Innovation

Good Health and Well-being: As a company, Payroc believes in giving back to the community by supporting various causes, including Boys & Girls Clubs of America, Habitat for Humanity, Junior Achievement, SickKids, Mackenzie Health Foundation, Restoration Ministries, The Princess Margaret Cancer Foundation, UHN, and Reclaim13. Supporting 501(c) (3) nonprofit organizations, Payroc is paving the way to build a brighter future for children and people in distress by giving back to these organizations both monetarily and voluntarily. 

Regarding Decent Work and Economic Growth, the company continues to see positive year-over-year income growth, which provides career opportunities for the 1,100-member global operations team. This financially supports the company and offers jobs, which in today's job market is crucial. In today's job market, finding jobs has been very difficult. Working from home allows employees across the city, state, and country to maintain their jobs without relocating or finding new opportunities. With Payroc's expansion into different countries, the company can support an inclusive work environment with people from diverse backgrounds and put Payroc on the map!

In efforts to maintain sustainable cities & communities, the Des Plaines location had an 18,000-square-foot facility when COVID-19 hit. After being remote for about a year, the executive team decided to sub-lease 14,000 square feet and keep their operations and finance teams fully remote. They have a small deployment team that has continued to work at the Des Plaines office daily to ensure all equipment needed to process through them is deployed. Being able to work from home reduces Payroc's carbon footprint and helps expand the business by offering jobs across the globe that allow employees to work remotely. 

Inspiration

Gina Loffredi has seen these innovations implemented at Payroc from the beginning. Because she has been with the company since the beginning, she has seen it grow and evolve into what it is today. With these implementations, Payroc has been able to remain in high standing, grow financially and globally, and support the overall well-being of the world. 

When speaking with Gina Loffedi, Vice President of Finance and Sales, she stated how she has worked her way up at the company. Being that she started with a startup company in 2002, Integrity Payment Systems, acquired by Payroc in 2018, she was able to work her way up the leadership chain from implementing the merchant boarding and underwriting department, including processes and procedures, to moving into finance to take on agent boarding and streamline that process, to becoming Vice President of Sales Finance. In this role, she has a team of 9 people who manage all of Payroc’s downline commission and residual payments to 1099 and W-2 sales agents. Gina was asked, “What makes you a good leader?” Loffredi replied with “understanding strengths and weaknesses of team members”, “set team members up for success”, and “let team know you have your back”. 

Overall impact

Being a global company, Payroc has offices around the United States, Canada, Puerto Rico, the UK, Ireland, and, most recently, Israel. Most of the IT staff are based in the UK and Ireland and are fully remote. They get together about every 6 months for an IT development tournament to bring the IT team together. They hold quarterly company-wide Team meetings that the executive staff put together to provide the company with a forecast of what is to come, where they have been, and financial updates. 

This is an attribute of Payrocs' innovations in support of the SDGs. Expanding the company in these different countries has allowed Payroc to put its SDGs to the test. With this, they have clearly supported two main SDGs: decent work and economic growth, and sustainable cities & communities. The company has incorporated different cultural values and norms in its company culture by expanding and having employees from various background,s while incorporating remote jobs. 

Business benefit

With Payroc’s innovations and global outlook, it continues to generate revenue, hire employees, and expand globally. The company has fully integrated payments into its software and has received investment from a private equity firm. Payroc is an innovative company in sustainability and remote work, which has contributed to its becoming more cost-effective. The company reduced overhead costs by sub-leasing a significant portion of its Des Plaines office space and adopting a hybrid and remote work format, while maintaining a high level of productivity. This lets Payroc attract the best talent internationally, retain passionate, dedicated workers, and reinvest the savings to fund new ventures, such as improved technology, innovations, and projects. This not only makes Payroc a more efficient company, but also a future-focused one. 

So, what good things have happened from this? The company is providing jobs for people across the globe, with minimal layoffs amid accusations, and increased job security. They are introducing different payment options in various regions around the world. They have integrated payment services being rolled out across the globe for people who need help with payments, which is crucial in both developed and developing countries, by offering multiple payment options. 

Social and environmental benefit

Specific to society, one of the ways Payroc strives is by giving back. As mentioned, Payroc supports various causes, including Boys & Girls Clubs of America, Habitat for Humanity, Junior Achievement, SickKids, Mackenzie Health Foundation, Restoration Ministries, The Princess Margaret Cancer Foundation, UHN, and Reclaim13. These organizations, which are nonprofits, strive to raise donations from organizations like Payroc by helping keep them up and running for generations to come. 

Interview

Gina Loffredi, Vice President of Finance, Sales