Paycom Payroll Review 2024: Features & Pricing

Table of Contents Table of Contents

1. Paycom Plans & Pricing
2. Paycom Payroll Overview
3. Standout Features
4. Integrations
5. Paycom Customer Reviews
6. What is Paycom Good For?
7. Paycom vs Top Competitors
8. Verdict - is Paycom Worth it?
9. How We Test Payroll Software
10. How to Choose the Best Payroll Software
11. FAQs

Show Full Guide

Table of Contents

1. Paycom Plans & Pricing
2. Paycom Payroll Overview
3. Standout Features
Show Full Guide
4. Integrations
5. Paycom Customer Reviews
6. What is Paycom Good For?
7. Paycom vs Top Competitors
8. Verdict - is Paycom Worth it?
9. How We Test Payroll Software
10. How to Choose the Best Payroll Software
11. FAQs

Paycom Plans & Pricing

Paycom is a unique platform with a wealth of capabilities spanning the entire HR function. Unfortunately, though, it doesn’t provide the cost of its solutions upfront. While this opaque pricing structure might be off-putting for some organizations, we’ve gathered that Paycom doesn’t publish its pricing because its platform is highly customizable.

With modular solutions for payroll, HR management, talent management and more, each customer can choose what features of Paycom they’d like to include in their plan, creating a bespoke solution.

Paycom is unique because of its self-service offering and Everday feature, which allows employees to claim wages daily instead of monthly. On top of that, Paycom also boasts a host of powerful HR and talent management features, making it an excellent choice for larger organizations looking to manage salaried and hourly workers in one holistic platform.

In that sense, publishing pricing structures doesn’t make sense for Paycom. Each and every customer will likely pay something slightly different depending on their needs, size, and geographical spread.

That said, our experience in reviewing payroll providers has taught us that opaque pricing usually relates to higher monthly fees, as is the case with ADP. Still, with the breadth and depth of features that Paycom offers, we understand why this service comes at a higher price point.

Paycom Payroll Overview

Standout Features

Paycom’s self-service offering certainly makes it stand out from the crowd. But that’s just the tip of the iceberg. Alongside its innovative payroll functionality, Paycom also comes with a range of powerful HR features that make talent management, workforce planning, and recruitment simple.

Over a month, we put Paycom to the test, exploring all of its features in-depth to help you understand whether the platform suits your needs.

Here’s a closer evaluation of Paycom’s payroll capabilities.

Payroll

Usually, preparing payroll falls into the hands of HR professionals–but that’s not the case with Paycom. This provider’s software solution, Beti, provides an employee-driven payroll experience, empowering your employees to do their own payroll from their desktops or Paycom’s mobile app.

While putting payroll in the hands of employees might make you nervous about errors and mistakes, Paycom’s offering is outstanding. When we logged in to the employee portal, we were impressed by the clean, intuitive interface. From the homepage, it was easy to check our hours, approve pay, and see our earnings over time.

For HR teams, too, Paycom’s software is simple to use–and full of powerful payroll automations that streamline tasks. For example, we liked that the Paycom platform sends automatic alerts when employee payroll has been submitted. The live data feed is also a nice touch, giving HR professionals insight into hours worked, expenses, and compensation amendments.

On top of that, Paycom can take care of garnishments and taxes on your behalf, making the entire payroll process a lot less stressful. Note, though, that these features are separate to Beti, and so are likely to cost additional fees.

Everyday

Paycom’s Everyday feature is another unique selling point that will appeal to larger organizations with seasonal or hourly employees. With this feature, your people can opt-in to be paid daily instead of each month.

But there’s a catch. To access this feature, your employees will need to sign up for Paycom’s Vault Visa card and, once they opt-in, they’ll be paid daily every day until they opt-out again.

On the plus side, there’s no activation fee or monthly fee to use the card. Moreover, we found activating the card to be a very simple process, only taking a few steps within the Paycom application.

All in all, we can see the advantages of offering this feature to employees, especially if you employ a number of individuals for temporary work or bank work. For companies with only salaried workers, though, this feature could be unnecessary.

Expense management

Paycom has also dipped its toe into the accounting game with its expense management and general ledger features, geared at helping accountants better understand and manage corporate finances.

With the expense feature, employees can quickly upload receipts via a photo. Paycom’s platform then uses machine learning to remove duplicates and automatically build in-depth expense reports.

On the employee side, we found uploading expenses to be very easy. However, on the HR side, we found the expense reports to be slightly overwhelming and confusing at first. Smaller organizations might not need this level of detail.

On top of that, we noticed that Paycom doesn’t integrate with accounting software providers such as QuickBooks or Xero like its competitors do. However, because the platform automatically transports expense and payroll information to a general ledger, this doesn’t really matter, as Paycom takes care of accounting for you.

Time and Attendance

For retailers, manufacturers are other organizations with hourly workers, Paycom’s time and attendance feature is excellent. Through this module, it’s quick and easy for employees to clock in and out of work–either through the Paycom app, badge-swiping, or hardware terminals–and all information is directly put through payroll on their behalf.

For large companies with dispersed, hourly workforces, this feature is game-changing, turning the manually intensive process of calculating time cards into a breeze.

On top of that, Paycom uses your time and attendance data to create helpful reports that give managers and HR professionals insights into labor costs, attendance, and shift preferences–all of which help to make schedule planning much easier.

