CPA.com and Paychex have expanded their 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.
