BankingOn
How BankingON saved $40K and Increased Employer Contributions by 45% with PEO 360
BankingON is an Austin, TX based mobile banking software company that designs apps for credit unions and community banks. BankingON was using Gusto to supply their benefits and didn’t feel like the solution was providing the value or support they needed for the price point.

Overview

BankingON is an Austin, TX based mobile banking software company that designs apps for credit unions and community banks. BankingON was using Gusto to supply their benefits and didn’t feel like the solution was providing the value or support they needed for the price point. BankingON was ready to make a change and needed support evaluating their alternative options, including the PEO model.

Goals

BankingON was interested in exploring the PEO model, and needed support and guidance to confidently understand and explore all of their options. Their goal was to improve employee benefits and dependent coverage while reducing costs. They know a strong benefits package is critical to building a strong culture and foundation for their growing company.
“Jeff and his team did an awesome job of giving us a breakdown of the differences between each PEO. They were really good at helping me find information and connecting me with the right people. We felt very supported through the process, which made it easier.”
Rachel Henley

Solution

Rachel engaged PEO 360 and Auxo HR to audit their HR practices and help evaluate PEOs. PEO 360 captured BankingON's needs and presented several quotes tailored to address their business goals. They evaluated several PEO options including Rippling, TriNet, and ADP, and in the end chose JustWorks. The detailed analysis allowed Rachel to easily compare the top two options and make an informed recommendation to her leadership team. Regarding their experience, Rachel said, “They really cared about our needs. They weren’t just trying to push or sell a feature or a company, but they were really listening to where we were at, where we were headed, what our needs were, and helping me match what the best fit would be.”

Results

With PEO 360's help, BankingON transitioned to a PEO for the first time, saving $40K in total HR costs. They reinvested these savings into employee benefits, increasing their employer contributions for dependent coverage from 40% to 85%. In summary, by engaging PEO 360 and moving to a PEO, BankingON was able to confidently evaluate their options, score major savings and reinvest in their workforce, In addition to cost savings, PEO 360’s expertise and support saved Rachel time and energy, ultimately allowing her team to maintain focus on their core business.

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“Jeff and his team did an awesome job of giving us a breakdown of the differences between each PEO. They were really good at helping me find information and connecting me with the right people. We felt very supported through the process, which made it easier.”
Rachel Henley