Paychex Named a Leader in Payroll Services by NelsonHall

Rhea-AI Summary

Paychex has been recognized as a "Leader" in the 2022 NelsonHall Vendor Evaluation and Assessment Tool (NEAT) report for payroll service providers, marking the sixth consecutive time. The report evaluated 24 vendors based on their ability to deliver immediate client benefits and future-ready capabilities. Paychex's technology focuses on payroll quality and compliance, offering features like Paychex Pre-Check and Compensation Summary Reports. With over 50 years of experience, Paychex serves more than 730,000 payroll clients, emphasizing its commitment to innovative payroll solutions.

Positive

• Recognized as a "Leader" in NelsonHall's NEAT report for payroll services.
• Introduced advanced features such as Paychex Pre-Check for ensuring paycheck accuracy.
• Serves over 730,000 payroll clients, indicating strong market presence and reliability.

Negative

• None.

This is the sixth consecutive time that Paychex has been recognized as an industry leader

ROCHESTER, N.Y., Sept. 15, 2022 /PRNewswire/ -- NelsonHall, a global analyst and research firm, has once again identified Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services, as a "Leader" in its 2022 NelsonHall Vendor Evaluation and Assessment Tool (NEAT) report for payroll service providers. This is the sixth consecutive time Paychex has been positioned in the upper right quadrant of the NEAT graph with a leader designation.

Liz Rennie, NelsonHall's HR Technology & Services Research Director, said "Paychex is a Leader in the Comprehensive Payroll Capability and Digital Payroll Capability market segments, clearly demonstrating that it can change with the times through constantly improving and offering additional tools for payroll quality and compliance. Its payroll technology is one of the most advanced, bringing benchmarks as well as digital service enablement, and is complemented by a highly responsive and high-quality customer support model. Paychex clients benefit from having improved insights and greater visibility of data as well as improved accuracy and timeliness of payroll."

NelsonHall's 2022 NEAT report evaluated 24 payroll services vendors based on two criteria: (1) ability to deliver immediate client benefits and (2) ability to meet clients' future requirements. Paychex was positioned highly in the "Leader" category, fulfilling both criteria.

"We are proud of our 50-year track record of successfully helping American businesses pay their employees through simple and intuitive technology and highly professional services," said Tom Hammond, vice president of corporate strategy and product management at Paychex. "Receiving recognition from firms like NelsonHall is another indication that we are building on our payroll foundation to offer innovative services that not only meet the current needs of our customers but offer solutions that will address future business challenges."

Over the past year, Paychex has added several new payroll features to its comprehensive HCM platform Paychex Flex^®. These additions include:

• Paychex Pre-Check, which allows employees to preview their paycheck on a device of their choice to confirm its accuracy before payday.
• Compensation Summary Reports, which allows employees to view their compensation, including health insurance contributions, retirement contributions, bonuses, and other benefits.
• Diversity and Equal Pay Live Report, which builds on the company's recently released EEO-1 compliance solution to enable administrators to analyze pay and diversity data.
• Paychex Flex Labor Cost Hub, which offers customers and CPAs a holistic view of payroll labor job cost and labor distribution to highlight the long-term impact of pay decisions.

These new features help drive payroll efficiency for business leaders with varying needs, whether they are HR managers charged with recruiting and retaining talent or business managers looking to save time with administrative tasks. Employees can also benefit from the flexibility of payroll solutions within Paychex Flex^®.

Attendees of the 2022 HR Technology Conference & Expo, September 13-16, in Las Vegas can stop by the Paychex booth (#3410) to learn more about how Paychex HCM solutions, including payroll, work in conjunction with support from industry-leading HR coaches and best-in-class service to deliver a superior customer experience. Paychex experts will also present two in-person educational sessions during the conference highlighting the technology solutions available for today's HR professionals and how businesses can make decisions with HR analytics and reporting. For a complete overview of how to connect with Paychex at HR Tech, visit https://pages.paychex.com/HR-Tech-Fall-2022.

About NelsonHall

NelsonHall is the leading global analyst firm dedicated to helping organizations understand the 'art of the possible' in digital operations transformation. NelsonHall provides buy-side organizations with detailed, critical information on markets and vendors (including NEAT assessments) that helps them make fast and highly informed sourcing decisions. And for vendors, NelsonHall provides deep knowledge of market dynamics and user requirements to help them hone their go-to-market strategies. NelsonHall's research is based on rigorous, all-original research, and is widely respected for the quality, depth, and insight of its analysis.

About Paychex  

Paychex, Inc. (NASDAQ: PAYX) is a leading provider of integrated human capital management solutions for human resources, payroll, benefits, and insurance services. By combining innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers business owners to focus on the growth and management of their business. Backed by 50 years of industry expertise, Paychex serves more than 730,000 payroll clients as of May 31, 2022 in the U.S. and Europe, and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting www.paychex.com and stay connected on Twitter and LinkedIn. 

Media Contact 
Chelsea Wernick
Public Relations Program Manager II
Paychex, Inc. 
(585) 217-6343 
cwernick@paychex.com   
@Paychex 

 

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SOURCE Paychex, Inc.

FAQ

What recognition did Paychex receive in September 2022?

Paychex was named a "Leader" in the 2022 NelsonHall Vendor Evaluation and Assessment Tool (NEAT) report for payroll service providers.

How many clients does Paychex serve?

As of May 31, 2022, Paychex serves more than 730,000 payroll clients.

What are some new features introduced by Paychex?

New features include Paychex Pre-Check, Compensation Summary Reports, and Diversity and Equal Pay Live Report.

How many times has Paychex received the "Leader" designation from NelsonHall?

This is the sixth consecutive time that Paychex has been recognized as a "Leader" by NelsonHall.

What criteria did NelsonHall use to evaluate Paychex?

NelsonHall evaluated vendors based on their ability to deliver immediate client benefits and meet future requirements.