Challenge: Many of Zions Bank's clients were stretched thin by disconnected HR and payroll systems, with business leaders spending more time managing compliance and reconciling payroll than growing their businesses.
Solution: Zions Bank partners with isolved to connect clients with isolved People Cloud so they can manage payroll, HR, benefits and compliance in one platform alongside their banking relationship.
Impact: Clients save hundreds of hours a year, with one cutting tax-season workload by 50% and another reducing payroll from two days of manual reconciliation to a single submission, and most stay with Zions Bank for five to 10 years.
The Hidden Costs of Managing HR Alone
For many small- and mid-sized businesses (SMBs), HR and payroll are constant pressure points. Without a full-time HR team, responsibilities often land on already stretched leaders like chief finance officers (CFOs) and controllers. Instead of focusing on growth, they’re managing compliance, reconciling payroll across multiple systems and putting out daily fires.
Zions Bank, headquartered in Salt Lake City, Utah, employs nearly 1,200 people and operates 121 full-service branches across Utah, Idaho and Wyoming. From those branches, bankers began hearing the same frustrations.
“We started hearing from clients who were overwhelmed,” said Steve Stacey, senior vice president of corporate treasury management at Zions Bank. “They’d say, ‘I’m spending more time managing systems and compliance than I am growing the business.’”
Hear how Zions Bank helps small businesses move from manual payroll to automated HR and payroll solutions with isolved.
A Partnership Beyond Banking
To help, Zions Bank partnered with isolved in 2008 to offer clients a better way to manage their people and go beyond traditional banking services. Now, the banks’ clients can streamline HR, payroll, benefits and compliance through isolved People Cloud™, a single connected human capital management (HCM) platform.
The partnership has delivered significant results, including:
Clients have saved hundreds of hours each year by consolidating systems.
One client cut their tax-season workload by 50%.
Another reduced payroll processing from two full days of manual reconciliation to a single submission.
isolved’s clients with Zions Bank typically stay five to 10 years, reflecting long-term satisfaction and retention.
“isolved sells itself to our clients,” said Spencer Johnson, C&I treasury management officer at Zions Bank.
Strengthening Client Loyalty and Trust
For Zions Bank, the payoff is just as important. By helping business owners solve back-office challenges, the bank strengthens client loyalty in a competitive market.
“For us, the more services we can have with a client, the stronger the relationship is, the less likely they’re going to leave,” said Stacey.
And for clients, the relationship often deepens too. “If we can show them that there are solutions that they can use that will help them, they may come to ask Zions Bank for help in the future,” Johnson said.
