OKLAHOMA CITY--(BUSINESS WIRE)--
Paycom Software, Inc. (“Paycom”) (NYSE: PAYC), a leading provider of
comprehensive, cloud-based human capital management software, today
announced the release of Direct Data Exchange, the industry’s first
comprehensive management analytics tool giving employers insights into
efficiencies gained through employee usage of HR technology.
“Our technology can accelerate a company’s digital transformation by
empowering employees to self-manage their information by connecting
directly with their HR database,” said Chad Richison, Paycom’s founder
and CEO. “The analytics generated by our Direct Data Exchange can help
businesses achieve maximum ROI from their HR technology through
real-time monitoring and tracking of usage trends.”
In a recent study, EY concluded that, on average, a single HR task or
entry of data without self-service functionality takes $4.39 to
complete, including labor and other costs (e.g., printing,
copying and postage), but could be as much as $18.47. Using Paycom’s
Direct Data Exchange tool, employers not only can see the cost savings
associated with changes made by employees, but they can also drill down
into specific aspects of the Paycom software – including time and
attendance, benefits, expenses, time-off requests, tax and payroll
modifications – to determine exactly where additional savings can be
achieved.
Some of the many features of Paycom’s Direct Data Exchange tool include:
-
a comprehensive, real-time employee usage score;
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a detailed view into data entries made by the HR department versus
those made by the employee;
-
an average dollar value assigned to HR-related information entered
and/or updated by employees;
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estimated costs associated with employer-entered data that could have
been entered more efficiently and cost-effectively by the employee;
-
organizational employee usage trends arranged by the client’s
preferred time frame; and
-
total logins (filterable by individuals) to Employee Self-Service
through any device.
For more information and to see Paycom’s Direct Data Exchange, visit paycom.com/direct-data-exchange.
About Paycom
As a leader in payroll and HR technology, Oklahoma City-based Paycom
redefines the human capital management industry by allowing companies to
effectively navigate a rapidly changing business environment. Its
cloud-based software solution is based on a core system of record
maintained in a single database for all human capital management
functions, providing the functionality that businesses need to manage
the complete employment life cycle, from recruitment to retirement.
Paycom has the ability to serve businesses of all sizes and in every
industry. As one of the leading human capital management providers,
Paycom serves clients in all 50 states from offices across the country.
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Paycom Software, Inc.
Media Contact:
Jason Bodin
media@paycom.com
Source: Paycom Software, Inc.