Paylocity offers a diverse suite of software products with the tools businesses need to run successfully. In addition to payroll software, business owners can take advantage of human resources, time and labor management, talent development and benefit administration features. This makes it a popular choice for companies that want an all-in-one, cloud-based payroll solution.
Paylocity at a Glance
Paylocity was founded in Illinois in 1997 as Ameripay Payroll Limited to create a unified HR, payroll and workforce management platform. The company was renamed Paylocity in 2005 and has been frequently named on the annual Inc. magazine list of fastest-growing private firms.
In March 2014, the company raised more than $82 million in its initial public offering of stock. Its software solutions have been highly ranked in customer satisfaction by the G2 Crowd Grid Reports, which gather reviews from verified users. Though still headquartered in Illinois, Paylocity now has offices across the nation.
Overview of Paylocity Features
As a payroll provider, Paylocity offers an intuitive cloud-based solution called Web Pay. The program is designed to save users time by making it easy to gather and enter information, run reports and establish administrative systems for payroll. Highlights of the software include:
- Templates for new hires and other common forms that can be quickly customized for your business needs
- Spreadsheets designed to support decision-making when configured to your business, including reports and ledgers with instant calculations
- Enhanced payroll accuracy with an integrated system of preview and verification before checks are produced
- Customized checklists for all your internal systems
- Employee action forms that automate the required approvals for promotions, terminations, salary changes and other actions
- Simple data integration for your existing records
- Web Expense, which simplifies the expense-reimbursement process by automatically adding approved expenses to employee payroll
- Integrated tax-filing services
When it comes to human resources, Paylocity provides streamlined onboarding and immediate new-employee engagement. The compliance dashboard is designed to ensure that you’re always in front of tax and HR regulations. Interactive employee training on topics such as sexual harassment is offered directly through the system, with integrated reminders and documentation of completion.
Across the platform, a system of checks and balances is included to remove redundancy and enhance efficiency for optimal business operations. Third-party services, such as benefit programs and flexible spending accounts, can be seamlessly integrated with your Paylocity dashboard. This creates a truly unified experience that makes things easy for both your employees and administrators.
Web Time offers accurate time tracking for salaried, hourly and remote employees, including the ability to set geofences to prevent remote check-ins. You’ll effortlessly be able to administrate meal breaks, paid-time-off accruals, sick time, vacations and more. Employees can use the self-service system to request time off, check their balances and complete other functions.
In addition to its web-based dashboard, Paylocity offers a full-service, responsive mobile solution with every subscription. Employers and employees alike can access information about payroll, benefits, paid time off and much more at the push of a button.
Paylocity clients can access a comprehensive content library with resources that allow them to make the most of the company’s software solutions. Free, unlimited training courses include instructor-led sessions as well as flexible webinars, recorded sessions and videos. This makes it easy to bring the team up to speed with your new system.
Although Paylocity has not made its pricing structure publicly available, anecdotal reports indicate that the cost of the software ranges from $2 to $4 per employee per month depending on the features required. This means that your monthly charge would fall between $200 and $400 if you have 100 employees. Potential clients who request a demo of Paylocity software will receive a customized quote.
Paylocity consistently ranks among the top payroll software companies because of its intuitive use, well-designed dashboard, robust reporting and analytics and comprehensive approach to payroll and HR. The company’s expressed mission is to elevate these areas and quantify their true impact with the same type of high-caliber software systems available for other business functions. Businesses shopping for a full-service, cloud-based platform that can adeptly satisfy diverse administrative needs at a reasonable cost should consider registering for a Paylocity demo.
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