Paychex is Vendor of Merit in Domestic Payroll Buyers Guide

We are happy to share some insights about Paychex drawn from our latest market research, Ventana Research Buyers Guide: Domestic Payroll, which assesses how well vendors’ offerings meet buyers’ requirements.  

In all of our Buyers Guides, we utilize a structured research methodology called the Value Index that includes evaluation categories designed to reflect real-world criteria incorporated in a request for proposal (RFP) and vendor selection process. We evaluated Paychex and 10 other vendors in seven categories, five relevant to the product (adaptability, capability, manageability, reliability and usability) and two related to the vendor (TCO/ROI and vendor validation). 

Our analysis classified Paychex as a vendor of Merit, receiving an overall grade of B with a 66.4% performance. Paychex’s best grouped results came in Product Experience at 67.8% performance and a B grade due in part to its B++ in Usability. In Customer Experience, Paychex received a B- grade with a 60.1% performance due to its 57.1% performance in TCO/ROI.  

Paychex fully participated in the RFI process. 

Paychex’s B grade in Product Experience was impacted by its B- in Manageability where it could further invest into enhancing manageability. Customer Experience was impacted by its B- grade in TCO/ROI where it could be improved by adding methods to calculate cost of ownership.  

Paychex performed best in Product Experience with a B grade, notably in Usability, receiving a B++ due to its ability to increase productivity in the user experience. In Capability, had a B+ grade for their superior mobile experience. Paychex’s stable operating performance and low turnover within their leadership team led to its B in Validation. 

This assessment was based on Paychex Flex, released September 2023. 

This research-based guide is the most comprehensive assessment of the value of domestic payroll software in the industry. Technology buyers can learn more about how to use our Buyers Guide by clicking here and included vendors that wish to learn more can click here. Read the report here.