Equifax Workforce Solution and Paycor Launch An Integrated Partnership To Automate Income and Employment Verification
Equifax and Paycor have announced an integration that makes The Work Number the exclusive provider of income and employment verifications for Paycor customers. This integration aims to streamline employment verification processes, allowing users to assist employees in critical situations, such as loan applications. The Work Number provides access to over 540 million employment records, enhancing operational efficiency for small businesses. Additionally, Paycor customers can leverage services for Employee Retention Credits worth up to $26,000 per employee.
- New integration with The Work Number enhances service offerings for Paycor customers.
- Streamlined verification process saves time and resources for HR functions.
- Access to Employee Retention Credit services potentially benefits business owners.
- None.
Integration Will Help Paycor Customers Realize Efficiencies by Enabling Automated Income and Employment Verifications through The Work NumberⓇ
ATLANTA and CINCINNATI, May 4, 2022 /PRNewswire/ -- Today, EquifaxⓇ (NYSE: EFX), a global data, analytics and technology company, and Paycor HCM Inc. ("Paycor") (Nasdaq: PYCR), a leading provider of human capital management (HCM) software, announced a new integration making The Work NumberⓇ the exclusive provider of income and employment verifications for Paycor. As a result, Paycor customers can now offer their employees the benefit of seamless verifications in support of important life events, such as applying for a loan or social services.
SHRM reports that 54 percent of small businesses handle HR and employment tasks themselves. HR and business leaders are often left managing a growing amount of administrative work – from identifying employee tax credits to fulfilling requests for verifications of employment or income when current or past employees are applying for financial services. With this new integration, Paycor customers can spend less time responding to requests from verifiers, saving time and resources for more strategic work.
"Paycor is helping its customers modernize people management at a time when HR is more vital than ever to businesses," said Matt Krenik, Alliance Director at Equifax Workforce Solutions. "This integration further expands the reach of The Work Number while enabling Paycor's customers and their employees to benefit from the fast and secure verifications that help keep life moving forward."
The Work Number is the industry-leading, centralized commercial repository of income and employment data in the United States, offering credentialed verifiers access to over 540 million active and historic records from 2.5 million employers. Powered by the Equifax CloudTM, its streamlined process provides the highest-class customer experience, quality, security and privacy.
"This new integration exemplifies our commitment to helping reduce business leaders administrative burden so they can focus on what matters, building winning teams," said Ryan Bergstrom, Chief Product Officer, Paycor. "The Work Number is well known as the industry standard for instant verifications of income and employment, and we are pleased to extend the many benefits of that leading service to our customers and their employees."
Paycor customers can also access Unemployment Cost Management and Work Opportunity Tax Credit (WOTC) solutions through Equifax Workforce Solutions and HIREtech, an Equifax company, on the Paycor Marketplace. Those solutions now also include Employee Retention Credit (ERC) services, which can help business owners determine eligibility for potential payroll tax credits – up to
Additional information on The Work Number service can be found here. Additional information on Paycor can be found here.
ABOUT EQUIFAX
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 13,000 employees worldwide, Equifax operates or has investments in 25 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.
ABOUT PAYCOR
Paycor creates Human Capital Management (HCM) software for leaders who want to make a difference. Our HCM platform modernizes every aspect of people management, from the way you recruit, onboard and develop people, to the way you pay and retain them. But what really sets us apart is our focus on business leaders. For 30 years, we've been listening to and partnering with leaders, so we know what they need: HR technology that saves time, powerful analytics that provide actionable insights and Personalized Support. That's why more than 29,000 customers trust Paycor to help them solve problems and achieve their goals.
View original content to download multimedia:https://www.prnewswire.com/news-releases/equifax-workforce-solution-and-paycor-launch-an-integrated-partnership-to-automate-income-and-employment-verification-301540190.html
SOURCE Paycor
FAQ
What is the new integration between Paycor and Equifax?
How does The Work Number benefit Paycor customers?
What is the potential value of Employee Retention Credits available to Paycor customers?
When was the Paycor and Equifax partnership announced?
What stock symbols are associated with Paycor and Equifax?
