How many steps are involved in your payroll process? If you heard of a tool that made it feel like you could do payroll with a single click, would you be interested? That’s how one user described Paycom’s latest innovation, Beti®.
Beti, a first-of-its-kind technology, further automates and streamlines the payroll process by empowering employees to do payroll themselves, increasing efficiencies and accuracy. The HR vice president of an auto rental company with 350 employees stated, “Beti is the most revolutionary payroll product I’ve ever seen.”
Put simply, Beti puts payroll into the hands of employees, eliminating what used to be a multistep, imperfect and time-consuming process for HR and payroll professionals.
How Beti changes the game
Calculating and executing payroll has always occupied the top of HR’s to-do list, but Beti fundamentally changes payroll by putting the bulk of the data-verification needs right in the hands of the employees.
Why? Employees already manage all other components of their paychecks, including timecards, expenses, PTO requests and benefits; now they have the convenience within Paycom to process their own payroll, too. At the beginning of each scheduled payroll cycle, Beti automatically pulls live data on employee hours, approved expenses and any changes in compensation like fluctuations in 401(k) contributions, tax withholdings, benefit changes, promotions and more.
As Beti works, HR teams can monitor Beti’s status on a dashboard. The interface displays the progress of payroll tasks and a list of employees needing to provide approvals or to first supply missing information — from an absent time punch to a pending benefit enrollment.
Like Paycom’s other products, Beti operates seamlessly within our single software for comprehensive payroll and HR needs. This allows Beti the ability to direct employees to Ask Here™ in the event they have a question about their payroll they can’t resolve on their own or with Beti’s guidance.
“Beti takes an enormous amount of pressure off our payroll process because our team is not spending time correcting employee errors,” said the HR vice president of the auto rental company, a Paycom client.
Beti benefits employees
For more than two decades, Paycom’s driving purpose has been to connect employees with their own personal information to enter and manage, thus removing HR from that highly administrative data transfer process. Beti represents another leap forward in that effort. Staying true to this core mission, employees are further empowered to manage their own data as they process their own payrolls.
Businesses retain total control of the amount employees are paid because Beti does not allow employees to change their rate of pay. However, it does allow them to gain insight into their paychecks and view information like deductions, expense reimbursements and taxes, all before payroll ever runs. Having a clearer view of their compensation and how it’s calculated empowers employees to resolve any discrepancies before payroll submission, allowing them to plan their personal finances accordingly and helping make notifications of “insufficient funds” a thing of the past.
“Beti’s giving ownership of payroll to employees and managers, which is great because they know better than anyone what their paychecks should be,” said the COO and CHRO of a credit union, a Paycom client with 150 employees.
Beti also benefits employers
Employees aren’t the only beneficiaries of this innovative tool. Back in the days of manual processes, payroll was a multistep, time-consuming chore for HR departments. From its inception, Paycom’s online software has streamlined the process to make it easy for HR, and Beti provides the next step by allowing employees to do their own payroll.
“I’ve never seen another payroll product like Beti,” said the HR vice president of the car rental agency. “We love the payroll dashboard, the daily digests that go out to all managers and the ability to send notifications right from the dashboard. We can see warnings or errors before we even look at payroll.”
Increased visibility helps ensure greater accuracy and fewer steps in the payroll process. Any concerns or last-minute changes are taken care of before payout, resulting in lower fees for funding and payroll while also limiting the exposure to any payroll-related liabilities. While these advantages are in no way trivial, the real benefits emerge in the form of more time becoming available for HR and payroll professionals to pursue high-level, strategic initiatives to move organizations forward.
With Beti, the aforementioned car rental agency was able to reduce time spent on payroll by 50%! Are you ready to see what the future of payroll looks like in your organization? Visit our website to learn more about Beti.
