Paycor Debuts New Features to Streamline Payroll Process

Rhea-AI Summary

Paycor HCM, Inc. (Nasdaq: PYCR) announced the launch of two innovative payroll features: Payroll AutoRun and Intelligent Tax Recommendations, designed to alleviate the administrative challenges associated with payroll processing. These enhancements automate payroll tasks, allowing HR leaders to focus on strategic employee development. The features include automated scheduling for payroll runs and intelligent tax setup recommendations based on employee locations, thus improving accuracy and efficiency in payroll management. These features are now available to all Paycor users.

Positive

• Introduction of Payroll AutoRun allows for automated payroll processing, reducing manual tasks for HR.
• Intelligent Tax Recommendations improve accuracy and compliance by automating tax-related setups based on employee location.
• Enhancements improve overall efficiency in payroll management, allowing HR leaders to focus on strategic initiatives.

Negative

• None.

New Payroll AutoRun and Intelligent Tax Recommendations enables HR leaders and administrators to automate and optimize time-consuming processes

CINCINNATI, Aug. 4, 2022 /PRNewswire/ -- Paycor HCM, Inc. ("Paycor") (Nasdaq: PYCR), a leading provider of human capital management (HCM) software, today announced the release of two new payroll features, Payroll AutoRun and Intelligent Tax Recommendations. These new product enhancements will help relieve the administrative burden of processing payroll, allowing HR leaders to spend time on more strategic business and employee-focused tasks such as retaining and developing their employees.

Companies are now experiencing geographically dispersed employees unlike ever before, which can be difficult for navigating various state qualifications for taxes and payroll. Helping customers manage these complexities and challenges has never been more important. Paycor's new features help take the guesswork out of the payroll process, helping to process payments both efficiently and accurately, no matter where an employee is located.

"Historically, across nearly all industries, payroll has been a time-consuming and tedious process for HR and administrators. It is also often a process done manually, which can lead to errors and confusion," said Ryan Bergstrom, Chief Product Officer at Paycor. "These new products help automate the process, taking a serious burden off the shoulders of HR leaders and, with the addition of mobile app capabilities, leaders can access and process payroll with a few clicks adding to the overall ease."

Key features of the new solutions include:

• Payroll AutoRun
• Enables HR leaders and administrators to set a schedule to automatically run payroll.
• Keeps leaders informed along the way with updates in the Paycor mobile app
• Intelligent Tax Recommendations
• Reduces the amount of time to research which taxes need set up for each situation
• Makes recommendations for each employee based on where the person lives and works
• Compliance dashboard alerts leaders to missing information and potential problems

Payroll AutoRun and Intelligent Tax Recommendations are available to all Paycor users. To learn more about all the product features, visit https://www.paycor.com/hcm-software/payroll-software/.

About Paycor

Paycor's human capital management (HCM) platform modernizes every aspect of people management, from recruiting, onboarding and payroll to career development and retention, but what really sets us apart is our focus on leaders. For more than 30 years we've been listening to and partnering with leaders, so we know what they need: a unified HR platform, easy integration with third party apps, powerful analytics, talent development software, and configurable technology that supports specific industry needs. That's why more than 29,000 customers trust Paycor to help them solve problems and achieve their goals.

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SOURCE Paycor

FAQ

What are the new features launched by Paycor (PYCR) to streamline payroll?

Paycor launched Payroll AutoRun and Intelligent Tax Recommendations to automate payroll processes and improve efficiency.

How does Payroll AutoRun benefit HR leaders?

Payroll AutoRun allows HR leaders to automate payroll tasks, freeing up time for strategic business and employee-focused activities.

When were the new payroll features announced by Paycor?

The new payroll features were announced on August 4, 2022.

What is the purpose of Intelligent Tax Recommendations by Paycor?

Intelligent Tax Recommendations reduce the time needed for tax setup and provide compliance alerts based on employee locations.