BIRMINGHAM, Ala., July 14, 2022 (Newswire.com) - OnCentive, the nation's leading tax credit consultancy, announces the launch of an industry-leading Profitability Platform for identifying, calculating, and processing tax credit, recovery programs, and hiring incentives. The Profitability Platform launches with hundreds of payroll provider integrations, multi-level users and reporting, and streamlined submissions processing.
With releases planned to add additional Federal and State Credits in the coming months, OnCentive's profitability software launches with the ability to capture the Work Opportunity Tax Credit (WOTC). WOTC is a federal incentive program that encourages employers to hire employees from targeted groups who historically faced employment barriers, like the long-term unemployed, veterans, felons, or those who receive SNAP or welfare benefits.
"There has always been a common theme in the WOTC consulting world," stated Shannon Scott, OnCentive CEO. "The lack of automation has not only led to less than ideal compliance and credit yield but has also kept WOTC credits very much impossible for smaller employers to take advantage of. This software solution allows us to service clients of all sizes and complexities. I have never seen a tool this exciting in 20 years of leading companies in this industry. Easy setup, easy processing, and easy integrations."
With just a few clicks, OnCentive clients can integrate WOTC into their hiring processes, connect to their payroll, track hires through the certification process and across multiple locations, and build custom reporting within the easy-to-use platform. Additionally, OnCentive's software makes filing simple and efficient by automatically generating accurate end-of-year IRS forms (IRS Form 5884) for clients to provide to their accountant, removing the need to compile on their own or pay their accountant to do so.
Additional benefits for OnCentive clients:
- Simple Signup: Connect payroll, add locations and hiring managers.
- Clear Tracking: View new hires' progress in the WOTC certification process and how much credit they qualify for at any time.
- Increased WOTC Compliance: View incomplete surveys and send applicant alerts within the platform to increase WOTC compliance.
- Payroll Integrations: Integration with 150+ payroll providers. Connect payroll one time and never worry about sending it in again.
- Custom Reporting: Schedule reports on a weekly or monthly basis to be sent to anyone in their organization.
- Process Flexibility: Add our WOTC survey to any Applicant Tracking System or Onboarding system/process.
- Complete Applicant Records: Never lose valuable WOTC applicant information again. Applicants now have the "Save and Continue Later" feature.
- Mobile Friendly: The Employee Survey is fully mobile friendly and new hires can receive text reminders to fill out the applications.
In addition to providing the newest technology with increased visibility and reporting, OnCentive clients benefit from the consultancy's full-service WOTC team, which will continue to handle all applicant outreach, credit certification to the state office, and document management. The credit consultancy continues to expand its WOTC Operations team, which now boasts over 100 combined years of WOTC processing experience.
OnCentive is the nation's leading profitability consulting firm. Leveraging their leadership's 100 years of combined credit expertise and their state-of-the-art custom technology, OnCentive captured $2 billion in government incentives for clients, with $0 returned to the IRS.