Paychex, which provides solutions for HR, payroll, benefits and insurance, is offering users of Clover, a business management platform from Fiserv, the chance to streamline payroll services as well as time and attendance management, according to a press release.
With Paychex Flex, now available via the Clover App Market, small- to medium-sized businesses (SMBs) can access tools to better manage payroll, staffing, time tracking and scheduling, budgeting time and boosting accuracy while also cutting costs, the release stated. By using the Paychex app, employees can punch in and punch out from Clover point-of-sale (POS) devices. Merchants can then access new benefits like an employee status board, absent notifications and labor cost controls via time management tools.
Tom Hammond, vice president of Corporate Strategy and Product Management at Paychex, said the pandemic has showed how important it is for businesses to always be on the cusp of innovations.
“Paychex Flex offers a full suite of HR solutions, enabling our clients to integrate with essential business systems directly,” he said, according to the release. “This relationship with Fiserv and Clover significantly streamlines employer operations, delivering a superior client experience and giving employees access to extensive self-service benefits. It also demonstrates our commitment to connect Paychex Flex users with critical business tools to make their time at work as productive as possible.”
Paychex has seen the results of the way the pandemic has upended decades-old traditions surrounding payroll’s weekly or biweekly payments. With the new digital work processes, companies have looked at revamping that process, and Hammond told PYMNTS that real-time payments have become a possibility.
Hammond said that the pandemic’s economic stressors have had companies and workers trying to pay off bills when they can in a highly volatile atmosphere. He said the real-time payments option eliminates the need for companies to worry about having cash on hand for a payroll cycle.