BROOKFIELD, Wis. and ROCHESTER, N.Y., Dec. 23, 2020 /PRNewswire/ -- Business owners using the popular Clover® platform from Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, are now able to streamline payroll and time & attendance management with Paychex, Inc. (NASDAQ: PAYX), a leading provider of HR, payroll, benefits, and insurance solutions.
Small business retailers using Clover integrated with Paychex Flex®, now available through the Clover App Market, can more efficiently manage the essential tasks of payroll, staffing, time tracking, and scheduling while helping save time, increase accuracy, and reduce cost.
The Paychex app for Clover provides small business owners with payroll and time & attendance solutions within a single application. The app enables employees to punch in and out from Clover point of sale devices to the Paychex Flex platform, arming merchants with sophisticated functionality and business insights like an employee status board, absent notifications, and labor cost control through time management tools.
This strategic alignment allows Clover retailers to join the more than 680,000 clients already leveraging the Paychex platform for HR, payroll, and benefits. This integration will increase cross-selling opportunities for both companies and significantly enhance the client experience for shared customers.
"The COVID-19 pandemic has illustrated how critical it is for businesses to continuously innovate and realize efficiencies at every turn. Paychex Flex offers a full suite of HR solutions, enabling our clients to integrate with essential business systems directly," said Tom Hammond, vice president, Corporate Strategy and Product Management at Paychex. "This relationship with Fiserv and Clover significantly streamlines employer operations, delivering a superior client experience and giving employees access to extensive self-service benefits. It also demonstrates our commitment to connect Paychex Flex users with critical business tools to make their time at work as productive as possible."
To help businesses remain as competitive as possible in this challenging business environment, Congress has passed the Federal Coronavirus Stimulus Package and Fiscal Budget. Pending presidential approval, the provisions of the legislation expand Paycheck Protection Program (PPP) relief, including extending loan forgiveness to cover, subject to certain specific limitations, expenses such as payroll and HR software, and other expenses essential to the operations of the business.
Paychex provides HR, payroll and time & attendance within a single integration, and its addition to the Clover App Market expands on an existing strategic relationship between the two firms.
"Small businesses are increasingly demonstrating a preference for the convenience and operational efficiencies associated with integrated capabilities, especially across best-of-breed fintech providers," said Christine Barry, Research Director at Aite Group. "A recent Aite Group survey of small businesses found that more than 85% describe a single entry-way, login and user interface for all major aspects of their business' money management as beneficial or extremely beneficial. The Clover and Paychex combination is helping small businesses achieve that goal."
Clover is a complete business-management platform enabling businesses to maximize their operating efficiencies and grow while allowing customers to pay using a debit or credit card or via mobile payment options such as Apple Pay®, Samsung Pay®, and Google Pay®. More than one million Clover devices are distributed globally, processing more than $130 billion in annualized payment volume.
"Our strategic relationship with Paychex aligns Clover with another market-leader in small business solutions and will bring tangible benefit to our Clover clients," said Devin McGranahan, senior group president of Global Business Solutions at Fiserv. "The availability of value-added solutions through the Clover App Market differentiates Clover, helping small businesses simplify daily tasks and quickly add new capabilities that allow them to operate more efficiently and better serve their customers."
About Paychex Paychex, Inc. (NASDAQ: PAYX) is a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by more than 45 years of industry expertise, Paychex serves more than 680,000 payroll clients as of May 31, 2020 across more than 100 locations in the U.S. and Europe, and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting paychex.com and stay connected on Twitter and LinkedIn.
About Fiserv Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among FORTUNE World's Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.
Media Contacts Lisa Fleming Public Relations Manager Paychex, Inc. (585) 387-6402 [email protected]
Ann S. Cave Vice President, External Communications Fiserv, Inc. 678-325-9435 [email protected]