Staying abreast of ever-changing employment and HR regulations and HR functions proved painful and overwhelming.
Outsourcing HR to TriNet helps give Immertec peace of mind and fuels their growth with access to risk mitigation, premium benefits, compliance guidance and technology.
For hundreds of years, the approach to training surgeons hasn’t changed much. In a crowded operating room, dozens of physicians travel great distances for the opportunity to peer over their colleagues’ shoulders to learn a procedure demonstrated by an expert surgeon. This method works, but Immertec CEO and co-founder Erik Maltais had a vision to redefine the status quo “operating room theater” approach—a risk that he deemed worth potential failure.
To execute his vision, Erik’s team determined that augmented and virtual reality (AR/VR) were the next revolutionary computing medium and could allow adoption of medical advancements to happen much faster than before. Immertec’s technology, Medoptic, allows surgeons to observe a surgery in a fully immersive, 3-D environment from any remote location via a VR headset—all in real time. They can now stay abreast of best practices, and have a clearer view of the surgical site and human anatomy without physically being in the OR.
Immertec’s premier customers are some of the largest medical device manufacturers in the world who highly value the Medoptic technology to efficiently train surgeons with their new devices and procedures. Without the complexities of physical barriers, physicians can efficiently adopt new medical techniques and in return, quickly bring these practices to patients to improve the quality of healthcare. Medical device manufacturers no longer have to wait nearly 10 years to bring their products to market nor expend their budgets to physically transport surgeons to an OR for training. By overcoming inefficiencies with traditional training, Immertec helps surgeons and medical manufacturers save time and money and revolutionize healthcare.
For Erik, risk-taking is necessary to be a successful entrepreneur. This enabled him to develop a game-changing solution for surgical education. But in order to build an enterprise, he was never willing to roll the dice on employment regulation compliance. Juggling the myriad of HR functions was “too much and overwhelming,” said Erik. “I immediately knew that I’m not good enough.” Erik prides himself on acknowledging and executing on his strengths and leveraging experts to help handle areas that aren’t his forte, such as HR. “I think startup success is amplified when you find the best resources like TriNet to complement your own skills,” said Erik.
When the business launched, Immertec had three employees and handled payroll through an online accounting software. At the time, the small team felt HR tasks were peripheral. Once their technology was validated in clinical use with customers, Erik sought a more robust HR solution to help handle the influx of headcount needed to build the Immertec brand. “We looked at a few [HR] solutions but ultimately our decision was made because someone I trusted very much said ‘hey, you need to use TriNet’,” said Erik.
As a result of the COVID-19 pandemic, Immertec plans to more than double their team in order to deliver on the significant increase in new contracts with manufacturers who now rely on their technology. Erik knows that when he takes care of his employees, they’ll take care of the business, and with TriNet, he can offer access to comprehensive benefits packages that are no longer reserved for large companies. “TriNet puts us at a different caliber of startup,” said Erik. Immertec now has the strategic HR and technology platform to elevate their team and processes for the next growth stage. TriNet technology helps Controller Arman Houssain process payroll, implement policies, manage leave requests and perform other HR functions under a single HR platform. The Immertec team also uses the streamlined expense management solution to automate the expense reporting process and eliminate the aggravation of managing paper expense reports.
Arman uses TriNet’s easy-to-use yet powerful reporting and analytics tool, Workforce Analytics, to make educated, strategic business decisions based on Immertec’s own business data. The tool integrates with the TriNet platform and provides in-depth workforce data that he uses for accurate reporting and forecasting. Arman accesses the Cost Center Expense report to see a departmental breakdown of their employees’ wages, benefits cost, taxes and other data points so he can gain important insights into their HR, payroll and benefits spending. To assist with their Paycheck Protection Program (PPP) loan forgiveness process, Workforce Analytics also includes pre-built reports that provide covered payroll costs based on Immertec’s selected date range. “TriNet has helped us by allowing us to see all of our costs in regard to our employees,” said Arman. “It’s basically as if we had a full HR team.”
At the heart of this award-winning startup is their dedication to their culture and team of tech pioneers who are passionate about revolutionizing the future of medical training. TriNet is proud to help ease their compliance and HR responsibilities so they can continue their commitment to facilitating physician access to advancements in medical device technology regardless of location.