New Study Demonstrates Benefits of Allowing Employees to Do Their Own Payroll With Paycom
13 Junho 2023 - 10:15AM
Business Wire
Paycom’s Beti reduces labor to process payroll
by 90%
Paycom Software Inc. (NYSE: PAYC), a leading provider of
comprehensive, cloud-based human capital management software,
revealed findings by Forrester Consulting on the significant
potential efficiencies and benefits organizations can gain through
Paycom and its payroll technology, Beti®, an industry-first payroll
solution that empowers employees to do their own payroll. By
consolidating and removing legacy HR systems in favor of Paycom, a
composite organization representative of interviewed Paycom
customers saved $2.3 million over three years.
The commissioned study also revealed that over three years, the
composite company using Paycom’s single HR software featuring
Beti:
- reduced time spent correcting payroll errors by 85%
- reduced labor for payroll processing by 90%
- saved their HR and accounting teams over 2,600 hours per
year
- gained benefits worth nearly $3.8 million over three years
- received nearly $300,000 in value from customer services
“With Paycom and Beti, we are using payroll to engage employees
in their pay and benefits,” a vice president in the customer
service industry told Forrester in the study. “I have never seen
payroll used as an employee engagement tool, so to me, it is
incredible.”
The Forrester Consulting Total Economic Impact™ (TEI) study
calculated Paycom’s three-year benefit at $3,775,365 for a
composite business with 2,500 employees, 70 U.S.-based locations
and multiple pay structures. This figure accounts for savings
through reduced data compilation and errors, improved HR and
accounting efficiency, reduced reliance on external vendors, and
the value of Paycom’s customer service.
“Beti is changing the payroll industry,” said Chad Richison,
founder, chairman and CEO of Paycom. “Empowering employees to
control their own data provides a high level of value for
organizations, and this study demonstrates it across multiple
organizations.”
For its research, Forrester conducted interviews with Paycom
clients, who cited productivity gains and better employee
experiences after consolidating their legacy HR and payroll
functionality with Paycom.
The interviewees expressed additional workplace benefits from
using the software, including:
- improved employee engagement and retention
- improved employee trust
- efficiency gains for payroll, accounting and HR that allowed
teams to operate more strategically
- improved culture and organizational knowledge about benefits,
pay and best practices
Paycom commissioned the Forrester TEI study in spring 2023 to
demonstrate the potential financial impact of Paycom and Beti on
organizations. More information on the TEI study can be found
here.
About Paycom
For nearly 25 years, Paycom Software, Inc. (NYSE:PAYC) has
simplified businesses and the lives of their employees through
easy-to-use HR and payroll technology to empower transparency
through direct access to their data. And thanks to its
industry-first solution, Beti®, U.S. employees now do their own
payroll and are guided to find and fix costly errors before payroll
submission. From onboarding and benefits enrollment to talent
management and more, Paycom’s software streamlines processes,
drives efficiencies and gives employees power over their own HR
information, all in a single app. Recognized nationally for its
technology and workplace culture, Paycom can now serve businesses
of all sizes in the U.S. and internationally.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230613039048/en/
Larisha Hunter 1-800-580-4505 media@paycom.com
Paycom Software (NYSE:PAYC)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Paycom Software (NYSE:PAYC)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024