Payroll Integrations Inc. is a software as a service (SaaS) company that sits in between payroll providers and recordkeepers. Payroll Integrations acts as a data bridge between the two systems to cut down on the time plan sponsors spend downloading reports from payroll each pay period, formatting data into specs accepted by their recordkeeper, manually keying in census and contribution data on the recordkeeper's website, uploading files to recordkeepers, updating employee deferral rates and loan information in payroll, etc.
Payroll Integrations Inc. offers API-based 360 integrations at a low monthly cost. Payroll Integrations Inc. is partnered with many of the large payroll providers as well as about 50 different recordkeepers and growing.
The integration functions by pinging the payroll provider's API twice daily to look for any new, completed payrolls. Once a payroll is marked as complete in payroll, Payroll Integrations will extract census and contribution data from the API and format it into the recordkeepers' accepted file spec. The file will then be uploaded directly to the recordkeeper's system at which point the recordkeeper can begin funding contributions to participants' retirement accounts. Because Payroll Integrations checks for completed payrolls every day, contribution data is oftentimes sent over to the recordkeeper a day or two before the plan's actual pay day. This increases the efficiency of funding contributions, allowing participants' money to be deposited into their retirement account much sooner.
The integration will also send over census information each pay period. This means that any time a change is made to the census in payroll, that information will be uploaded to the recordkeeper along with employee and employer contributions. This includes new hires, terminations, rehires, address changes, marital status changes, contact information changes, etc. The integration will also include employee hours for any eligibility tracking a recordkeeper may be doing for a plan.
Payroll Integrations Inc. is able to support employee deferral changes and loan changes from recordkeeper to payroll provider through 360 integration for the vast majority of payroll providers we are partnered with (Paycom and UKG excluded). This means if a participant makes a change through their recordkeeper's portal, the recordkeeper will send that change to Payroll Integrations which will then be pushed back through the payroll provider's API and reflected in the employees pay profile. This helps avoid missed employee deferral and loan changes as well as avoids any errors from manually keying in changes.
The integration is fully automated and operates with a data in, data out approach. Payroll Integrations does not manually pull and manipulate data before uploading files to recordkeepers or payroll providers. This means that all data from payroll and recordkeeper will be transferred to each other as it is listed in their respective systems.
If you are interested in learning more about Payroll Integrations Inc., please reach out to sales@payrollintegrations.com to set up a meeting.