IT Infrastructure Company Improves Their VOE/VOI Process Through Outsourced Automation

Client Background

A major IT infrastructure company with over 2,200 employees, ePlus Technology was utilizing
in-house HR staff to respond to requests for verifications of employment and income (VOIEs). Requests were managed by three people in Payroll. The organization was growing rapidly, and could no longer keep up with the volume of requests, which took considerable time and staffing resources for the HR and Payroll departments.

Problem

The company researched VOIE providers in the US, finding a few large major players. However, most verification providers took a “cookie-cutter” approach and were not interested in customizing compensation categories and reports. If they outsourced to these vendors, HR would need to continue to staff inbound calls with clarification requests from both commercial and government verifiers. Additionally, there was concern that many vendors would use a file-feed integration, extracting all employee data from the HRIS every pay period, whether or not it was needed to perform the service. Maintaining the file feed would require ongoing oversight from both HR and IT, since any changes to the compensation structure within the HRIS system could break the file-feed, causing further resource demands. And why did the VOIE vendor demand all that sensitive employee data, to be stored off-site? If the vendor experieiced a data breach, it could impact their employees.

Solution

In October, 2020, ePlus selected Vault Verify as their solution provider. Vault Verify’s real-time API technology streamlined the verification process and eliminated the need for constant manual intervention. Vault was willing to customize compensation categories and provided full Employer Portal visibility to the process. Vault Verify also distinguished itself by prioritizing data security, refusing to re-sell employee data beyond its intended employee-requested purpose. Data monetization is a standard practice among larger vendors, since many are also data brokers. This commitment to security and efficiency solidified Vault Verify as the ideal partner for ePlus.

Results

Since ePlus Technology’s go-live in 2020, Vault Verify operations:

• Completed 2,554 total verifications for the client
• Saved the client approximately $38,310 in internal labor costs (based on $15 per verification)
• Avoided 639 hours of internal administrative labor. Staff was able to focus on other HR and payroll projects, due to the greatly reduced workload.
• Prevented the third-party storage of employee data due to its ‘no-storage’ approach to VOIE reports

From the first days of the program, ePlus enjoyed instant ROI! At Vault Verify, implementation and ongoing service are always 100% free to the employer, and the time and labor savings are real.

For over 4 years, the VOIE service has exceeded the client’s expectations and the HR department has indicated that they would recommend Vault Verify services to friends and colleagues.

(Results are from go-live date of 10/5/2020 through 12/31/2024)