Finch

Today's employment landscape is fragmented and complex. However, the future promises greater connectivity and integration among top players in HR tech, benefits, and fintech. The Finch team is thrilled to announce the launch of our inaugural Open Employment Ecosystem Market Map. This map features 225 companies across 15 categories and offers a comprehensive view of the open employment ecosystem. "Companies today use many applications to manage their workforce, leaving critical employee data scattered across systems of record and point solutions. While companies continue to choose best-of-breed tools for their specific needs, the lack of connectivity between these systems is a huge challenge—especially to and from payroll systems," said Alex Tran, Manager Director at General Catalyst.  "The vision of an Open Employment Ecosystem where data flows seamlessly is the primary reason we backed the Finch team, and we’re thrilled to see the first version of their market map feature other General Catalyst portfolio companies such as Awardco, Factorial, Gusto and Thatch." Whether you’re an employment application, payroll provider, investor, or just curious, check out our detailed map here: https://lnkd.in/e6RyTyUm  #HRtech #HR

Struggling to keep your HR and payroll systems in sync? Manual processes and constant updates are draining your resources. It’s even more frustrating when it disrupts your workflow and accuracy. Finch lets you connect any HRIS or payroll system to your app, powering workforce insights and automation. ✔️ 𝗦𝘁𝗮𝘆 𝘂𝗽𝗱𝗮𝘁𝗲𝗱: Never miss a new hire, address change, or termination with daily or weekly updates on company, directory, individual, and employment data. ✔️ 𝗦𝘁𝗿𝗲𝗮𝗺𝗹𝗶𝗻𝗲 𝗼𝗻𝗯𝗼𝗮𝗿𝗱𝗶𝗻𝗴: Access basic company info on the employers you serve. ✔️ 𝗠𝗼𝗻𝗶𝘁𝗼𝗿 𝗰𝗵𝗮𝗻𝗴𝗲𝘀: Get notified when employees join or leave and create org charts with a centralized view. ✔️ 𝗦𝗲𝗰𝘂𝗿𝗲 𝗱𝗮𝘁𝗮 𝘀𝘆𝗻𝗰: Help users securely manage employee information across systems. ✔️ 𝗧𝗿𝗮𝗰𝗸 𝗲𝗺𝗽𝗹𝗼𝘆𝗲𝗲 𝗹𝗶𝗳𝗲𝗰𝘆𝗰𝗹𝗲𝘀: Monitor job and income data throughout each employee's journey.

Access to payroll data is crucial for improving plan management and optimizing the user experience for recordkeepers. Forward-thinking recordkeepers are leveraging API-based payroll integrations to fetch data directly from sponsors' payroll systems, eliminating manual steps. API integrations offer several benefits: ✔️ Simplifying sponsor onboarding and auto-enrollment ✔️ Reducing administrative hassle for sponsors ✔️ Automating routine tasks ✔️ Easing compliance Here are 5 ways API integrations can optimize the 401(k) plan sponsor experience.

Building and maintaining 1:1 integrations can be incredibly costly. Our research shows that a single custom in-house integration typically costs over $187,000. In the fragmented payroll market, where the top three providers cover only about 45% of employers, companies often need dozens or even hundreds of these integrations to support all their customers, which is rarely cost-effective. Building 1:1 integrations is one thing—maintaining them is another. Even after they're built, these integrations need ongoing maintenance—including updates as and when required—which can be costly and resource-intensive. 💡 For businesses looking to simplify payroll integrations, Finch’s Unified Employment API streamlines connectivity across hundreds of payroll providers.

Dozens of new employer-sponsored benefits providers have emerged in the last few years with products that are: ✔️ Easier to use ✔️ More affordable ✔️ More scalable So what's the secret to their success? Technology. These providers have embraced HRIS and payroll integrations that power time- and cost-saving automation, rendering their products more efficient—and more profitable. In our latest white paper, we explore the convergence of factors that have made it easier for new providers to enter the employer-sponsored benefits market, and why they're positioned to revolutionize the industry. 🔗 https://lnkd.in/eVgEhTGU Inside, you'll find: ✦ The new employer-sponsored benefits on the rise ✦ How these providers are leveraging new technology to optimize their products for under-served markets ✦ The impact of technology on provider efficiency and employer affordability

Whether you're setting up payroll for your business, offering employee benefits through a SaaS tool, or an employee wanting clarity on paycheck adjustments, understanding the different types of payroll deductions is crucial. We explore: ✔️ Common payroll deductions ✔️ Their legal requirements  ✔️ Frequently asked questions. 💡 Plus, a bonus section for those in employee benefits explains how to adjust deductions seamlessly within the payroll system.

Who should use assisted integrations? Because the data is refreshed weekly, assisted integrations aren’t a fit for every use case. For time-sensitive tasks, like deprovisioning employee access upon termination, the weeklong period between data refreshes is too long. But for processes that require access to data that coincides with payroll cycles (like retirement deductions) or data that rarely changes (like employee birthday or anniversary rewards), assisted integrations can provide the same benefits as their automated counterparts. Here are five examples to give you an idea of the kind of use cases that can be powered by assisted integrations:

The Finch recently attended SHRM24 in Chicago, where we joined more than 26,000 HR professionals in exploring the current human resources landscape. We met with dozens of attendees to discuss all things HR tech, including accessing employer data from HRIS and payroll systems for use cases like: ➾Employee benefits ➾Engagement and learning ➾Accounting and financial forecasting 🔗💡 Below are our top takeaways—including the biggest insights from our survey of nearly 200 HR professionals.  https://lnkd.in/eg2htreS

Exciting news! Exactera is boosting its R&D tax credit services with enhanced automation, security, and efficiency by teaming with Finch! 👉 Read the full release to learn how this upgrade streamlines payroll data retrieval and gets you on the road to maximizing your tax credits: https://lnkd.in/gGzP_TjQ #RDTaxCredits #FinTechAutomation

Overwhelmed by juggling multiple HR software products daily? Almost half (49%) of HR professionals use seven or more different software products daily to manage their workforce. These systems often can't communicate, leading to data inconsistencies and manual updates, which complicates getting a comprehensive overview. 💡 Payroll integrations offer a better solution. By streamlining pay, updating retirement benefits, and managing enrollments and deductions efficiently, payroll integrations enable faster, more accurate workflows. Our guide dives into payroll integrations, exploring common use cases, benefits, challenges, and best practices for building and maintaining them. https://lnkd.in/eJEHPBWn