CoAdvantage issued the following announcement on May 13.

CoAdvantage, a leading national provider of strategic human resource solutions for small to mid-sized companies and one of the nation's largest privately held professional employer organizations (PEO), today announced the launch of CoAdQuantum, a proprietary HR and payroll platform. The new technology provides valuable human resource solutions and improved payroll processing to small and mid-sized clients.

The achievement marks the first standalone HR platform, featuring a built-in payroll processing engine, developed by a privately held PEO. It puts the Company on a shortlist of PEOs that have this capability in the industry.

The new platform seamlessly manages and is inclusive of the ability to process end-to-end payroll (both input and calculations), flexible client invoicing, onboarding, customized reporting, BI analytics, check printing, garnishments, PTO, ACH, tax management, general ledger integration, employee and manager self-service, and full service benefits and ACA administration, all in a completely automated fashion.

With CoAdQuantum, the Company can easily double or triple processing capacity without significant investment and offers greater customization and flexibility to support a wide range of unique clients. Several platform enhancements, including additional capabilities, integrations, and features, will be released in the third and fourth quarter of this year, and once completed, the standalone platform ensures the Company will not be reliant on any third-party systems.

"We are committed to driving innovation in the industry," says Mark Zimmerman, Chief Information Officer at CoAdvantage. "There has never been a more important time to drive efficiency and effectiveness in HR and payroll. Fast-paced change in regulations requires companies to adapt and implement changes quickly. To have the ability to modify our systems without having to rely on third parties allows us to be agile and flexible in our decision making." 

"By leveraging technology, we have created a platform that streamlines client data processing, resulting in operational and strategic efficiencies that align with our growth plans," says Clint Burgess, CoAdvantage's President and Chief Executive Officer. "Owning a system with increased payroll efficiency for businesses of all sizes, along with the flexibility to customize and provide in house support, is a tremendous advantage for our clients and further differentiates CoAdvantage in the marketplace."

The Company continues the expansion of its national footprint with the recent opening of two new offices in Charlotte, North Carolina and Phoenix, Arizona, while also actively exploring acquisition opportunities. In the last three years, CoAdvantage has acquired several PEOs.

About CoAdvantage

CoAdvantage is a leading Professional Employer Organization (PEO) that offers small and mid-sized businesses a comprehensive package of human resource solutions, enabling them to reduce their administrative burden and gain access to affordable employee benefits. The Company integrates payroll and tax processing, employee benefit plan administration, risk management, government compliance, and other human resources services into a single vendor solution that is exceptionally efficient and effective. To learn more, visit www.coadvantage.com.

Original source can be found here.