Paychex
Overview, Comparison, & Features
Overview, Comparison, & Features
Paychex, Inc. is an American provider of human resource management system (HRMS), payroll, and benefits outsourcing services for small and medium-sized businesses. Paychex technology and service solutions have simplified the complexity of running a hr operations in business. You can use it to handle your HR, payroll, and benefits on a single platform. And it is backed by U.S. based support through chat or over the phone whenever you have a query, 24X7/365.
Key Modules:
First lets understand what to expect from this software in a general overview.
Features:
Payroll and taxes
Small and large business payroll
Taxation
Online payroll management
HR services
Time and attendance
Analytics and reporting
PEO
COBRA administration
Applicant tracking
Online hiring
SUI and safety programs
Employee benefit and insurance services
Retirement plan management
Group health insurance
Expense management
Background checks
Employee screening
Payment processing
Services:
Payroll Services
Time & Attendance
HR Services
Employee Benefits Services
Business Insurance Solutions
Payment Processing Solutions
Pros & Cons:
Pros:
- Time saving
- Cost savings - Every pay period you must calculate wages; print, sign, and distribute checks; create reports; and prepare and pay payroll taxes.
- Improved security - Most payroll providers offer secure systems for sensitive employee and company data. They employ redundant backup systems, multiple server locations, and the latest technology to protect client data.
- Regulatory compliance
Cons:
Difficulty obtaining wage and employee data — Depending on your payroll service provider, you may encounter hurdles in accessing payroll figures and other employee data because the information resides on another company's server.
Delayed corrections to payroll errors — If mistakes occur, a payroll firm may not respond as quickly as you or your employees wish.
Why choose Paychex?
Paychex is an all-in-one payroll, HR, and benefits platform that integrates each and every aspect of your business to make them easier to manage.