Paychex issued the following announcement on Sept. 3.
Paychex, Inc., a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and insurance services, is introducing several new products and services this quarter that will support business owners and HR professionals as they work to optimize business operations, comply with regulations, drive productivity, and maintain financial stability. Paychex is highlighting these new solutions – many of which help streamline payroll processes – in recognition of the American Payroll Association's National Payroll Week.
"We're constantly innovating to meet our customers' evolving business needs, simplify HR complexities, and offer solutions to help them thrive and grow," said Martin Mucci, Paychex president and CEO. "The latest enhancements to our solutions are designed to help solve common HR and payroll challenges as employers and employees find themselves with more to do than ever with less time to get it all done."
Solutions Paychex delivered in the first quarter include:
Paychex® Solo: A packaged offering designed to meet the specific needs of sole proprietors, Paychex Solo combines incorporation services, payroll, and a 401(k) plan into one complete solution so owners can improve their income tax situation, pay themselves a predictable wage while meeting tax obligations, and save for the future. With these services, owners can easily automate FICA tax withholdings on their W-2 wages, rather than having to budget for personal income tax payments – allowing them to initiate an owner-only plan to apply pretax dollars to save for retirement.
Paychex Flex® Payroll Enhancements: When serving 670,000 customers, making payroll entry easy, flexible, and able to meet a wide variety needs is essential. With a newly enhanced grid entry view, Paychex Flex is the only solution on the market to offer multiple pay entry options to choose from within a single platform. Built primarily to meet the needs of power users, but available to all payroll customers, the grid view enables users to input complex payroll information quickly and efficiently using an interface designed specifically for speed.
The grid view offers more flexibility, customization, and visibility into employee pay data both individually and as groups, saving valuable time and allowing the user to work how they'd prefer. For example, users can leverage list and individual views to get a detailed gross-to-net look at individual employees or easily switch to grid view when more complex data entry, such as multiple overrides, is required. Each view works seamlessly with customizable input templates, import feature, and API capabilities. Paychex Flex payroll is mobile-enabled and integrates directly with a variety of time and attendance solutions, including cloud-based Paychex Flex Time and other hardware the company offers.
"Our organization's payroll can be quite complex with many different employee types, including partners, non-equity partners, and hourly and salaried workers," said Christie Kelley, budget and finance coordinator for Murphy Hesse Toomey and Lehane, LLP, a Massachusetts-based law practice. "The payroll grid allows me to build custom layouts that personalizes my pay entry experience and filters that provide an additional level of granularity for viewing only who I need to see when paying a specific set of employees. This allows me to be much more efficient while processing payroll and saves valuable time that I can then spend on other strategic efforts."
Form I-9 and E-Verify: The Immigration Reform and Control Act (IRCA) requires all employers to verify the identity of new employees and their eligibility for U.S. employment. To help businesses comply with this requirement, reduce time spent on verification, and help diminish the risk of costly penalties, Paychex has expanded its employee verification capabilities to enable employers to complete the Form I-9 and E-Verify processes electronically. Employers can integrate this solution with the Paychex Flex paperless onboarding process, helping them save time, increase productivity, and drive higher quality and timely regulatory compliance.
HR Conversations: This new tool in the Paychex performance management module enables managers, employees, and HR staff to collaborate and capture day-to-day interactions. Leaders can digitally document interactions with their people, tracking progress and documenting results that will help support future conversations regarding goals, promotions, terminations, and more.
Document Management: This solution gives users a centralized and secure file repository for company forms, policies, and references, as well as employee documents and certifications. Access is role-based, document-specific, and requires leadership granting proper approvals. This new functionality allows users to manage documents efficiently and digitally, making them easily accessible at any time including in the case of an audit or a natural disaster.
To learn more about these latest Paychex releases, visit the first quarter product page of paychex.com.
Paychex, Inc. (NASDAQ:PAYX) is a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by more than 45 years of industry expertise, Paychex serves approximately 670,000 payroll clients as of May 31, 2019 across more than 100 locations in the U.S. and Europe, and pays one out of every 12 American private sector employees.
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