Paylocity Launches WebPay, a Faster, Smarter Online Payroll System

Elk Grove Village, Illinois – June 26, 2006 – Do your employees spend hours laboring over each and every payroll? Is your company still handing out paper pay stubs? If so, your firm may not be utilizing the latest technology, states payroll expert Steven Sarowitz.

Sarowitz is president of Paylocity, the nation’s leading independent payroll service. His firm just launched WebPay, a revolutionary payroll system that saves employers time and money, while slashing paperwork and errors. WebPay also helps companies comply with Department of Labor and IRS regulations by tracking critical information and seamlessly integrates with many retirement plan, general ledger, and time and attendance applications.

WebPay, an online system, also performs a number of tasks that others can’t.

For starters, while many programs can execute gross-to-net and net-to-gross payroll calculations, WebPay also calculates the value of fringe benefits—an enormous timesaver during hectic year-end wrap-ups.

It also streamlines routine processing time. Most programs require administrators to open each employee’s individual record when entering each payroll. WebPay’s unique QuickPay SM feature allows administrators to view employee records on a single screen, then edit only those needed.

And base pay rate adjustment errors are now a thing of the past because WebPay features a breakthrough adjustment calculator. Simply enter the percentage change or increased dollar amount, and it’s automatically calculated. You can even schedule the change to occur at a future date.

Says Sarowitz, “Many employers keep duplicate databases: one for payroll and one for human resource records. It’s a huge waste—and it’s completely unnecessary.”

That’s because WebPay offers a completely integrated human resource module. Employers can use WebPay for nearly any HR task – from tracking benefits to performance reviews, and even include employee biographies and photos—a plus for security-minded employers. WebPay also offers 40 additional fields that can be customized for each client.

WebPay supports the automated file transfer capabilities that Paylocity has developed with many of the nation’s leading benefit and administrative service providers. Clients select the retirement plan vendor of their choice and Paylocity can streamline their administrative processes by transferring the necessary data to that provider. Through interfaces with a variety of accounting software packages such as QuickBooks, Peachtree, Great Plains, and Activant, WebPay clients can reduce their manual processes, without having to manage multiple databases, perform numerous data transfers or pledge their administrative future to a single service provider.

And of course, WebPay offers comprehensive reporting, as well as a leading Employee Self Service (ESS) feature, which eliminates the need to print and distribute costly pay stubs. Instead, employees log on to a secure website to view their direct deposits.

If an employer chooses, employees can even edit their HR information, direct deposit arrangements, and tax exemptions. They can also view their accrued time-off and retrieve W2 forms, taking the burden off busy HR departments. If companies do not want their employees editing their own demographic information, a Manager Self Service option is available, which allows employees to view their information, without performing edits.

Traditional ESS systems only support a single browser, which means employees working on a MAC can’t access their payroll website. However, WebPay works with multiple browsers, so employees can log on from nearly any computer.

So how come WebPay is so much more advanced than other hosted payroll systems? Because Paylocity developed WebPay from the ground up. It’s entirely new. Most other web-based payroll systems aren’t, despite the way they are touted.

Many online systems are merely a “new front end” tacked on to older mainframe or PC-based programs. Sometimes, the service provider has cobbled four or five separate, older programs together and marketed them as a “single-source” solution. As a result, information has to flow back and forth from one end to the other, slowing things down and making processes more complicated.

“There’s no question in my mind that this is the best payroll and HR product ever created on a Microsoft .NET platform,” asserts Sarowitz.

In less than a decade, Sarowitz has taken his company from a three-person start-up to a leading U.S. independent service provider. His company made the Inc. 500 list of fastest-growing private companies for two consecutive years. For the past 2 years, Paylocity has been named one of the Chicago area’s “101 Best and Brightest Companies to Work For” by the National Association for Business Resources (NABR).

Paylocity twice received the Payroll Service of the Year Award from the Independent Payroll Providers Association (IPPA). And CIO Chuck Cooper—who was instrumental in developing WebPay—was recently named one of Microsoft’s “Top 120 Software Architects.”

“If you’re a white-collar company and you’re not streamlining your payroll process,” says Sarowitz, “It’s time to get started. The payroll industry is entering a new era—and you don’t want to be left behind.”