| WebPay by Paylocity |
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| Written by Brian Tankersley CPA.CITP | |||
| Wednesday, 29 April 2009 03:06 | |||
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WebPay by Paylocity is a strong system with look, feel, and functionality more like a traditional ERP system payroll module than a web-based payroll application. Although WebPay can be used for any sized company, because of its very strong functionality and the numerous options available, WebPay is a better fit for companies with 50 to 500 employees, and will support up to 5,000 workers. WebPay really shines in its ability to be customized to meet the needs of individual customers. While this means the application necessarily requires more setup and training than simplified offerings like Intuit Online Payroll, it also means that once configured, Paylocity can meet needs in diverse areas such as human resources, regulatory compliance (e.g. OSHA, HIPAA, etc.). The service includes a web-based report writer for custom reporting needs, and multiple levels which allows users to see the assigned names of custom fields instead of the database names (e.g. "Spouse" instead of "Custom4"). Users can assign up to 40 custom fields to assist them in managing specialized information. The Human Resources functions support HR document management, exports to over 40 different 401(k) plan providers, and supports export to providers of almost any imaginable benefit plan. Web portals are created for each employee, and custom content such as benefits forms, etc. can be populated on the portal in addition to paystubs and Forms W-2. WebPay is sold using a direct sales model through a field sales force, and is a great fit for mid-sized and large organizations that need extensive integration with internal and external systems, as well as sophisticated reporting and human resources content.
Key Features:
Figure 16 - The Time Entry Grid in WebPay by Paylocity • Role-based security with advanced features such as marking fields for encryption for HIPAA compliance. | |||
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About the Author: Brett Owens is CEO and Co-Founder of Chrometa, a Sacramento, Calif.-based provider of software that records activity in real time. Previously marketed to the legal community, Chrometa is branching out to accounting prospects; gains include the ability to discover previously undocumented billable time, save time on billing reconciliation and improve personal productivity. Brett is also blogger and founder at CommodityBullMarket.com and ContraryInvesting.com, as well as a regular contributor to two leading financial media sites, SeekingAlpha.com and BeforeItsNews.com. |