Paycom is an employee-driven online payroll service that helps you pay your employees on time, every time. Nothing stands between employees and their HR data, drastically transforming the way employees request invoices and how you send payments. With its management solutions and the ability to save you hours on payroll processing, Paycom is easily one of the better payroll services on the market today. Let’s find out if Paycom offers the right array of features and benefits for your needs.
Comparing Paycom to the Best Online Payroll Services
While Paycom didn’t make it onto our top list of online payroll services, it is still a solid all-in-one platform that offers integrated pay solutions and simple payroll data. Paycom can help you remain professional while giving your employees the freedom and trust to manage their own finances.
We reviewed dozens of online payroll services on the market and narrowed them down to the top seven. After looking at each option to see who it’s best for, what features to consider, and how to find the best option for your needs, we laid out the top picks in a single list. Want to scope out all of your options? See all of our top picks here.
Paycom: The Good and the Bad
After extensive research, we found that Paycom offers some excellent features but also holds a few drawbacks. Let’s take a deep dive into both sides of the spectrum so you can make the best decision.
All-in-one software: By far, the best aspect of Paycom is the fact that it is all-in-one payroll software. You don’t need to source additional software or tools for data analysis or tax responsibilities because Paycom handles all of it. The payroll service is at the core of Paycom, but it doesn’t stop there, as you can streamline your processes for expenses and garnishments too.
Guided self-service: The uniqueness of Paycom resides in its guided self-service system, Beti. Beti revolutionizes payroll services by allowing your employees to do their own payroll without interruption. With Paycom, your employees are already managing their timecards, benefits, expenses, and vacations, so Beti makes it easier to identify and resolve errors before payroll submission. Beti can help improve data accuracy, reduce employer liability, increase process oversight, and give employees the freedom and insight into their pay.
Not only will your employees have insight into their paychecks, any pay changes, and take-home payouts, but your business will also save time on data re-entry and save you money on payroll and funding fees and direct deposit reversals.
Integrated pay solution: If you want to eliminate the tedious task of check reconciliation after every payroll run, Paycom offers an integrated payment solution and bank reconciliation software that will lower your bank charges. Paycom Pay will help your employees who don’t use direct deposit by issuing paper checks and saves you from having to monitor every transaction. Paycom Pay will also notify you of any uncashed checks 180 days after issue and refund these back to your business.
This also allows you to reduce general ledger transactions and have your net payroll, taxes, and fees drafted from your account once per payroll. This integrated pay solution can give you peace of mind, knowing you can pay your employees on time.
Fast payroll data: Organize and manage your payroll data with Paycom’s general ledger software. You can simplify the accounting process with infinite mapping and present your data the way you want with customizable presentations. Create unlimited general ledger mapping across multiple sectors of your business and then generate perfectly mapped reports for direct import into your accounting software.
Paycom’s custom layouts let you manage files, eliminate errors, and control your data entirely. You can also see which user performed what action, preview your maps before reporting, and get notified when anyone makes changes to ensure consistent accuracy.
Expense and payroll tax management: You can efficiently manage expense reimbursement and limit your payroll tax responsibilities without the burden of using manual, paper-based processes. Paycom’s expense management software can provide the ability to upload or email photos of receipts, instant access to view transactions, comprehensive analytics, and proper allocation of expenses.
When it comes to tax management, Paycom helps you mitigate your responsibility for payroll tax, handles all of your IRS forms, and debits and deposits your payroll taxes on their due date. Paycom helps you manage your taxes in an easier way, especially by converting and balancing all your year-to-date payroll tax totals.
Advanced administration: You can reduce your company’s liability for wage garnishment by sending your order to Paycom. Garnishment management can help you mitigate the risk of entering orders incorrectly and removes the hassle of interpreting, entering, and responding to garnishment orders, even for multiple states. If you have trouble with time management, Paycom takes the guesswork out of tedious tasks like tracking and calculating by doing it all for you.
You don’t have to worry about reconciling payments or balancing all deductions every pay period when Paycom can take over. The garnishment management software can also administer and send all required payments and documentation to the correct authority, notify third-party payees of an employee status change, and send orders to employees through Paycom’s self-service application.
Long implementation process: There were a few recurring reviews regarding Paycom’s implementation process being too long and difficult. Configuring software should be easy, but unfortunately, this is where Paycom falls short. Many users found that implementing the software into their system took way too long, and many users actually found themselves stuck and needed to call support for help.
Although this is a downside to Paycom, it’s not all bad. Many users who needed help during the implementation process found it through friendly customer support or Paycom’s online documentation.
