Paycom advancing payroll: Creating an efficient process

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Payroll management can feel like a juggling act with balancing employee satisfaction, administrative tasks, and financial efficiency.

That’s why Paycom, a leader in cloud-based human capital management software, delivers solutions that streamline payroll with products like BetiⓇ, Vault, and Everyday™.

Think of this winning trio as the powerhouse of payroll management improving your company’s processes.

Let’s take a closer look at how these three work in tandem to give your organization the edge in employee engagement and retention.

Beti – putting payroll in employees’ hands

With Paycom’s Beti, employees take the driver’s seat with their payroll.

This one-of-a-kind, employee-driven payroll software allows employees to directly review and correct their payroll information before it’s processed.

It reduces the chances of mistakes, improves accuracy, and gives employees a sense of ownership over their data.

Traditionally, employees would submit their timesheets, and HR managers would invest considerable time rectifying errors, aligning data, and processing payments.

This manual intervention could potentially cause discrepancies and inefficiencies, which could impact payday. 

Beti streamlines this process — here’s what it offers:

• Empowered employees: Beti gives control to employees, allowing them to verify and approve their payroll data before it’s finalized.
• Automation at its best: With Beti, the monotonous tasks of calculating work hours, tallying expenses and reviewing compensation variations become a thing of the past. With Beti’s automated system, the heavy lifting is effortless.
• Guided navigation: Beti reminds employees about tasks needing their approval or modification. No stone is left unturned in guaranteeing the utmost accuracy in payroll processing.
• Real-time monitoring: An intuitive dashboard gives HR managers a real-time view of any pending actions, check adjustments or terminations.
• Reduced risk: Because Beti enables employees to confirm their pay accuracy before processing, it dramatically minimizes the chances of post-payment corrections.

The autonomy Beti offers employees helps improve employee engagement and cuts down on the administrative burden faced by HR professionals and managers.

Vault – Secure Visa® Payroll Card

Paycom’s Vault Visa® Payroll Card removes the hassles of conventional payroll disbursements by replacing checks and direct deposit with a flexible, secure, and reliable option to deposit wages directly onto a payroll card.

The benefits are twofold. For employers, Vault offers cost savings, efficient payroll disbursements, and improved cash management.

For employees, Vault provides immediate access to earned wages — a convenient solution that reduces dependency on traditional banking channels.

And the best part? Employees can receive their pay up to two days earlier for greater financial flexibility!

Here’s a look into Vault’s other exciting perks:

• Smooth sign-up and monitoring: Vault promises a smooth process from start to finish. Enroll using Paycom’s user-centric mobile app and get instant digital pay card access upon approval, with a physical card to follow.
• A paperless approach: Vault redefines traditional pay processes by eliminating the clunky paper payrolls and the threats of physical check fraud.
• Economized earnings: Vault offers an alternative to bank accounts, helping employees retain more of their earnings and giving them exclusive access to an array of Visa offers and perks. With no activation fee, minimum balance requirement or monthly fee, financial liberty is here.
• Handy and safe transactions: Employees can use their card wherever Visa debit cards are accepted and can withdraw cash from over 40,000 Allpoint ATMs without any associated fees. For next-level convenience, they can connect the card with Apple Pay, Samsung Pay and Google Pay. And thanks to Visa’s Zero Liability Policy, their transactions are secure against unauthorized activities.

Everyday – employees’ access to daily pay

The path to payday can often feel long and winding, especially when life springs unexpected expenses or urgent needs.

Understanding that the employees’ needs don’t always align with the traditional pay cycle, Paycom introduced Everyday.

Employees no longer have to wait until the end of the pay cycle to access their earnings. Everyday payments arrive on their Vault card, ready for use when they need it most. 

Here’s what to expect from this feature:

• Speed and simplicity: Everyday provides an alternative to the traditional payday cycle. Hourly employees, for example, will clock out and have their timecards approved. Their daily wage becomes available on their Vault Visa Payroll Card the next working day.
• Smart automation and compliance: Everyday is built to blend accuracy and convenience seamlessly. It automatically handles taxes, benefits and deductions before any transactions take place, avoiding overpayments and ensuring compliance.
• No costs: Because Everyday works with already earned wages, it doesn’t operate as a loan. This means employees can enjoy the benefit of receiving payments without worrying about paying interest.
• Supporting tools: To unlock the full potential of Everyday, employees can count on Beti (their user-friendly guide to self-managed payroll) and Vault (their secure treasury for daily wages).

The power trio of payroll efficiency

Beti, Vault, and Everyday by Paycom work together to innovate payroll management.

They give employees the power to guide their payroll processing, access their wages conveniently through their Visa payroll cards, and enable daily wage disbursements.

Paycom is not just simplifying payroll processes but also boosting financial wellness for employees. This trio is the gold standard for tomorrow’s payroll processing.

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Disclosure: This is a sponsored post. However, our opinions, reviews, and other editorial content are not influenced by the sponsorship and remain objective.