CCC Launches CCC® Payroll to Streamline Payroll Management for Collision Repair Shops

Rhea-AI Summary

CCC Intelligent Solutions Inc. (CCCS) has launched CCC® Payroll, a new solution integrated into the CCC ONE® platform to streamline payroll management for collision repair shops. The solution, managed by Check, supports unique compensation structures in the industry and combines labor data with Repair Order tracking for precise calculations. Key features include:

• Real-time pay tracking via mobile app
• Digital pay corrections
• Compliance maintenance
• General ledger management

CCC Payroll aims to simplify the complex payroll process, enhance transparency, and potentially improve employee retention in an industry facing labor shortages. The solution is now available to CCC ONE users.

Positive

• Launch of CCC® Payroll, a new solution integrated into the CCC ONE® platform
• Streamlined payroll management specifically designed for collision repair shops
• Real-time pay tracking feature via mobile application, potentially improving employee satisfaction and retention
• Integration of labor data and Repair Order tracking for precise pay calculations

Negative

• None.

Insights

Financial Analyst

The launch of CCC® Payroll represents a strategic move by CCC Intelligent Solutions to expand its service offerings within the collision repair industry. This vertical integration could potentially increase CCC's revenue per customer and strengthen its market position. While the immediate financial impact may be , the long-term benefits could be substantial if widely adopted.

The solution addresses a critical pain point in the industry - labor management and retention. By streamlining payroll processes and increasing transparency, CCC Payroll could help repair shops improve employee satisfaction and reduce turnover costs. This value proposition might drive adoption and potentially increase CCC's customer base and recurring revenue streams.

Investors should monitor adoption rates and any impact on CCC's financial metrics in upcoming quarters to gauge the success of this new offering.

Tech Expert

CCC® Payroll's integration into the CCC ONE® platform is a significant technological advancement for the collision repair industry. By combining production tracking, labor management and payroll processing into a single system, CCC is leveraging data synergy to create a more efficient workflow.

The real-time pay tracking via mobile application is particularly noteworthy. This feature utilizes mobile technology and real-time data processing to provide immediate feedback to technicians, potentially improving job satisfaction and productivity. The system's ability to handle complex compensation structures (flat-rate, commission, hourly) demonstrates its tailored approach to industry-specific needs.

From a tech perspective, this integrated solution could reduce data silos, minimize errors from manual data entry and provide more accurate insights for business decision-making.

Market Research Analyst

CCC® Payroll's launch is a strategic response to the collision repair industry's ongoing labor shortage and retention challenges. By addressing the complex payroll needs of repair shops and increasing pay transparency, CCC is positioning itself as a solution provider to a critical industry problem.

The move also aligns with broader market trends towards integrated business solutions and employee-centric technologies. As businesses increasingly seek all-in-one platforms to streamline operations, CCC's expanded offering could enhance its competitive edge in the market.

However, success will depend on factors such as pricing, ease of implementation and the ability to demonstrate tangible benefits in employee satisfaction and retention. Monitoring customer adoption rates and feedback will be important in assessing the market's reception to this new product.

New Solution Enables Shops to Track Production and Labor and Streamline Payroll Together in the CCC ONE^® Platform

CHICAGO--(BUSINESS WIRE)-- CCC Intelligent Solutions Inc. (CCC), a leading cloud platform powering the P&C insurance economy, announces today the launch of CCC^® Payroll, a new solution designed to streamline payroll management for collision repair shops. Integrated into the CCC ONE^® platform, CCC Payroll enables shops to track production and labor, and streamline payroll within a single system, simplifying the payroll process from start to finish and giving employees greater visibility into how their pay is calculated. The payroll services will be managed by Check, the leading payroll platform that pioneered the ability for companies to differentiate and open up new revenue streams by embedding payroll into their platforms.

