Summary
This document is a Total Economic Impact™ study commissioned by Paycom and conducted by Forrester Consulting. It examines the potential benefits that organizations may achieve by implementing Paycom's cloud-based HR and payroll platform, including its latest product, Beti. The study provides a framework for evaluating the financial impact of these tools on enterprises. It details the experiences of five representatives from a composite organization, which consists of 2,500 employees across 70 U.S.-based locations. The findings indicate significant efficiency gains for payroll and HR teams, with reductions in time spent on manual tasks and errors. The study quantifies benefits such as a 90% reduction in time spent compiling payroll data and an 85% decrease in time spent correcting payroll errors, resulting in substantial cost savings. Additionally, it discusses unquantified benefits, including improved employee engagement and trust, as well as enhanced organizational knowledge about payroll and benefits. The document concludes with an analysis of costs associated with deploying Paycom.
