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Payday HCM vs. Paylocity: 4 Comparisons of Payroll Services

May 6th, 2024 | 4 min. read

By Kristi Feist

Navigating the complexities of payroll services can often feel stressful for many businesses. The stakes involve the timely and accurate payment of wages and compliance with evolving tax laws and regulations. The task becomes even more daunting when companies aim to find a service provider that aligns with their needs and balances cost, efficiency, and comprehensiveness.

Enter the expertise of the payroll service arena: Payday HCM. With years of experience in payroll and a deep understanding of the nuances of human capital management, we offer knowledge the answers you seek. But how do you decide which service is right for your business?

This article will give you a clear, concise comparison between Payday HCM and Paylocity, focusing on four critical areas: service offering, user experience, customization and flexibility, and cost considerations. By delineating the strengths and specialties of each, we will empower you with the knowledge to make an informed decision that addresses your immediate payroll needs and strategies. Let's dive into what makes each provider stand out and how they can transform your payroll by showing you these four comparisons:

  • Cost Considerations When Making Your Choice
  • User Experience with Both Payroll Providers
  • Customization and Flexibility for Your Company
  • What are the Services Offered

#1: Cost Considerations When Making Your Choice

Understanding Payday HCM's Pricing Structure

When it comes to cost, Payday HCM emphasizes transparency and value. Its pricing structure is designed to be straightforward, with a clear delineation of services and associated fees. This approach allows businesses to understand precisely what they are paying for and select the best services for their needs.

Pricing: Starting at Payroll Essentials: $51.50 + $3.37 per EE per processing

 

Evaluating Paylocity's Investment Value

Paylocity, on the other hand, positions itself as an investment in efficiency and innovation. While its pricing may reflect the advanced technology and comprehensive suite of services, businesses may find that the time and resources saved through automation and self-service capabilities justify the investment. The cost-effectiveness of Paylocity's services is often seen in the long-term benefits of streamlined processes and reduced administrative overhead.

Pricing: Starting at Payroll Essentials: $136.51 + $11.11 PEPM (Includes HR & Payroll, Employee Engagement, Talent Management, Time & Labor)

#2: User Experience with Both Payroll Providers

The Intuitive Nature of Payday HCM

Payday HCM's platform is designed with the end-user in mind. Partnered with isolved, we ensure that navigation is intuitive and that support is readily available. The emphasis on customer service is a significant advantage for businesses that may need more payroll processing experience or those looking for a more hands-on approach. This focus on user experience extends to the comprehensive training and support provided, ensuring that businesses can maximize the benefits of the service.

Paylocity's Focus on Automation and Efficiency

Paylocity, meanwhile, highlights efficiency and automation. Its platform is geared towards minimizing manual input and maximizing accuracy through sophisticated algorithms and integrations with other business systems. The user experience is streamlined for both administrators and employees, with a clear emphasis on accessibility and self-service capabilities. This approach can significantly reduce the time and effort required to manage payroll and HR processes.

#3: Customization and Flexibility for Your Company

Payday HCM's Tailored Solutions

One of the standout features of Payday HCM is its ability to offer tailored solutions to meet the specific needs of each business. This flexibility ensures that whether a company is looking for basic payroll processing or a full suite of HCM services, Payday HCM can adapt its offerings accordingly. This level of customization is particularly beneficial for businesses with unique structures or complex payroll requirements.

Screenshot 2024-05-06 at 11.28.16 AM

Paylocity's Scalable Services

Similarly, Paylocity provides scalable services that can grow with a business. Paylocity's platform is designed to accommodate various business sizes and complexities, from small startups to large enterprises. Its modular design means companies can select the services they need and add more as they grow, ensuring that the payroll and HR solutions remain aligned with business needs.

#4: What are the Services Offered

Payday HCM's Comprehensive Approach

Payday HCM stands out for its comprehensive payroll and HCM approach. Catering to businesses of various sizes, Payday HCM offers personalized services that extend beyond payroll processing. This includes HR support, benefits administration, and compliance assistance, ensuring that businesses process payroll efficiently and manage their human resources effectively. Integrating these services allows for a more cohesive management experience, reducing the administrative burden on businesses.

Paylocity's Technology-Driven Solutions

On the other hand, Paylocity prides itself on its technology-driven solutions that emphasize automation and user-friendly interfaces. Known for its cloud-based platform, Paylocity offers tools to facilitate payroll processing, time tracking, talent management, and employee engagement. Its focus on innovation is evident in features such as mobile access and self-service portals, which empower employees to manage their information and interact directly with various HR processes.

Making the Right Choice for Your Payroll

Remember your business's core needs and challenges when selecting the ideal payroll service provider. Each organization has its unique requirements, from handling payroll structures to the desire for a user-friendly, technologically advanced platform. The choice between Payday HCM and Paylocity is not about selecting a service but about finding a partner that aligns with your business's vision and operational needs.

Understand that Payday HCM and Paylocity offer distinct advantages tailored to different types of businesses. Payday HCM shines with its personalized service and comprehensive approach, making it an excellent match for businesses seeking a close partnership and extensive support across payroll and HR functions. Paylocity, with its strong emphasis on technology and automation, is ideal for companies looking forward to streamlining their processes with cutting-edge solutions and a self-service model that empowers employees.

For your next steps, businesses should consider conducting a detailed assessment of their current and future needs. This might include outlining their payroll requirements, HR challenges, and the level of support they anticipate needing. Engage with representatives from both Payday HCM and Paylocity to discuss these needs in detail and request demonstrations of their platforms. It’s also prudent to consult with other businesses similar to yours that have made this choice before, as their insights could be invaluable.

Ultimately, the decision between Payday HCM and Paylocity will depend on which provider offers the services that best match your business's payroll and HR management goals. By carefully considering your options and taking proactive steps to evaluate each service, you'll be well-positioned to make a choice that not only resolves your current pain points but also propels your business forward. Read how Payday HCM can be a payroll solution for you.

Kristi Feist

As a seasoned veteran in the industry and with Payday HCM, Kristi maintains a 1000+ client portfolio with a 98% retention rate. As Vice President of the DSO Division, Kristi works with hundreds of DSO-like companies to adopt best practices around the use of payroll technology, implementing processes and empowering employees of DSOs to use the technology.

Topics:

Payroll