(Newswire.net — February 9, 2024) — Paycom, the leading provider of comprehensive, cloud-based human capital management software, is introducing its industry-first employee self-service payroll experience, Beti®, to the United Kingdom. U.S.-based businesses with employees in the U.K. will have access to Beti, which empowers employees to do their payroll.
Paycom co-CEO, president and chairman Chad Richison emphasized the significance of this launch, stating, “This expansion to the U.K. reflects our commitment to providing innovative technology that simplifies the lives of employees, enables our clients to better engage their employees and drives further employer ROI on a global scale.”
This latest venture follows Paycom’s move into Canada and Mexico as well as the launch of Global HCM™ to increase the availability of Paycom’s software to users in more than 180 countries and 15 languages and dialects. Let’s take a closer look at more of Paycom’s cloud-based human capital management services.
Beti — Now, Employees Do Their Own Payroll
Paycom’s Beti is a one-of-a-kind self-service software that allows employees to directly view and approve their payroll, minimizing errors, enhancing accuracy, and instilling a sense of ownership, resulting in fewer discrepancies and improving inefficiencies.
Beti efficiently handles the monotonous tasks of calculating work hours, tallying expenses, and managing compensation variations. Additionally, real-time monitoring ensures HR managers have immediate insights into any pending actions, terminations, or check adjustments.
According to a commissioned Total Economic Impact™ study conducted by Forrester Consulting on behalf of Paycom in 2023, organizations implementing Beti experienced a remarkable 90% reduction in the time spent processing payroll.
Vault — Giving Employees Financial Flexibility
Paycom’s Vault Visa® Payroll Card can replace conventional payroll disbursements like checks and direct deposit. This innovative card grants employees access to their earned wages up to two days earlier, allowing employees early access to their earnings while providing exclusive access to a variety of Visa offers and perks. With no activation fees, minimum balance requirements, or monthly fees, employees can easily enroll using Paycom’s user-friendly mobile app, making Vault convenient and easily accessible.
Everyday™ — Paying Employees Daily
Used alongside Vault, Everyday enables users to receive daily payments without incurring costly fees, ensuring both financial flexibility for employees and compliance for employers. This approach safeguards against potential losses from situations like early employee departures, providing a seamless and fee-free experience.
Everyday is designed with smart automation and compliance in mind, managing taxes, benefits, and deductions before transactions occur. This prevents overpayments and ensures regulatory compliance. Every day allows employees to have increased financial wellness and visibility and gives employers a unique competitive edge for hiring and retention.
Innovating Payroll Worldwide
By seamlessly combining innovative payroll with HR technologies in the same software, Paycom empowers both employees and employers, offering a suite of solutions that foster efficiency, compliance, and financial flexibility. This move represents a pivotal next step for Paycom into the global arena and marks a significant contribution to the evolving landscape of HR technology as HR professionals continue to need and invest in new solutions. Paycom’s strategic expansion of Beti beyond North America introduces innovative software to new markets and provides organizations access to proven HR solutions for U.S.-based companies with employees in the U.K.