We’ve all been there: you’re at dinner, maybe with some coworkers or friends and family, and you can’t decide what you’re gonna get. You’re stuck between two options, and they both sound equally good. You go around the table asking everyone else what they’re getting, and everything they say also sounds really good. You don’t want to find yourself in a situation where the server’s going around the table getting everyone’s order, slowly making their way to you. Suddenly, it’s your turn, and you’re stumped. And now it’s even harder because how is anyone supposed to make a decision while the server and everyone else at the table are looking at you? If you’re a business owner and you’ve been trying to find a payroll provider, it’s likely that you might be feeling a similar way. With so many options and with so many different opinions on which is best, it may feel like you’re stuck between twenty different menu items, and it’s your turn to order.
If this is you, don’t worry—at Payday HCM, we understand this kind of stress (the stress of choosing between payroll providers, mainly, but also the stress of ordering at a restaurant). We’ve had plenty of current and potential clients express their frustration over the difficulty of this process and how overwhelming the whole thing can be. We want to be able to take a little bit of weight off the shoulders of those who are currently going through this process, regardless of whether you choose to become a client or not. Now, if you’re in the throes of the research process (and, well, if you’ve read the title of this article), it’s likely you’ve come across two different names: Payday HCM and PrismHR.
So, in this article, we’ll be comparing the services of Payday HCM and PrismHR in order to help you have a better understanding of which is better for your business. For this article, we’ll be covering four main components:
We’ll be aiming to provide you with a broad-strokes view of how these two HR service bureaus compare to one another so that you can get one step closer to finding that right fit. Let’s get into it.
Payday HCM vs. PrismHR: Payroll Services
First up, payroll. We’ll start by going over how Payday HCM’s and PrismHR’s payroll services compare to one another.
PrismHR Payroll Services
While HR may be the name, payroll is still an element to PrismHR’s game. PrismHR is equipped to handle the entirety of your business’s payroll needs, from regular payroll processing to tax filing. With PrismHR’s proprietary payroll and HR software, you can customize your payroll process to accommodate things like direct deposit and deductions.
PrismHR’s payroll platform allows for easy scalability, making it a good option for larger, established businesses with current or future plans for expansion. The scalability and customizability of PrismHR’s payroll platform can help to alleviate some of the more tedious aspects of payroll processing.
Payday HCM Payroll Services
With Payday HCM, you can expect timely and accurate payroll processing while working with a payroll expert dedicated to you and your business. Payday’s payroll services are equally all-inclusive, providing you with payroll processing, tax filing, and time keeping, all while maintaining compliance with any local or national laws.
Payday is partnered with isolved to bring clients a powerful, easy-to-use platform that includes payroll processing as well as other HR functions. Payday also offers other add-on services that help to round out their payroll services while offering additional benefits to your business, including earned wage access and expense management.
Payday HCM vs. PrismHR: HR and Benefits Services
Next up, benefits administration and human resources management. We’ll cover both Payday HCM’s and PrismHR’s offerings.
PrismHR HR and Benefits Services
PrismHR’s human resources management through its PrismHR software allows you to perform essential HR and supervisory functions—including scheduling, timesheet approval, and manage employee documents—through the same software that you run payroll through. Their enhanced modules add functionalities for things like HR compliance and onboarding.
PrismHR’s benefits administration platform can also help to streamline your benefits processes by taking advantage of its PrismHR software. PrismHR’s software gives you the ability to manage things like a 401(k) or flexible spending account in one place, while streamlining enrollment with features like mobile-friendly benefits enrollment.
Payday HCM HR and Benefits Services
Payday’s HR services provide you with all the functions of an in-house HR department, including HR consultation, hiring, training programs and online learning courses, as well as compliance assistance and handbook creation. Our team of HR experts is ready to handle any HR-related question, whether that be by the hour or through our retainer service.
Payday’s benefits administration allows you to create a benefits package that is beneficial not only to those within your organization but to your budget as well. From your standard health insurance plans and retirement options to various ancillary benefits like health savings accounts and wellness programs, our benefits experts help you ensure you’re getting the best fit for your business.
Payday HCM vs. PrismHR: Customer Support and Experience
Now that we’ve gone over the different service offerings from both Payday HCM and PrismHR, we’ll dive a bit deeper into the customer experience of working with both providers.
PrismHR Customer Support and Experience
PrismHR provides a large amount of online resources to help assist their clients with any questions or concerns that may arise, empowering them with the answers they need when they need them. PrismHR has three different support portals for HR, HCM, and talent management customers, with dedicated online resources for each.
On the HR front, PrismHR’s compliance chatbot utilizes the power of AI to provide customers with compliance assistance within the PrismHR software platform. PrismHR’s website also contains a number of other resources, including a blog as well as a resource center that can help clients and non-clients alike.
Payday HCM Customer Support and Experience
Payday HCM’s customer support platform largely revolves around providing support over the phone, through email, or in person for local clients. Each Payday client receives a designated customer service representative who will get to know the ins and outs of their business as to better assist them whenever any questions arise.
Since Payday is partnered with isolved, clients and their representatives will also have access to isolved’s robust support network, providing around-the-clock assistance with any software questions that they may have. Payday also has a learning center on their website, which can help businesses find the answers to any general questions they may have.
Payday HCM vs. PrismHR: Pricing
Now that we understand the full scope of both Payday HCM’s and PrismHR’s services, we can finally go into how pricing varies between the two service bureaus.
PrismHR Pricing
While PrismHR’s pricing information isn’t available on their website, there are some indications as to which features are included with some of their more general service offerings, like payroll or HR, and which are add-ons available at an additional cost. Businesses that are considering PrismHR—typically larger organizations looking for the ability to easily scale in the future—should contact PrismHR for more pricing information.
PrismHR does offer its PrismHR marketplace, which gives clients and potential clients the ability to view different add-on services to the PrismHR platform through a variety of third-party providers. This includes things like background checks, financial wellness services, and earned wage access.
Payday HCM Pricing
With Payday HCM’s pricing platform, you’ll be able to pick and choose which services you and your business need while leaving out the ones you don’t. Our payroll, HR, and benefits services are all available with a variety of different tiers and add-on services while still offering the same level of customer support with each tier.
For payroll services, our Core tier starts at $7.20 per employee per month, with an additional $110 per month. Our Core With Time tier starts at $9.60 per employee per month, with an additional $133 per month. Given the customizability of our HR and benefits offerings, it is best to schedule a meeting with one of our experts to learn more about their specific pricing.
Get Back to the Heart of Your Organization
While ordering your dinner may feel stressful, there’s nothing that can be more disappointing than knowing you made the wrong decision. Here you are, plate empty but still feeling hungry, kicking yourself for making a hasty decision amidst the stress of the moment. Choosing the right HCM provider is no different: it’s a stressful process, but it’s one that, at the end of the day, is important and is made with the best interest of your business in mind. If not, you may find yourself not only still stressed, but disappointed as well. With the information provided here in this article, we hope that you can feel a bit more comfortable in approaching this decision and have the knowledge to take the next step toward finding that right fit.
Running a business is all about making decisions. At the heart of those decisions is always the best interest of the business and all the people involved in running it, regardless of how big or small the decision may be. Regardless of whether you’re considering being a client of ours, we want to ensure that you make the decision that is right for you and your business. If you want to learn more about Payday’s payroll, HR, and benefits services, you can schedule a meeting with one of our payroll experts who can help find the right solution for you.
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