New Study Further Demonstrates Value of Paycom’s Beti Payroll Solution
19 1월 2024 - 6:05AM
Business Wire
Paycom Software, Inc. (NYSE:PAYC) (“Paycom”), a leading
provider of comprehensive, cloud-based human capital management
software, announced findings by Nucleus Research on the value
organizations derive from the use of Paycom’s Beti®, an
industry-first payroll experience that empowers employees to do
their own payroll. On average, interviewed organizations were able
to reduce payroll corrections by more than 80% upon implementation
of the feature, with some able to eliminate errors entirely.
The commissioned study also found three typical benefit areas
stemming from Paycom’s single HR software featuring Beti, including
reduced errors, increased payroll productivity and improved
employee engagement.
A leader within the restaurant industry told Nucleus the
automation from Beti took days off payroll processing time.
“Employee check errors went down, so employee engagement went up,”
the customer said. “It was a game changer.”
The Nucleus study found that organizations using Beti
experienced up to 100% of their end-users engaging with the system
regularly.
“Beti is a paradigm shift for the payroll industry, and the
value of perfect payroll is showing tremendous ROI for our
clients,” said Chad Richison, founder, chairman and CEO of
Paycom.
Nucleus discovered that, on average, payroll administrators
previously using unautomated systems spent eight hours per 100
employees reconciling errors each pay period. With Paycom’s payroll
solution, clients reduced time spent processing payroll by upward
of 90%.
“If a time sheet needs to be updated after payroll starts, Beti
allows the new information to flow over instead of stopping payroll
to refresh,” said a customer in the health care industry. “I love
this feature because it allows the payroll staff to work on other
items for payroll.”
Paycom commissioned the Nucleus study in December 2023 to assess
the value driven by the use of Beti with Paycom’s existing payroll
capabilities. More information on the study can be found here.
About Paycom
For 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®, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240118981974/en/
Jason Bodin media@paycomonline.com
Paycom Software (NYSE:PAYC)
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