As a fractional CFO, Michael Silverman knows what it takes to solve problems for companies. The name of his business – CFO Solutions of Wisconsin – clearly states that.
In his role, Silverman guides small to mid-sized organizations with their financial services – those that need assistance with daily accounting and the financials of their business, and helps resolve any day-to-day challenges.
Among his clients is Air Flow, Inc., a heating, ventilating, and air conditioning (HVAC) manufacturer’s representative in Milwaukee. When Air Flow’s payroll provider lost the ability to ACH direct deposits to employees on short notice, Silverman looked to another solutions-oriented payroll firm that he knew could step in seamlessly.
“At that time, Air Flow was working with a payroll provider using the same platform that we have with IPS,” Silverman recalls. “So, when that firm lost their Automated Clearinghouse (ACH) Line, Air Flow could not direct deposit employee checks. That was a deal breaker for me. Handing out physical checks to Air Flow employees was not an option. In four days, we moved on with IPS. From the time that I reached out to John and Pete, they had payroll accomplished in less than two weeks.”
Silverman met John Feaman at a 401k presentation nearly ten years ago and says IPS has been his “go-to payroll firm” ever since. In fact, he won’t recommend anyone else. He says eighty-percent of his clients partner with IPS.
“I was working with a client to move them out of a Professional Employer Organization (PEO) relationship and get payroll set up within three weeks,” Silverman says. “I contacted John and found them amicable to doing whatever it took to get it done. The company was up and running in less than three weeks. In the first payroll post sale of that business, there were no problems and no issues.
“Another client of mine uses a different payroll platform. There are 15 employees on the payroll and the internal person will spend one hour and 20 minutes where the IPS process would take me about seven minutes. You can see the math on the back end. It’s a straightforward process and easy to work with.”