An efficient payroll and human capital management solution has become a common need for many organizations. Steve Beauchamp, President and CEO of Paylocity, a provider of cloud-based payroll software designed to simplify daily processes of payroll and HR professionals, reveals how his company is instrumental in helping its clients overcome their HCM concerns. “Before Paylocity, our customers used timesheets to input hours. Post-payroll, the client scanned these documents, saved them to the server, and stored them in a filing cabinet. Accuracy in time sheets was an issue. PTO requests was a hassle, and was frequently not submitted on time.” However, time and again, after the introduction of Paylocity's automated tools, accuracy has increased and the payroll processing time drastically reduced.
Today, the testimonials of happy clients speak volumes about Paylocity's prowess in mitigating critical human capital management issues. Paylocity's cloud-based solution has unified payroll, human capital management, and talent management applications. The company has revamped businesses that previously relied heavily on traditional tools like Excel and paper records.
Retention Risk Dashboard and Web Expense are two of Paylocity's tools that give better insight about the firm's capability to simplify conventional business processes. The panel helps organizations ensure effective employee retention decisions and implement better strategies for the same.
Paylocity's cloud-based solution unifies payroll, human capital management, and talent management applications
The Retention Risk Dashboard helps in the comparative study of employees based on factors such as compensation and helps in devising the most optimal retention approach.
On the other hand, Web Expense automates the long, cumbersome process of cost management — from filing an expense to the receipt of reimbursement, which consumes time and effort. “Web Expense eliminates manual steps often involved in filing, approving, and reimbursing expenses. This level of automation can help increase efficiency, improve productivity, and reduce monetary costs associated with processing expense reports and correcting errors,” said Beauchamp.
One of the many advantages for a Paylocity client is transparency among employees across hierarchies. Its tools allow employees to update personal information, which is also accessible to managers and supervisors. This practice prevents an HR professional from getting tangled in hassles like manually tracking the details of each member of the organization.
The firm's unconventional 'talent anywhere' paradigm places it in a league of its own. Paylocity employs skilled individuals from across the country, under the belief that it should not matter where top talent is located. The company also provides its workforce the flexibility of accessing its portals from mobile devices. The remote access approach helps in hiring talent quickly.
Apart from business transactions, Paylocity frequently communicates with its clients and updates them with emerging trends in human capital management, industry news, and government legislation. The company has also bagged a string of laurels in the recent past for its accomplishments in the payroll and human capital management domain. Securing a place in 'Best & Brightest Companies to Work for in the Nation 2016' and 'Built in Chicago Top 100 Digital Companies 2012-2016' are two such felicitations.