What is Namely and how does it work?
Namely is an all-in-one Human Capital Management (HCM) platform designed specifically for mid-sized businesses with 25-1,000 employees. Founded in 2012, the cloud-based platform combines HR, payroll, benefits, and talent management into a single, social media-inspired interface that employees actually want to use.
The platform operates as a unified system that eliminates data silos between HR functions. It processes over $10 billion in annual payroll, manages benefits administration, handles compliance across multiple states, and provides real-time workforce analytics. With its open API architecture and 50+ pre-built integrations, Namely serves as the central hub for all people-related data and processes.
Core Capabilities:
Payroll & Time Management: Automated payroll processing, multi-state compliance, time tracking
Benefits Administration: Open enrollment, carrier connections, benefits benchmarking
HR & Compliance: Employee records, handbook management, State Comparison Tool for multi-state operations
Performance Management: Continuous feedback, goal tracking, 360-degree reviews
Benefits of Integrating Namely with Abacum
• Sync employee headcount, compensation data, and benefits costs directly from Namely to Abacum for accurate workforce planning and budgeting
• Automate the flow of payroll expenses, departmental allocations, and cost center data into financial forecasts without manual data entry
• Enable real-time scenario planning by connecting actual HR costs with financial projections, supporting better decision-making around hiring and compensation
• Eliminate spreadsheet-based reconciliation between HR and finance systems through API-based data synchronization
• Track and forecast benefits expenses, payroll taxes, and other employee-related costs with automatic updates from Namely's comprehensive payroll engine
• Support multi-state and multi-entity financial planning with Namely's jurisdiction-specific compliance and tax data flowing seamlessly into Abacum
• Accelerate month-end close processes by automatically importing payroll journal entries and accruals from Namely into your financial planning workflows
• Create unified dashboards combining workforce metrics with financial KPIs, providing executives with holistic views of organizational performance and labor efficiency
