Paychex Launches Pay on Demand, E-Signatures, Customizations

Following through on promises made in September, Paychex rolled out enhancements that represent “significant updates” to its integrations, document management and the Paychex Flex dashboard. It also launched its planned pay-on-demand solution. 

“Our customers have told us they are looking for ways to streamline internal processes to support fast-paced and increasingly complex HR needs,” said Paychex Vice President of Marketing Maureen Lally. She described the products, which were released over the last three months, as being designed to make it easier for customers to manage operations and meet employee expectations.

The enhancements include:

• Pay on demand, which allows customers to provide employees with access to earned wages before their scheduled pay date. Employees who enroll can have funds deposited into a bank account, onto a debit card or into a mobile wallet. The company initially announced the feature in September 2019.

• Customizable dashboards can be used by both employee and administrative users to tailor their Paychex Flex dashboard by incorporating the information and tools they choose. They can either select a layout built on persona-based templates or configure their own dashboard from scratch.

• New electronic signature capabilities have been added to the Paychex document management solution. Users can digitally capture signatures for documentation  including Paychex forms and other uploaded files. They can also run on-demand audit reports.

• Enhanced filtering, search, historical trending and export capabilities have been added to the company’s analytics capabilities.

• The help center provides training resources and how-to tutorials using natural language processing and predictive learning features.

Paychex plans to announce its fiscal 2020 third quarter earnings on March 25. In December, it reported revenue of $990.7 million for the three months ended Nov. 30, 2019, an increase of 15 percent from $858.9 million during the year-earlier period. Net income rose 10 percent to $258.7 million. Those results outpaced analyst expectations.

Sign up for our newsletter here.

Image: Paychex