Majority of Small Business Owners See Value in HR and Regulatory Guidance from Trusted Advisors such as CPAs
NEW YORK (Sept. 7, 2016) – CPA.com and Paychex today announced an expanded program to help CPAs broaden their advisory role in human resources, an area that’s becoming increasingly difficult for small and medium-sized businesses to manage.
Businesses need the help, according to a survey of small business owners conducted this spring by Paychex. Some 44 percent of respondents agreed it was increasingly difficult to manage HR, twice as many as those who said it was not. And 61 percent said they would find it valuable if their existing trusted advisor –accountant, attorney or other consultant – offered additional guidance on HR and regulatory compliance.
CPA firms, meanwhile, are eager to broaden their role with clients, according to research from CPA.com. Developing new offerings that expand the value CPAs provide to existing clients was the top priority for firms in last year’s CPA.com Innovation in Public Accounting Survey.
Reflecting these trends, the Paychex Partner Program is designed to grow a CPA’s relationship with clients seeking guidance in payroll, retirement benefits, and now, thanks to the expanded program, human resource services. Through the program, CPAs refer clients to partner with Paychex, one of the country’s leading providers of HR and human capital management solutions, solidifying the accountants’ role as expert advisor and creating more strategic, higher-revenue consultation opportunities for CPAs.
CPAs who enroll in the program can offer their clients a suite of best-in-class services, including access to Paychex’s cloud-based platform, which integrates different offerings such as payroll, employee time and attendance, HR applications and benefits administration.
Additionally, CPAs and clients can connect to a host of flexible reporting tools to create comprehensive, customizable reports. CPAs and clients also enjoy anytime access to data and personnel information through industry leading mobile applications.
“From health care reform to new overtime rules to changes in the minimum wage, the HR landscape is evolving at a rapid pace,” said Andy Childs, Paychex’s vice president of marketing. “Keeping up with regulations requires expert guidance, and the Paychex Partner Program puts one of the most trusted advisors – CPAs – in the best position to serve clients.”
“Payroll, retirement and human resource administration are key components in the value equation of client accounting services,” said Erik Asgeirsson, president and CEO of CPA.com. “With the expansion of the Paychex Partner Program, we’re helping CPA firms move further into the advisory space, which we expect to be a growth area going forward.”
Paychex was the first member of CPA.com’s Partner Solutions lineup, and the two companies have a successful, decade-long partnership that designates Paychex as the preferred payroll, HR, and retirement services provider for AICPA members and their clients.
For more information about the Paychex Partner Program, visit www.cpa.com/paychex.
About CPA.com
CPA.com empowers CPAs and businesses for the digital age. The company offers a growing list of digital products and services that help firms succeed in practice management, client advisory services and professional development.
CPA.com is a subsidiary of the AICPA, the world's largest member organization representing the accounting profession. The company has its headquarters in New York City and offices in Silicon Valley, Calif., Dexter, Mich., and Durham, N.C. For more information, visit CPA.com.
About Paychex
Paychex, Inc. (NASDAQ: PAYX) is a leading provider of integrated human capital management solutions for payroll, HR, retirement, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by 45 years of industry expertise, Paychex serves approximately 605,000 payroll clients across more than 100 locations and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting www.paychex.com, and stay connected on Twitter and LinkedIn.