Designed specifically for repair shops, CCC Payroll supports the unique compensation structures of the collision repair industry, such as flat-rate, commission, and hourly pay. The solution streamlines payroll processing and related activities throughout each pay period. Labor data from CCC ONE combines with Repair Order (RO) tracking to generate precise, transparent calculations for each staff member as well as real-time pay tracking via mobile application. This allows technicians to see how their work on each job directly impacts their paycheck, offering greater clarity. This transparency can help build trust and retain employees, a critical issue for an industry facing ongoing labor shortages. Key features tailored to the collision industry include digital pay corrections, compliance maintenance, and general ledger management.

“Payroll management in the collision repair industry is complex with unique challenges that generic solutions often fail to address,” said Mark Fincher, vice president of product management at CCC. “CCC Payroll is purpose-built for collision repair to simplify this process while enhancing transparency and trust within the shop.”

Key features of CCC Payroll include:

• Integration with CCC ONE: Provides a unified system for managing labor, production, and payroll, reducing potential errors and the need to export data.
• Real-Time Pay Data: Allows technicians to view RO-level pay and hour data in the CCC ONE Mobile App in real-time, increasing understanding of paycheck details.
• Data-Driven Insights: Supports management of the general ledger and compliance, while also providing alerts to potential payroll processing errors.
• Payroll Services: Helps process payroll accurately and on time, cut checks, and manage cash flow.

“Labor shortages continue to challenge the collision repair industry, and one of the key contributors to retention issues can be friction in the payroll process,” added Fincher. "CCC Payroll addresses these challenges by streamlining payroll management and giving technicians clear and immediate access to their earnings information, which helps build trust and satisfaction, ultimately supporting a more stable workforce."

CCC Payroll is available to CCC ONE users. For more information, visit cccis.com/payroll.

About CCC

CCC Intelligent Solutions Inc. (CCC), a subsidiary of CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS), is a leading cloud platform for the multi-trillion-dollar P&C insurance economy, creating intelligent experiences for insurers, repairers, automakers, part suppliers, and more. The CCC Intelligent Experience (IX) Cloud™ platform, powered by proven AI and an innovative event-based architecture, connects more than 35,000 businesses to power customized applications and platforms for optimal outcomes and personalized experiences that just work. Through purposeful innovation and the strength of its connections, CCC technologies empower the people and industry relied upon to keep ​lives moving forward when it matters most. Learn more about CCC at www.cccis.com.

Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding future use and performance of CCC’s digital solutions. We cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, competition, including technological advances and new products marketed by competitors; changes to applicable laws and regulations; and other risks and uncertainties, including those included under the header “Risk Factors” in CCC’s filings with the Securities and Exchange Commission (“SEC”), including the Form 10-K filed February 28, 2024, which can be obtained, without charge, at the SEC’s website (www.sec.gov). The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240904549786/en/

CCC Media Contact: Laura Weber

lweber@cccis.com | 773.960.7144

Source: CCC Intelligent Solutions Inc.

FAQ

What is CCC® Payroll and how does it benefit collision repair shops?

CCC® Payroll is a new solution integrated into the CCC ONE® platform that streamlines payroll management for collision repair shops. It combines labor data with Repair Order tracking for precise pay calculations, offers real-time pay tracking via a mobile app, and supports unique compensation structures in the industry, potentially improving employee satisfaction and retention.

How does CCC® Payroll address labor shortages in the collision repair industry?

CCC® Payroll addresses labor shortages by streamlining payroll management and providing technicians with clear, immediate access to their earnings information. This transparency helps build trust and satisfaction, potentially supporting a more stable workforce and improving employee retention in an industry facing ongoing labor challenges.

What are the key features of CCC® Payroll for collision repair shops?

Key features of CCC® Payroll include integration with CCC ONE for unified labor, production, and payroll management; real-time pay data accessible via the CCC ONE Mobile App; data-driven insights for general ledger and compliance management; and payroll services for accurate and timely processing, check cutting, and cash flow management.

When will CCC® Payroll be available for CCC ONE users?

CCC® Payroll is currently available to CCC ONE users. Collision repair shops using the CCC ONE platform can now access this new payroll management solution.