Paycom’s Newest Tool Automates Asset Management, Prevents Losses and Increases Compliance for Employers

Paycom Software, Inc. (“Paycom”), a leading provider of comprehensive, cloud-based human capital management software, announced the launch of its latest tool, Asset Management, the industry’s first unified seating and property management tool built directly into HCM software to support and automate the entire asset life cycle.

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Paycom launches its latest tool, Asset Management, the industry’s first unified seating and property management tool built directly into HCM software to support and automate the entire asset life cycle.

The new tool connects workspace and property details based on employee role or asset location. By tracking asset ownership and workplace changes in a single system of record, organizations can strengthen security of their assets, support compliance and maintain complete audit trails while reducing lost property.

“One of the largest budgetary spends for businesses is on the physical and digital resources needed to run them,” said Chad Richison, founder and CEO of Paycom. “Paycom’s Asset Management helps ensure those investments are deployed, tracked and recovered efficiently while automating the workflows that support them.”

Asset management challenges remain widespread across organizations worldwide. In a survey commissioned by Paycom, 82% of employers — including enterprise organizations with 25,000 or more employees — reported dealing with asset-management-related challenges, such as lost or unaccounted-for equipment, duplicate purchases, compliance or audit issues, security risks, delays in onboarding employees and even employees not being able to work due to missing equipment.

Nearly 80% of study respondents said asset tracking and workspace management challenges negatively impact their organization’s efficiency, underscoring how today’s technology and processes could benefit from Paycom’s latest release.

How can Paycom’s Asset Management help an organization?

By automating the distribution, collection and management of company property, Paycom’s Asset Management eliminates repetitive tasks, reducing decision fatigue and helping lower the associated costs of lost assets. It replaces workflows that organizations currently manage through spreadsheets, siloed tools and manual activities, allowing organizations to set their rules once and let the software handle the rest.

Paycom’s Asset Management also automatically determines equipment based on roles, so employees can start working on Day 1, removing the decision-making burden on leaders to request or coordinate those assets for new hires.

Asset Management users can also:

• Track property, such as laptops, software licenses, uniforms and much more, by employee or physical location
• Upload floor plans and map seating assignments for easy companywide displays, which also illustrate property and asset locations
• Enforce equipment return policies when employees change roles or leave the company
• Maintain more comprehensive employee records, seating assignments and asset data aligned throughout the entire employee life cycle
• Automate the recoupment of lost or uncollected asset costs through payroll
• View real-time dashboards for asset statuses, seating assignments and more

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