INSURANCE TECHNOLOGY

Paychex Wins Two Brandon Hall Group Excellence in Technology Awards

Brandon Hall Group, Inc. | December 23, 2021

Cloud Based News
Paychex, Inc., a leading provider of human resources, payroll, benefits, and insurance solutions, has won two Brandon Hall Group Excellence in Technology Awards. The company's Employee Retention Tax Credit (ERTC) Service was recognized by Brandon Hall Group with a gold award for Excellence in Technology in the "Best Advance in HR or Workforce Management Technology for Small and Medium-Sized Businesses" category, and Paychex Pre-Check received a silver award for "Best Advance in Business Strategy and Technology Innovation." This is the ninth consecutive year that the research and analyst firm has recognized Paychex technology solutions.

"HCM solution providers must be experts and visionaries in technology, but they also must have the ability to anticipate the diverse needs of employers as they work to adapt to ongoing change, This requires a blend of curiosity, empathy and agility that is difficult to achieve. We have seen an extraordinary level of insight and creativity from our Excellence in Technology winners that has been exciting to see."

- Brandon Hall Group CEO Mike Cooke

As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Employee Retention Tax Credit (ERTC) helps businesses claim tax credits on qualified wages paid to employees and health plan expenses in 2020 and 2021. Paychex introduced a new offering – the Paychex ERTC Service – to help businesses retroactively identify tax credits and file amended returns to claim the credit based on wages already paid. The Paychex ERTC Service leverages the Paychex Flex® technology to streamline and automate the amendment process, providing support for customers to identify and access government stimulus funds that could keep their business open. To date, the company has helped its customers apply for $6 billion in total tax credits in addition to $65 billion in Paycheck Protection Program (PPP) stimulus funds.

"It is an honor for Paychex to be recognized by Brandon Hall Group for our ERTC service, which is a perfect blend of our compliance expertise, leading technology, and powerful customer support, Our team's speed and agility in implementing this solution has resulted in billions of dollars in stimulus for Paychex customers at a time when they need it the most to offset wage increases and address supply chain challenges."

- Martin Mucci, Paychex CEO.

Also recognized for advancements in technology innovation is Paychex Pre-Check. The Pre-Check technology provides employees the opportunity to preview their paycheck with a self-review of the gross-to-net paystub on a device of their choice to confirm its accuracy before payday. Payroll is the foundation of the employer-employee relationship. When errors occur, employers may increase the risk of losing trust and compromising retention. This critical solution was designed to increase payroll processing accuracy, reduce errors and expenses associated with payroll corrections, and offer a streamlined feedback loop between employers and employees through Paychex Flex.

"Finding ways to simplify the business challenges that were amplified by the pandemic has been a driving force behind each innovation released within our cloud-based Paychex Flex software over the past year, Coupled with the human element of what we do as a service provider has led to an incredible opportunity for Paychex to make a difference for small and medium-sized businesses. We're proud of the work done to meet the needs of our customers and thankful for this validation by Brandon Hall Group."

- Tom Hammond, Paychex vice president of corporate strategy and product management.

A panel of veteran, independent senior industry experts, and Brandon Hall Group senior analysts and executives, evaluated the entries based upon the following criteria:
  • Product: What was the product's breakthrough innovation?
  • Unique differentiators: What makes the product unique, and how does it differ from any competing products?
  • Value proposition: What problem does the product solve and/or what need does this product address?
  • Measurable results: What are the benefits customers can expect to experience as a result of using this product?

The complete list of Technology Excellence Award winners can be found on the Brandon Hall Group awards page.

About Paychex
Paychex, Inc. (Nasdaq: PAYX) is a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by 50 years of industry expertise, Paychex served more than 710,000 payroll clients as of May 31, 2021 across more than 100 locations in the U.S. and Europe, and pays one out of every 12 American private sector employees.

About Brandon Hall Group, Inc.
With more than 10,000 clients globally and 20 years of delivering world class research and advisory services, Brandon Hall Group is the most well-known and established research organization in the performance improvement industry. We conduct research that drives performance, and provides strategic insights for executives and practitioners responsible for growth and business results. Brandon Hall Group has an extensive repository of thought leadership, research and expertise in Learning and Development, Talent Management, Leadership Development, Talent Acquisition and Human Resources. At the core of our offerings is a Membership Program that Empowers Excellence Through Content, Collaboration and Community. Our members have access to research that helps them make the right decisions about people, processes, and systems, combined with research-powered advisory services customized to their needs.

Spotlight

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Purchasing a term life plan is a guarantee that your family will remain financially secure, in case of an early demise. If you are the sole breadwinner of the family, then a term life plan is a must. A term life plan helps your family’s finances stay on track and settle debts on an early demise. However, there are some important factors you must consider, before purchasing a term insurance plan.

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