ARLINGTON HEIGHTS, Ill., June 30, 2015 (GLOBE NEWSWIRE) -- Paylocity Holding Corporation (Nasdaq:PCTY), a cloud-based provider of payroll and human capital management software solutions, announced today the release of ACA Enhanced, a new compliance solution to help clients manage the reporting requirements of the Affordable Care Act (ACA).
Paylocity's ACA Enhanced solution will provide full compliance and reporting for the ACA. ACA Enhanced will automate form capture, preparation and filing of forms 1094-C and 1095-C. Advanced dashboards, reporting, alerts and notifications are also part of this robust compliance tool. The solution is available to all Paylocity clients and does not require Paylocity's Time and Labor or Benefits Administration module.
"ACA compliance is a huge concern for our clients and broker partners. We are proud to be leading the way with our ACA Enhanced solution. Our unique approach removes the burden of ACA reporting to the IRS while delivering intuitive ACA compliance tools integrated seamlessly with their payroll management," says Steve Beauchamp, Paylocity President & CEO.
The IRS estimates that preparers will spend an average of 12 minutes completing each 1095-C form (one per employee) and four hours completing form 1094-C. This poses a significant task for many small and mid-sized organizations. Paylocity's ACA Enhanced produces and files 1095-C forms and provides organizations with the data they need to remain in compliance.
Paylocity clients are encouraged to elect ACA Enhanced and take advantage of free available ACA training.
About Paylocity
Paylocity is a provider of cloud-based payroll and human capital management, or HCM, software solutions for medium-sized organizations. Paylocity's comprehensive and easy-to-use solutions enable its clients to manage their workforces more effectively. Paylocity's solutions help drive strategic human capital decision-making and improve employee engagement by enhancing the human resource, payroll and finance capabilities of its clients. For more information, visit www.paylocity.com.
Safe Harbor/forward looking statements
This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements about the functionality and benefits of human capital management software solutions generally as well as the functionality and benefits of Paylocity's human capital management software solutions. All statements, other than statements of historical facts, included herein regarding Paylocity's future operations, prospects, plans and objectives of management are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "will," "would," "seek" and similar expressions (or the negative of these terms) are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among other things, statements about management's beliefs, intentions or goals. Paylocity may not actually achieve the expectations disclosed in the forward-looking statements, and you should not place undue reliance on Paylocity's forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results or events to differ materially from the expectations disclosed in the forward-looking statements, including the risks associated with Paylocity developing and enhancing products and solutions with the functionality necessary to deliver the stated results and the risks associated with the implementation and maintenance of human capital management software solutions, such as Paylocity's human capital management software solutions. These forward-looking statements represent Paylocity's expectations as of the date of this press release. Subsequent events may cause these expectations to change, and Paylocity disclaims any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events or otherwise.