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Paychex unveils wearable tech, teases products for 2020

ByRanica Arrowsmith
October 10, 2019 4:56 PM

HR and payroll solutions provider Paychex introduced several new products this month, including a smartwatch plug-in for Flex Time users. Some of the new products make use of artificial intelligence software and GPS functionality to push payroll technology into the high-tech arena, and some will be fully launched next year.

“The future of HR will be about personalizing the work experience for individuals,” said Tom Hammond, Paychex vice president of corporate strategy and product management, in a statement. “In today’s fast-paced environment, HR professionals are doing everything they can to drive productivity, contribute to company strategy, and engage employees who are both self-sufficient and afforded the flexibility they need to be successful.

“Employers need to be investing in technologies today that will meet the evolving needs of employees – from how and when they want to be paid to where they physically do their jobs and what solutions and tools augment their work,” Hammond added. “We are thrilled to be at the industry’s leading technology-focused tradeshow to showcase our latest solutions, which we feel position Paychex customers for future growth and enable them to better compete in a historically tight labor market.”

The new solutions are as follows:

Paychex office

Smartwatch solution

Paychex Flex Time users can now track time worked via their smartwatch, the first in a growing list of use cases that Paychex states it will be making available to Paychex Flex users in the future. Current functionality includes clocking in and out for a shift, a break and meals with a simple tap of the smartwatch. With users’ permission to use GPS location services, employers can also deploy geofencing capabilities, making the time and attendance tracking process easier for an increasingly remote workforce and reducing the chance of time fraud. Geofencing is a process by which a geographic perimeter is established for location-enabled devices, and the technology in use will only engage users within that perimeter.

Pay-on-demand

By the end of 2019, Paychex customers will be able to grant access to earned wages before a scheduled payday with a new pay-on-demand solution. For customers who use this product, employees can request access to a portion of earned pay before the scheduled pay date and, with employer approval, funds will be deposited into — and accessible from — a third-party account rather than directly into a traditional bank account.

Paychex Flex intelligence engine

Paychex Flex Assistant, the company’s customer service chatbot, has been further developed by Paychex. Users who need help completing a task within Paychex Flex can use Flex Assistant, which uses artificial intelligence, to find an answer. The app adjusts to users’ learning preferences whether they be primarily a verbal, visual or physical learner. The bot also offers written how-to documents, tutorial-style video vignettes and guided interactive tours with in-app, step-by-step messaging. A live Paychex agent can also be reached from within the app if needed.

Real-time payments

Beginning in early 2020, Paychex customers will have the ability to deposit earned wages directly into employees’ bank accounts immediately through a real-time payment network rail.

Paychex integrations

Also beginning in 2020, Paychex will introduce several new cloud integrations with popular HR, accounting, point-of-sale and productivity applications on the market today.
Ranica Arrowsmith
Technology Editor, Accounting Today
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