XTM to Roll Out EWA Solution Across Canada
XTM Inc., a Fintech creator of payment innovations and mobile solutions geared specifically toward service industries, announced its plans to roll out the QRails AnyDay solution across Canada.
XTM’s definitive agreement to acquire earned wage access (EWA) provider QRails was announced in June. The combined entities will leverage their direct payroll integrations to enable clients with employees in Canada and the United States to deliver a unified EWA solution. According to the company, by leveraging XTM’s existing banking partners in Canada and migrating to QRails’ issuing and direct Mastercard processing platform, organizations will have access to a fully compliant, single source EWA North American solution.
“It is gratifying to see our roadmap coming to realization,” said Marilyn Schaffer, CEO, XTM. “As in any business, you are required to pivot at times. However, the goal remains to inspire today’s worker on their terms. Early Pay is proven to be a significant incentive to motivate, encourage, and support employees.”
Visit www.xtminc.com and www.anydayispayday.com for more information.
The 5 European Nations With the Most Complex Payroll
Alight, Inc., a cloud-based human capital technology and services provider, revealed the findings of the 2023 Alight Global Payroll Complexity Index (GPCI): Top 40 Countries for Payroll Complexity.
According to Alight’s research, the five countries with the highest degree of payroll complexity are the following:
- France
- Germany
- Switzerland
- Italy
- Canada
The GPCI notes that the top 10 most impacted countries are 29% more complex due to three key factors required in their payroll processes, which include: mandatory deductions, social security calculations, and types of government mandatory reporting. The study also demonstrates an increase in complexity among governments that have implemented new payroll requirements to support employees’ rights and wellbeing.
“Each country has unique payroll structures, regulations and requirements, making it increasingly difficult for multinational organizations to stay appraised of changing payroll regulations and evolving employee needs,” said Cesar Jelvez, Chief Professional Services and Global Payroll Officer at Alight. “Organizations that lack the agility to deliver an effective payroll process are at risk of reputational damage, payroll errors, non-compliance, and failures when it comes to ensuring employee wellbeing.”
Visit www.alight.com for more information.
NelsonHall Names Paychex a Leader in HCM Technology
NelsonHall, a global analyst and research firm, has again identified Paychex, Inc., a provider of human capital management (HCM) software solutions for HR, employee benefits, insurance services, and payroll across the United States and Europe, as a “Leader” in its 2023 NelsonHall Vendor Evaluation and Assessment Tool (NEAT) for Next Generation HCM Technology.
According to the company, the NEAT allows buyers to assess the capabilities of HCM vendors across a range of criteria and business situations to identify the best-performing vendors.
NelsonHall said it identified Paychex as a leader in the small and medium business (SMB) market space based on its ability to provide intuitive, all-in-one software and service for HR, payroll, and insurance.
“Paychex Flex (the company’s cloud-based SaaS solution) was designed as an all-in-one HCM solution to simplify the complexities of running a business with technology that enables productivity and optimization, allowing our customer base to focus on growing their businesses,” said Tom Hammond, Paychex Vice President of Corporate Strategy and Product Management. “It’s an honor to be recognized again by NelsonHall for delivering an innovative HCM technology that addresses the current needs of our customers, while also creating solutions for future HR and business challenges.”
Visit www.paychex.com for more information.