payroll annually through its powerful direct deposit functionality and looks for other platforms that are in line with its innovative strategies for payroll and accounting services. These partnerships serve to scale Patriot Software’s financial operations while ensuring proficient customer service.
Patriot Software collaborates with the Signature Bank of Georgia to help small companies access efficient payroll services at an affordable cost. Its seamless connection with Plaid allows secure financial operations, upholds data privacy, and ensures compliance. Collectively, it improves work efficiency and increases precision.