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NelsonHall Recognizes Paychex as a Human Capital Management Leader

HR Tech Outlook | Thursday, December 02, 2021

Paychex Flex® has got recognized as the industry's premier integrated software and service solution.

Fremont, CA: Paychex added numerous new features and services to Paychex Flex, its end-to-end HCM platform, to assist businesses in 2020, including:

  • HR Conversations - This makes it simpler for employees and managers to cooperate and communicate online, keeping everyone on the same page with job responsibilities.
  • HR Connect – Allows workers to digitally submit questions, requests, and issues through an easy-to-use procedure, which is helpful as employees continue working remotely.
  • New compliance dashboard with OSHA and EEO-1 reporting features — Enables companies to digitally record vital workforce data and provide the reports required to assist meet obligations.
  • Employee Retention Tax Credit (ERTC) and Paycheck Protection Program (PPP) tools – Deliver easy and consolidated reports that incorporate payroll information to assist firms in applying for and receiving PPP debt forgiveness, as well as securing retroactive ERTC financing. Paychex has helped clients acquire $65 billion in PPP loans and $6 billion in tax credits to date.
  • Pay-as-you-go – Improves retention and productivity by providing workers with real-time access to earned revenue, which allows them to enhance their financial freedom.

Paychex was named a "Leader" by NelsonHall, a renowned worldwide analyst and research organization, in its most recent annual NEAT vendor evaluation study for human capital management (HCM). Paychex, a prominent supplier of integrated human capital management solutions for HR, payroll, benefits, and insurance services, has been placed in the Leader quadrant of the Next Generation HCM Technology report due to a consistent focus on HCM software advancements that meet the modern way of working.

"Paychex has quietly developed its Paychex Flex technology into a digitally focused platform offering that spans the employee journey and punches above its weight in HCM technology maturity, including robust COVID-related workplace tools," said Pete Tiliakos, HR analyst and principal Next Generation HCM Technology report author. "These are paired with an expansive, one-stop-shop for modern HR and payroll solutions and services curated to support the needs of growing small and mid-sized businesses."

In the NEAT study, NelsonHall assessed 13 HCM suppliers based on two criteria: (1) capacity to offer immediate client benefits and (2) ability to satisfy customers' future expectations.

 Hammond, Paychex vice president of corporate strategy and product management. "We continue to work directly with our clients to introduce integrated technology solutions that allow them to address the evolving HR landscape and streamline the employee experience from recruitment to retirement. It is an honor to be recognized by NelsonHall as a leader in doing just that – simplifying the management of HR, payroll, and benefits within a single platform."

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