Paychex, one of the known leaders in the payroll, human resource, and benefits outsourcing industry offers a range of must-have HCM solutions to its users. In this product overview, I take you through Paychex’s top features:
A Quick Overview of Paychex
Paychex is an HCM solutions provider that has an entire suite of Payroll, HR, and benefits outsourcing services/products built for companies of all sizes and industries. It was founded in 1971 and is currently led by the President and CEO, Martin Mucci.
Let’s have a look at the range of services on offer by Paychex:
- Payroll Services – Small Business Payroll, Midsize to Enterprise Payroll, Compare Payroll Packages, Switch Payroll, and Online Payroll
- Time and Attendance – Online Timekeeping, Iris Recognition Time Clock, and Time Clock
- HR Services – Benefits Administration, Compliance Services, and Records Administration
- Professional Employer Organization – Full-service HR outsourcing
- Hiring Services – Employee Onboarding, Employment Screening Services, and Recruiting and Applicant Tracking
- Employee Benefits – Group Health Insurance, Individual Health Services, Retirement, and Financial Wellness
- Business Insurance – Workers’ Compensation, Cyber Liability, Property Insurance, Business Owner Policy, Liability Insurance, and Umbrella Insurance
- Finance and Payments – Business Loans, Payment Processing, and Tax Services
- Startup Services – Incorporation Services and Online Marketing Services
The services are spread across numerous web-based and mobile-based applications depending upon user-roles and the requirements of the businesses. Some of the notable ones include My Paychex, Paychex Preview, Paychex Go, Paychex Flex, eServices, Time and Labor Online, Accountant HQ, and a lot more! But Paychex Flex has garnished the most attention owing to its multi-functional offerings.
What’s Special about Paychex Flex?
Paychex launched its landmark product, Paychex Flex in 2014 to offer seamless access to HR, payroll, and benefits information to its already diverse client-base. The cloud-based solution boasts of robust software that provides a simple, yet powerful user experience in terms of workforce management. It is an all-in-one solution for everything related to HR, be it payroll management, time and attendance tracking, benefits administration, and everything else a comprehensive HCM tool needs! Accessing any information related to finances, taxes, 401K, insurance, etc. is just a click away.
Furthermore, Paychex Flex offers instant access to all the information via Android and iOS-powered smartphone applications in addition to its web app. The 24/7 US-based live support is an added convenience to users getting stuck during any point of operation.
Coming to the Cons…
With an array of options at their disposal, clients on many occasions find navigating through the site/app a bit difficult. A few services require you to navigate outside of the platform which can be an area to work on for the company.
Paychex also keeps updating its features and overall UI that might further complicate matters for users who would like to keep the interface clean and minimalistic. It would really help the cause if the users were provided with the option to customize their home-screens with the information they needed in the front while hiding the less-used or irrelevant tabs.
Some of the key competitors of Paychex are ADP, Zenefits, Paylocity, BambooHR, and Rippling.