Oklahoma City-based company Paycom unveiled a first-of-its-kind payroll software.
The company rolled out new technology called “Beti,” or Better Employee Transaction Interface. It allows employees to do their own payroll.
Paycom said employees already manage other aspects of their paycheck including timecards, expenses and benefits. The company thinks this is the next step in a natural progression.
Paycom's Director of Government and Community Affairs A.J. Griffin said this has been in the works for a little while.
“We've tested it, launched it internally, and now, we've had some of our clients that have done the pilot project,” she said. “We are hearing back from those clients that this is the most innovative thing that they have seen in the payroll industry ever.”
While Paycom is first to the market with this technology, the company thinks this is the future of the industry.
The purpose behind the software is to allow workers to ensure the accuracy of their own checks.
It's also meant to free up human resource representatives to focus on bigger picture strategy and initiatives.
“If you think about how many steps an HR employee could have been doing to process payroll, this definitely cuts down on those steps and allows HR to contribute at a higher level to the company,” Griffin said.
When it comes to oversight, Griffin said the employee has the greatest interest in making sure their paycheck is accurate. They can also reach out to a Paycom representative if they run into trouble in the process.
Beti is available only to Paycom clients, and the company thinks they will use it.