Paycor is a cloud-based payroll software that currently serves over two million users across 40,000 different businesses. Paycor has a website login as well as a mobile app for on-the-go use. While Paycor is known for its payroll functionality, it also includes human capital management tools as part of its upgraded pricing plans.
On its website, Paycor publicizes four plans for small businesses with less than 50 employees, but does not disclose the pricing for each one. Businesses with more than 50 employees will also need to contact Paycor for a custom quote. A 14-day free trial is available so you can try before you buy.
Key features:
- Federal and state tax filing
- Automated payroll processing
- Custom reporting
- Time and attendance tools
- Expense management
- HCM tools for more advanced plans
Key features of Paycor
Payroll and tax features
Paycor’s payroll and tax features include federal and state tax filing, direct deposit, check stuffing, employee self-service and new hire filing. You can also set up the AutoRun feature to process payroll on a specific day and time even if you won’t be at the computer that day. All changes are made in real-time, so you don’t have to wait for calculations to process, which speeds up payroll.
Time management features
Time tracking is closely tied to payroll, and Paycor allows you to do both within the same system. The time management feature lets you track hours worked and manage time-off requests with automated timekeeping. Employees can clock in and out in the Paycor app, and the mobile app verifies location to prevent time theft when clocking in and out
HR and benefits features
If your HR department dreads open enrollment, Paycor’s more advanced plans can help streamline the process thanks to automated workflows. The platform also offers EDI connections that deliver enrollment data to nearly all major insurance carriers. Meanwhile, pay-as-you-go automatic insurance payments ensure that you stay on top of workers’ compensation throughout the year.
Reporting and analytics
Paycor’s analytics module lets you analyze the composition of your staff by age, gender and ethnicity. You can further sort the data by department, job type or location for additional insight. Users can also visualize and share this data by importing it to 30+ standard reporting templates or designing their own custom report. These analytics and reporting features help your team evaluate pay practices benchmarking against competitors and make strategic business decisions based on data.
Paycor pros
- Multiple paid plans to suit different budgets
- Unlimited payroll runs
- Automated payroll
- Custom reporting
- Self-service employee portal
- Mobile app
Paycor cons
- Pricing structure not transparent
- More expensive than many other payroll competitors
- Additional fees for certain payroll actions like check stuffing
- Lacks a few key integrations like QuickBooks
- Time tracking is an add-on