Recruitment

It’s impossible to review Paycom payroll without also giving a nod to its talent management features, spanning recruitment and performance management. While you don’t automatically get access to these features when you use Paycom payroll, many organizations may decide to use Paycom as their complete talent management and HR solution.

Paycom’s recruitment solution, for example, is thoughtful from end to end. From the intuitive interface, you can quickly post job openings on hundreds of job boards, manage all applicant communications, conduct background checks, and use ready-to-go job offer templates to finalize the process.

For busy HR managers, we can certainly see the appeal of this feature. It makes recruitment simple and automated. On the central dashboard, you’ll get access to visual graphs that show which career sites attract the most talent, the number of views for a job posting, and the number of applicants–all of which is handy for enhancing recruitment efficiency.

Once you’ve hired new talent, Paycom also helps you manage your people through its performance management console. This aspect of the platform allows your managers and employees to input review information, set personal goals, and undertake sector-specific training courses, with courses across manufacturing, retail, and more.

While we think these features are excellent, they’re undeniably geared toward larger organizations and companies with complex structures. For small businesses, these features probably won’t be necessary.

Integrations

While payroll competitors like ADP and Gusto boast a wealth of integrations, Paycom has notably fewer options. In a way, we understand why. Paycom’s platform is feature-rich; it wants to be your one-stop shop for all things payroll and human capital management. Because of this, you don’t really need many integrations alongside the platform.

Still, if you’re a devout QuickBooks or Xero user, you might find it frustrating that you can’t import your historical data into Paycom.

Paycom Customer Reviews

Over the month we tested the Paycom platform, we were really impressed. This platform is powerful, with all the features established organizations–especially those with hourly workers–could need to streamline HR and payroll.

But we also wanted to see what real-life users had to say. So, we took to G2 and TrustRadius to gather more feedback.

On both websites, users praised Paycom for its ease of use and holistic approach. HR professionals were also very complimentary of the self-service portal, which has saved them a lot of time. The only major downside appears to be customer service, which some users found difficult to get a hold of.

What is Paycom Good For?

Paycom is a great option for established medium and large organizations looking for an all-in-one payroll and HR solution.

In particular, it’s an excellent option for organizations with hourly and seasonal workers. The innovative Everyday feature and self-service portal make the complex process of calculating shift wages seamless and automated, which will greatly appeal to retailers, manufacturers, and hospitality companies with lots of employees working different schedules.

Paycom vs Top Competitors

Paycom vs Rippling

While Paycom and Rippling both offer payroll functionality, the platforms are fundamentally different. Paycom is a human capital management platform. It makes paying, engaging, and recruiting employees easy and insight-driven.

Rippling, on the other hand, is what’s known as an enterprise resource planning platform. While it has some payroll and HR features, it doesn’t have the same depth of features as Paycom, with no Everyday feature or self-service payroll. However, Rippling’s platform is also broader, with capabilities spanning the IT, finance, and procurement functions.

Paycom vs SurePayroll

Paycom and SurePayroll target different audiences. Paycom is aimed at larger, multinational organizations, while SurePayroll is geared towards small businesses. Although they both have features for time tracking, benefits, and employee onboarding, Paycom boasts a lot more features in terms of talent management.

Paycom vs Deel

Paycom and Deel both offer powerful payroll and onboarding functionality. However, Deel is specifically designed to simplify the challenges of hiring, paying, and managing employees in other countries. While Paycom also enables you to manage your global workforce in-app, it only enables self-service payroll in the US, Canada, and Mexico at present.

If you’re a US-based company with offices in multiple states, this won’t be an issue. However, if you’re looking for a truly global payroll solution, Deel would be a better option.

Verdict – is Paycom Worth it?

We’ve been very impressed by Paycom’s innovative features and powerful reporting capabilities. While smaller businesses will likely find the platform has too many features for their needs, Paycom would undoubtedly be a huge asset to larger organizations with a mixture of hourly and salaried employees.

How We Test Payroll Software

In our evaluations of payroll providers, we meticulously examine various critical factors for success, including:

• Pricing – We conduct thorough price comparisons of payroll software against other prominent providers in the industry.
• Features – Our assessment delves into the offerings of each plan, scrutinizing essential functionalities like custom reporting, payroll automation, and tax filing services.
• Integrations – We scrutinize the integrations provided by each provider to gauge their support for information sharing and team efficiency.
• Automation – We rigorously test the automation capabilities of the platform, assessing factors such as ease-of-use, accuracy, and speed.
• Ease of use – Approaching each platform from the perspective of someone relatively new to payroll software, we provide candid insights into its user-friendliness.
• Third-party reviews – By juxtaposing our evaluations with third-party reviews, we aim to offer a comprehensive and cohesive perspective on the platform.

How to Choose the Best Payroll Software

Before you commit to a payroll software provider, you’ll want to make sure the platform meets all of your needs. Here are the key factors to consider:

• Price – Seek a platform that aligns with your budgetary expectations. Watch out for hidden fees or significant price jumps between different plans.
• Features – Assess whether the platform offers all the necessary features you require.
• Scalability – Determine if the platform can accommodate the growth of your business over time.
• Ease of use – Evaluate the user-friendliness of the platform. If training is necessary, inquire about free access to it.
• Integrations – Verify if the platform seamlessly integrates with other finance and HR applications you utilize.
• Customer Support – Consider whether the customer support options provided, such as phone, chat, or email, meet your requirements.

FAQs