Difficult interface: Software should have an easy-to-use interface; otherwise it doesn’t really streamline your processes at all and actually makes things more difficult. Paycom has a tricky interface to navigate and it takes some users between a couple of hours to a couple of days to figure out how to work the system. However, there is an FAQ section on Paycom’s website that answers frequently asked questions about logging in and navigating the interface.
Paycom Pricing and Options
Paycom doesn’t disclose its pricing on its website. You will need to request a meeting for additional information. However, after doing some research, we found a few estimated prices that were corroborated by user reviews.
Here’s a quick overview of what we found:
- Base Pricing — Between $4 and $6 per employee/paycheck
- Initial Setup Fee — Between $500 and $1,200
Paycom offers a pay-as-you-go model, and after requesting a meeting, you should expect to work with Paycom’s sales team to determine what parts of its platform are right for you and your business.
Online payroll services usually base payment plans on the size of your business and how many employees you want on the system.
Paycom HR Management
Automate your HR processes in a single software with Paycom’s comprehensive HR system. Save time and money with tracking and reporting tools and let Paycom help you comply with state and federal regulations.
Paycom’s HR management software helps your business adhere to regulations and avoid the costs that come with manual processes. Some included tools cover government and compliance, personnel action forms, documents and checklists, enhanced ACA, and COBRA administration.
This customizable software can help you keep your data secure and maximize your ROI on HR tech. You can do this through tools such as Direct Data Exchange, which manages efficiencies, focuses on strategy, and offers unrivaled reporting that leads to more accurate and real-time data.
Elevate your employees’ engagement with Paycom surveys and unique tools, like Ask Here, which helps you give your employees the answers they need without managing the entire process.
Utilizing Paycom’s HR management software will completely transform and simplify your processes. You can use Paycom’s Manager-on-the-Go tool, which allows you to complete essential managerial tasks through a convenient mobile app. The tool also comes with a desktop version that offers additional functionality for increased performance.
What makes Paycom’s HR management software even better is the ability to generate and review customizable reports and data in the Report Center. Paycom’s report center saves you the hassle of writing recurring reports and gives you real-time analytics and immediate insight into HR, payroll, and audit reports.
Some other nifty features include:
- Benefits administration
- 401(k) reporting
- Clue (for employee vaccination and testing)
You will have to request a meeting with Paycom’s sales team for pricing inquiries.
Paycom Talent Acquisition
If you need comprehensive software to help you hire and onboard your employees, Paycom’s talent acquisition software is the perfect place to start. With automated features and processes, Paycom can help you exercise due diligence and ensure compliance.
Streamline your recruiting and hiring process with Paycom’s applicant tracking and verification system. You will never lose track of top talent applications again, and you can verify employment eligibility with just a few clicks.
Paycom’s applicant tracking feature lets you post open positions to job boards and view all candidate information, while allowing candidates to set preferred interview times. You can also conduct and track all conversations, send customizable offer letters, and make hiring decisions with a click of a button.
With Paycom’s E-Verify system, new hires can quickly fill out the l-9 form, which saves you from re-entering data. The best part is that all reports are securely stored and backed up, requiring no additional effort from you.
Once you’ve decided to hire your dream candidate, you can fast-track this process through Paycom’s comprehensive onboarding software. The onboarding software lets you send and request all the relevant information to your new hire, like the employee handbook, benefits enrollment, training courses, and forms.
Paycom’s talent acquisition software also comes with enhanced background checks, so you can have peace of mind immediately. The system offers a variety of drug testing and health screening services, plus:
- National criminal scan
- County criminal search
- Education verification
- Employment verification
And that’s not all—one of the last features Paycom’s talent acquisition software offers is the ability to reduce or even eliminate your federal tax income liability with its Tax Credits software. With this service, you may receive your share of federal tax credits, and you won’t have to pay a thing if Paycom finds you ineligible.
Just like the rest of Paycom’s products, you will need to request a meeting for all pricing information.
How Paycom Ranks
Even though Paycom doesn’t rank on our top list, we found that many users love the product because of its valuable features and comprehensive software. Paycom can give your employees the freedom to handle their own paychecks and give you the peace of mind that they are being paid on time.
Here is a short overview of the top online payroll services:
- Rippling – Best online payroll service for most
- Gusto – Best user interface for payroll
- QuickBooks – Best for knocking out payroll & accounting in one step
- ADP – Best for avoiding payroll growing pains
- Deluxe Payroll – Best way to attract more talent
- SurePayroll – Best worry-free guarantee for small business taxes
- Payroll4Free.com – Best feature-rich free-forever online payroll services
Overall, Paycom is an excellent online payroll service that can help most businesses organize and manage their payroll data. With additional product offerings like HR and talent acquisition management software, you are truly all set with Paycom.