Paychex, a provider of HR, payroll, benefits, and insurance solutions that has sent more than $60 million in real-time payroll over the RTP® network since May, has won the “Top HR Product of the Year” by Human Resource Executive magazine for its Paychex Flex® remote workforce enablement solution.
Paychex, which is the first provider to offer real-time payroll over the RTP network, won the award, in part, because Paychex Flex “allows employers to leverage real-time payments capabilities to process payroll on their desired check date and fund employee direct deposits within seconds.” To date, Paychex has sent more than 41,000 transactions over the RTP network. Paychex Flex is a cloud-based SaaS platform. Paychex will be presented with the award at the HR Technology Conference & Exposition later this month.
Citing numerous HR challenges that have arisen due to the COVID-19 pandemic, Steve Boese, chair of the HR Tech Conference, said, “The Paychex Flex Remote Workforce Enablement set of solutions address many of these new challenges with new capabilities to manage and enable the move to remote work, manage important business documents completely virtually, and help organizations navigate programs like the Paycheck Protection Program. Finally, Paychex enables real time payments, a critical tool to help manage cashflow.”
Highlights from Paychex’s winning entry, include:
- Paycheck Protection Program (PPP) Solutions: To date, Paychex has furnished 500,000 PPP reports for customers and helped them secure more than $28 billion in PPP loans with the PPP Application Report, forgiveness calculator, and signature-ready forgiveness application capability.
- Digital Payments: Allows employers to leverage real-time payments capabilities to process payroll on their desired check date and fund employee direct deposits within seconds.
- HR Conversations: Helps to foster remote employee engagement by conducting pulse check-ins to help ensure workload balance, safety, and well-being.
- HR Connect: Allows employees and managers to submit cases (such as a workplace accident) that allows for a seamless transition to an OSHA-reportable incident and automates OSHA 300 reporting.
- Document Management: Automates employer distribution of policies and procedures, such as pandemic-specific work from home policies and allows employers to virtually collect employee acknowledgment and documentation.
- Time Management: Allows an employee to punch from anywhere on any device (desktop/mobile/Apple Watch) and easily manage time by integrating personal calendars with Flex Time, eliminating the need to log in to Flex.
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