DailyPay Announces Partnership With InfoSync
NEW YORK, Dec. 17, 2019 /PRNewswire/ — DailyPay, the leading provider of the daily pay benefit — a benefit offered through employers that allows employees to receive instant access to their earned wages, today announced its partnership with InfoSync, a leading accounting, reporting and human resources outsourcing solution that principally serves restaurants and other multi-unit businesses. Through this strategic partnership, InfoSync client companies can offer their employees DailyPay at no additional cost to their organization and with no changes to their existing payroll setup.
This collaboration between the InfoSync and DailyPay teams resulted in an integration that enables the two platforms to share data seamlessly, to calculate the real-time available balance of employees that enroll in the program, and to facilitate the instant transfer of funds when requested by an employee. This partnership saves InfoSync customers time and effort when offering their employees best-in-class benefits.
“Our number one priority is and has always been the success of our clients,” said Dale Hoyer, CEO at InfoSync. “Any time we are able to save them time and money on overhead costs is a win. More importantly, this partnership will impact their employees directly by allowing them to be paid daily. DailyPay pairs seamlessly with our technology, so we are able to offer a beneficial service to our clients through a great partnership.”
Captain D’s, a U.S.-based chain of fast-casual restaurants, is currently offering its employees DailyPay in conjunction with InfoSync as its accounting and reporting platform. Ann Sizemore, SPHR, Vice President of Human Resources for Captain D’s, reported that the integration was seamless.
“We had no issues getting the two platforms to work with each other, and both the DailyPay and InfoSync teams were with us every step of the way,” Sizemore said. “Having data exchanged between the two platforms makes our lives much easier and gives us new analytical insights we can use to better inform HR decisions.”
As time went on, Sizemore and her team saw a 72% reduction in employee turnover, making the turnover rate 66% lower in beta test locations than in locations not using DailyPay.
With DailyPay, employees can transfer their accrued but unpaid wages to any bank account or pay card, prior to their next payday. Employees can also track their accumulated earnings during each pay period using the available balance feature. In this way, DailyPay provides employees with a safeguard against unexpected expenses, and an incentive to work scheduled or even additional shifts to increase their available earned balance.
“Employee-centric benefits, that focus on employee wellbeing and help to build a more productive and engaged workforce are proven to increase retention and engagement. InfoSync is laser-focused on bringing innovative solutions to the restaurant industry and other multi-unit businesses,” Jason Lee, CEO of DailyPay, said. “Our partnership allows InfoSync to offer the daily pay benefit to all of its clients, a benefit that has proven employee attraction, retention and engagement results. We’re proud to partner with InfoSync to offer their expansive client portfolio a flexible, simple and compliant daily pay benefit.”
DailyPay is the only instant pay technology that is fully compliant in all 50 states and can be implemented at no cost to businesses that choose to offer it.
About Daily Pay
DailyPay, the leading provider of the daily pay benefit — a benefit offered through employers that allows employees to receive instant access to their earned wages, works across a wide range of industries, including quick service restaurants, hospitality, retail, healthcare and other services. One in six Americans now has access to DailyPay through our trusted payroll service partners, including ADP, Paycor, Alight, SmartLinx, Netspend and other HR and payroll technology providers, who offer the daily pay product to their customers.
With DailyPay, employees can pay bills on time and avoid late fees, helping them to reach their financial goals. Companies have reported that DailyPay increases employee engagement and retention and helps to support recruitment. DailyPay is backed by leading venture capital firms and world-class strategic investors. The company is headquartered in New York