ROSWELL, Ga., Oct. 29, 2018 /PRNewswire-PRWeb/ -- Today Apex HCM announced the latest publication in its ongoing white paper series about the payroll services industry and payroll software. This research paper entitled, "The New Revenue Engine for Payroll Service Bureaus" explores the growing trend of payroll bureaus broadening their customer offerings via enabling technology and providing access to human capital management (HCM) services.
Apex HCM CEO, Robert Digby commented, "As a career veteran of the payroll industry I have witnessed many changes over the years. But the acceleration of technology development and how service bureaus are leveraging technology to extend their business model is very exciting." Digby continued, "Seemingly every day we hear from our customers who talk about implementing new HCM services to their clients which has driven revenue growth and client retention."
"The New Revenue Engine for Payroll Service Bureaus" explores two trends rapidly gaining traction in the payroll industry. First, the trend of service bureaus adopting cloud-based software which provides employers direct access to manage their payroll data and employees' access to monitor their pay information. Second, the paper explores the trend of service bureaus offering a broad range of HCM services to bring value to clients and create additional revenue streams to the service bureau.
Marty Hamby, President, Apex HCM, reflected on these trends afoot in the payroll industry, "It's certainly an exciting time to be in the payroll services industry. Operators who are creative and growth minded are succeeding in dramatic fashion in terms of growing their businesses." The white paper is based largely on interviews with payroll service bureau operators some of whom shared their business growth stories in the report.
While the observation that technology triggers business change is certainly no unique phenomenon in the business world. However, the payroll services industry has historically lagged in adoption of technology and business model change. But, as this white paper highlights, the velocity of these current trends seems to dispel the notion of payroll service bureaus as old fashion businesses and indicates that many are in fact on the leading edge of innovation.
About Apex HCM
Apex® HCM is a market leader in cloud-based payroll and HR software technology and used by over 325 payroll service firms and vendors nationally. Apex's customizable suite of products and services include payroll, payroll tax, human capital management, applicant tracking and onboarding, time and attendance, reporting, manager and employee self-service, ACA compliance, mobile apps, workers' compensation, payroll debit cards and other business management tools normally reserved for large enterprises, now available to any business size. Apex's cutting-edge, cloud-based technology allows its customers to effectively compete feature-for-feature with larger established firms while dramatically improving their workforce productivity.
For information contact:
For more information, please visit https://apexhcm.com or call 877-750-APEX (2739).
SOURCE Apex HCM
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