Integration Will Help Paycor Customers Realize Efficiencies by Enabling Automated Income and Employment Verifications through The Work Number®
Equifax® (NYSE: EFX), a global data, analytics and technology company, and Paycor HCM Inc. (“Paycor”) (NASDAQ: PYCR), a leading provider of human capital management (HCM) software, have announced a new integration making The Work Number® the exclusive provider of income and employment verifications for Paycor. As a result, Paycor customers can now offer their employees the benefit of seamless verifications in support of important life events, such as applying for a loan or social services.
SHRM reports that 54 percent of small businesses handle HR and employment tasks themselves. HR and business leaders are often left managing a growing amount of administrative work – from identifying employee tax credits to fulfilling requests for verifications of employment or income when current or past employees are applying for financial services. With this new integration, Paycor customers can spend less time responding to requests from verifiers, saving time and resources for more strategic work.
“Paycor is helping its customers modernize people management at a time when HR is more vital than ever to businesses,” said Matt Krenik, Alliance Director at Equifax Workforce Solutions. “This integration further expands the reach of The Work Number while enabling Paycor’s customers and their employees to benefit from the fast and secure verifications that help keep life moving forward.”
The Work Number is the industry-leading, centralized commercial repository of income and employment data in the United States, offering credentialed verifiers access to over 540 million active and historic records from 2.5 million employers. Powered by the Equifax Cloud™, its streamlined process provides the highest-class customer experience, quality, security and privacy.
“This new integration exemplifies our commitment to helping reduce business leaders’ administrative burden so they can focus on what matters, building winning teams,” said Ryan Bergstrom, Chief Product Officer, Paycor. “The Work Number is well known as the industry standard for instant verifications of income and employment, and we are pleased to extend the many benefits of that leading service to our customers and their employees.”
Paycor customers can also access Unemployment Cost Management and Work Opportunity Tax Credit (WOTC) solutions through Equifax Workforce Solutions and HIREtech, an Equifax company, on the Paycor Marketplace. Those solutions now also include Employee Retention Credit (ERC) services, which can help business owners determine eligibility for potential payroll tax credits – up to $26,000 per employee – for retaining employees during the pandemic.
Paycor creates Human Capital Management (HCM) software for leaders who want to make a difference. Our HCM platform modernizes every aspect of people management, from the way you recruit, onboard and develop people, to the way you pay and retain them. But what really sets us apart is our focus on business leaders. For 30 years, we’ve been listening to and partnering with leaders, so we know what they need: HR technology that saves time, powerful analytics that provide actionable insights and Personalized Support. That’s why more than 29,000 customers trust Paycor to help them solve problems and achieve their goals.
Source: Equifax Press Release