Technology is far more than a tool for the management of Paychex Business Solutions (PBS). Without technology, Paychex would not exist as the company it is today. Indeed, like in many businesses today, the personal computer (PC) has become a necessity (Regan & O'Conner, 2002). By performing automatic calculations for complicated payroll formulas and maintaining an electronic database, technology reduces human errors and centralizes information. In addition, Electronic Funds Transfers (EFTs) allow customers to electronically receive their paychecks immediately into their bank accounts. However, there are ways in which Paychex management could improve the current use of technology such as interfacing existing programs and eliminating double entry.
Examples of Technology Uses at PaychexThere are many ways technology is used at Paychex. Like many businesses, technologies such as electronic mail, advanced phone systems, fax machines, and electronic data are integral to everyday business. However, there are other uses of technology specific to the payroll business.
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The National Bank, Oamaru, built 1871: a prostyle ...Automatic CalculationsPerhaps the most useful application of technology at Paychex, the automatic calculations performed by various computer programs save both time and money. Often, in calculations involving taxation, the process is simply too complex and leaves many opportunities for human error if done manually (Christian, 2006). The Human Resource Information Systems (HRIS) program used by Paychex handles many complex benefits calculations. In addition, the proprietary payroll program performs many automated calculations for payroll such as city, state, and federal taxes, wage garnishments, and other deductions for customers all over the country (Paychex Premier, 2007). By embracing technology for such calculations, management has made the task more accurate and quicker than manual calculations.
DatabaseAnother area in which Paychex depends heavily on technology, the maintenance of a vast customer database is crucial to everyday operations. Information regarding a client's employees is often needed at...