Sunday, April 14, 2024
CEOWORLD magazine - Latest - CEO Spotlight - Paycom CEO Chad Richison Calls Beti® Payroll Solution a “Paradigm Shift” and a Nucleus Research Study Reveals its Success

CEO Spotlight

Paycom CEO Chad Richison Calls Beti® Payroll Solution a “Paradigm Shift” and a Nucleus Research Study Reveals its Success

Chad Richison, Paycom Chief Executive Officer
Chad Richison, Paycom Chief Executive Officer

Paycom, the leading provider of comprehensive, cloud-based human capital management software, has announced compelling findings from a recent study conducted by Nucleus Research, a global provider of ROI-focused tech research and advisory services. The goal of this Nucleus study, commissioned by Paycom in December 2023, was to analyze the value derived from the use of Beti in conjunction with Paycom’s existing payroll capabilities. 

The study underscores the significant value organizations gain from Paycom’s revolutionary Beti payroll solution, an industry-first payroll experience that empowers employees to manage their payroll tasks independently, resulting in significant outcomes. Chad Richison, founder, chairman, and CEO of Paycom, commented on the transformative impact of Beti, stating, “Beti is a paradigm shift for the payroll industry, and the value of perfect payroll is showing tremendous ROI for our clients.” 

According to the study, organizations implementing Beti witnessed an impressive reduction of over 80% in payroll corrections, with some achieving error elimination entirely. The commissioned research identified three key benefits derived from Paycom’s single HR software featuring Beti: a decrease in errors, heightened payroll productivity, and enhanced employee engagement.

A prominent leader in the restaurant industry emphasized to Nucleus that the automation provided by Beti significantly reduced the time required for payroll processing. The customer stated, “Employee check errors went down, so employee engagement went up. It was a game changer.”

Nucleus Research found that payroll administrators using unautomated systems previously spent eight hours per 100 employees reconciling errors each pay period. With Paycom’s payroll solution, clients were able to reduce processing time by more than 90%. The study also revealed that organizations using Beti experienced up to 100% engagement from their end-users, showcasing the widespread adoption and effectiveness of the system.

Further details on the study can be accessed here

About Paycom

For 25 years, Paycom Software, Inc. (NYSE: PAYC) has been simplifying businesses and improving the lives of their employees through user-friendly HR and payroll technology. The industry-first Beti® solution empowers employees to manage their own payroll, identifying and addressing potential errors before submission. Paycom’s comprehensive software covers onboarding, benefits enrollment, talent management, and more, streamlining processes and providing employees with control over their HR information, all within a single app. Recognized nationally for its technology and workplace culture, Paycom now serves businesses of all sizes in the U.S. and internationally.

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CEOWORLD magazine - Latest - CEO Spotlight - Paycom CEO Chad Richison Calls Beti® Payroll Solution a “Paradigm Shift” and a Nucleus Research Study Reveals its Success
Despina Wilson
I am a senior editor and data journalist at CEOWORLD magazine. My job involves using infographics to report on news topics related to business and policy, with a global perspective. I hold a master's degree in journalism and have worked for newspapers and reporting projects in both the US and the UK, giving me a unique transatlantic perspective. I believe that data can enhance coverage of all news topics. As a contributor, I plan cover a wide range of issues, such as gender equality, climate change, labor, and immigration, using relevant statistics and insightful visualizations.