Factorial Announces Partnership with Cimplx to Enhance Payroll and Benefits Management
The partnership will provide an integrated payroll and benefits management solution
MIAMI, Dec. 14, 2023 /PRNewswire/ -- Factorial, a leading provider of human resources software solutions, today announced its partnership with Cimplx, a provider of human resources and Affordable Care Act (ACA) cloud-based compliance solutions. The pair joins forces to provide a comprehensive suite of payroll and benefits management services to their HR customers via Factorial's unified platform.
According to Factorial Co-Founder and CEO, Jordi Romero, "We are excited about our partnership with Cimplx, as it enables us to offer our customers a comprehensive, integrated solution that handles employee data, time tracking, deductions, payroll, and benefits management. We aim to empower businesses with the tools they need to navigate the complexities of HR and compliance effortlessly."
The integration allows all data collected in the platform to automatically inform employee payroll, including time tracking, and ensures accurate compensation. Additionally, it secures employee data, such as bank details, tax deductions, and salary information, as well as supplements and deductions, such as bonus allocations, expense reimbursements, and benefits deductions.
Factorial and Cimplx shared the key benefits of their integrated solution:
- Compliance and Security : Achieve payroll accuracy with real-time tax regulations, mitigating risks associated with errors. Enhance data security with robust features, ensuring sensitive employee information remains secure and compliant with privacy regulations.
- Time Efficiency : Save time by automating manual payroll tasks and empower your workforce with self-service options, reducing the workload and fostering employee independence.
- Customization : Enjoy an integrated approach to human capital management and tailor solutions to your unique needs, eliminating the constraints of one-size-fits-all solutions.
- Industry Expertise : Gain valuable insights into payroll costs, trends, and compliance metrics through our team's industry expertise, including certified payroll professionals and experienced benefits administration enrollment services.
"We recognize the evolving needs of businesses in managing their workforce. Teaming up with Factorial allows us to offer a holistic solution that combines our expertise in compliance with their advanced HR platform," said Stephen Schram, COO and President of Cimplx.