New products built to drive personalization for employers and employees
ROCHESTER, N.Y., Sept. 25, 2019 /PRNewswire/ -- Paychex, Inc., a leading provider of integrated human capital management solutions for HR, payroll, benefits, and insurance services, will introduce five new solutions at the 2019 HR Technology Conference & Exposition®, taking place in Las Vegas, October 1-4. Included among them are a wearable solution for tracking time worked, real-time payments, pay-on-demand, the next generation of its Paychex Flex® intelligence engine, and an integration partner network.
"The future of HR will be about personalizing the work experience for individuals," said Tom Hammond, Paychex vice president of corporate strategy and product management. "In today's fast-paced environment, HR professionals are doing everything they can to drive productivity, contribute to company strategy, and engage employees who are both self-sufficient and afforded the flexibility they need to be successful.
"Employers need to be investing in technologies today that will meet the evolving needs of employees – from how and when they want to be paid to where they physically do their jobs and what solutions and tools augment their work," Hammond continued. "We are thrilled to be at the industry's leading technology-focused tradeshow to showcase our latest solutions, which we feel position Paychex customers for future growth and enable them to better compete in a historically tight labor market."
- Smartwatch Solution: Paychex Flex Time users can now track time worked via their smartwatch, the first in a growing list of use cases that Paychex will be making available to Paychex Flex users in the future. Current functionality includes clocking in and out for a shift, break, and meals with a simple tap of the smartwatch. With users' permission to use location services (GPS), employers can also deploy geofencing capabilities, making the time and attendance tracking process easier for an increasingly remote workforce and reducing the chance of time fraud.
- Real-Time Payments: With 3-in-4 Americans living paycheck to paycheck, advancements in technology and financial regulations have opened the door to giving employees access to earned wages how and when they need them. In early 2020, Paychex customers will have the ability to deposit earned wages directly into employees' bank accounts immediately through a real-time payment network rail. The first HR technology partner to bring a real-time payments solution to market, Paychex continues to demonstrate its commitment to offering 670,000 payroll customers the flexibility they need when paying employees. For example, Paychex released same-day ACH credits in 2016 on the first day such functionality was made possible by NACHA, the Electronic Payments Association.
- Pay-on-Demand: Slightly before the arrival of real-time payments, by the end of 2019, Paychex customers can grant access to earned wages before a scheduled pay day thanks to a new pay-on-demand solution. For customers who leverage this product, employees can request access to a portion of earned pay before the scheduled pay date and, with employer approval, funds will be deposited into – and accessible from – a third-party account rather than directly into a traditional bank account.
- Paychex Flex Intelligence Engine: Millions of monthly Paychex Flex users, 48 years of data, and several hundred thousand tracked interactions between customers and Paychex service professionals are powering continued innovation at Paychex. The latest in a string of enhancements to drive a personalized, efficient, and simplified user experience, Paychex Flex Assistant, the company's customer service chatbot, has entered its next phase of development. Users who need help completing a task within Paychex Flex can rely on Flex Assistant – and the intelligence behind it – to quickly and easily discover the answer. A user's in-app learning journey aligns with their preferences as a verbal, visual, or physical learner, as well, offering written how-to documents, tutorial-style video vignettes, or a guided interactive tour from in-app step-by-step messaging. A live Paychex agent remains a click away and able to provide a personalized service experience based on the context collected through the bot.
- Paychex Integrations: As cloud adoption continues to rise, many businesses still struggle to bring tools together to realize data transparency and the full value of their investments. According to the 2019 Paychex Pulse of HR Survey, for example, more than 25 percent of HR professionals spend more than 15 hours per month – or nearly five weeks per year – rekeying data into multiple systems. Customers leveraging the Paychex Flex suite can already take advantage of existing integrations that help them improve financial oversite, find quality talent, and engage employees. Beginning in 2020, Paychex Integrations will take the company's integration partner strategy a step further, continuing to simplify the process for customers looking to connect Paychex Flex with some of the most popular HR, accounting, point-of-sale, and productivity applications on the market today.
To learn more about how Paychex is simplifying HR for today's businesses, stop by the Paychex booth (#1106) at the HR Technology Conference & Expo or visit paychex.com/HRTech. For those attending the show, Hammond will be featured on stage for two sessions, including "HR Tech Market Landscape: Payroll" alongside Trish McFarlane, CEO and principal analyst for H3 HR Advisors, and "Awesome New Technologies for HR." In addition, Portia James, Paychex director of leadership and organizational development, will be serving on the panel "Why Mentoring Matters" at the Women in HR Technology Summit on Oct. 1.
Paychex, Inc. (PAYX) is a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by more than 45 years of industry expertise, Paychex serves approximately 670,000 payroll clients as of May 31, 2019 across more than 100 locations in the U.S. and Europe, and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting paychex.com and stay connected on Twitter and LinkedIn.
About HR Technology Conference & Exposition
The 22nd Annual HR Technology Conference & Exposition®, October 1-4, 2019, at The Venetian® Las Vegas, is the world's largest HR technology event. As the industry's leading independent event for 20+ years, HR Tech has been a key catalyst for tens of thousands of HR and IT executives in their quest to leverage technology and secure HR's role as a pivotal component in their company's overall success. Visit www.HRTechConference.com for details.
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