Paycom Releases DDX Update Based on Latest EY Findings
08 Setembro 2021 - 5:05PM
Business Wire
Paycom Software, Inc., (NYSE:PAYC), a leading provider of
comprehensive, cloud-based human capital management software,
announced updated cost estimates of data entry and HR tasks to its
usage management analytics tool, Direct Data Exchange® (DDX™),
based on the latest findings by professional services firm Ernst
& Young (EY). EY found the average cost of a single manual data
entry made by an HR professional increased from an average of $4.51
to $4.70.
“Implementing an employee usage strategy tied to the analytics
generated by DDX helps businesses achieve maximum ROI from their HR
technology through real-time monitoring and tracking of usage
trends,” said Chad Richison, Paycom’s founder and CEO.
An award-winning HR product launched in 2019, DDX is a
comprehensive management analytics tool that gives employers
insights into efficiencies gained through employee usage of HR
technology and provides a real-time estimated return on investment
for that usage based on EY’s research, which is reflected in
Paycom’s industry-first product.
“DDX sheds light in real time to areas where an organization’s
system could be utilized more efficiently and fully,” said Steve
Boese, HR Technology Conference program chair and co-host of the HR
Happy Hour podcast. “It’s a really powerful tool for HR folks and
also provides them an opportunity to engage with employees.”
When Paycom released DDX in early 2019, in-system ROI
calculations were based on a late 2018 EY study. EY updated its
calculations by applying inflation factors to survey data,
resulting in an uptick in the cost of manual data entry.
While the new average is $4.70, EY also concluded that the cost
per data entry of each task varies and can reach as much as $19.77.
Additionally, according to EY’s annual research, the cost per HR
task has continued to increase across every category of HR data —
such as expense management, personal information and more — since
the original survey launched in 2018. Paycom’s DDX automatically
calculates these costs for clients so they can, in turn, drive
employee usage of Paycom’s Employee Self-Service® technology.
With the launch of DDX, Paycom became the first in the human
capital management industry to provide a tool that assists
employers in determining what appropriate employee usage of HR
technology looks like and how to measure it. DDX allows Paycom’s
clients to estimate ROI to encourage employee usage of Paycom
technology at their companies.
About Paycom
As a leader in payroll and HR technology, Oklahoma City-based
Paycom redefines the human capital management industry by allowing
companies to effectively navigate a rapidly changing business
environment. Its cloud-based software solution is based on a core
system of record maintained in a single database for all human
capital management functions, providing the functionality that
businesses need to manage the complete employment life cycle, from
recruitment to retirement. Paycom has the ability to serve
businesses of all sizes and in every industry. As one of the
leading human capital management providers, Paycom serves clients
in all 50 states from offices across the country.
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version on businesswire.com: https://www.businesswire.com/news/home/20210908006040/en/
Jason Bodin 1-800-580-4505 media@paycom.com
Paycom Software (NYSE:PAYC)
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