What is Paychex Flex and how does it work?

Paychex Flex is a comprehensive human capital management platform that unifies payroll, HR, benefits, and time tracking in one cloud-based solution. The integration with Abacum transforms workforce data into strategic financial insights, enabling finance teams to accurately forecast labor costs and optimize headcount planning.

Benefits of Integrating Paychex Flex with Abacum

• Sync payroll actuals and employee data directly into Abacum's planning models, eliminating manual data exports and reducing errors in workforce cost calculations

• Automate headcount planning by connecting real-time employee counts, compensation data, and benefits costs with financial forecasts and scenario models

• Build dynamic labor cost forecasts that automatically update based on actual payroll runs, overtime trends, and benefits utilization from Paychex Flex

• Create unified dashboards combining payroll metrics, departmental costs, and financial KPIs for comprehensive workforce analytics and reporting

• Enable real-time variance analysis between budgeted and actual labor costs, with drill-down capabilities to individual departments or cost centers

• Streamline month-end close by automatically reconciling payroll expenses in Abacum with processed payroll data from Paychex Flex

• Support multi-entity consolidation for businesses using Paychex Flex across different locations or subsidiaries, with automatic currency conversions and eliminations

• Accelerate scenario planning for workforce changes, instantly modeling the financial impact of hiring plans, compensation adjustments, or restructuring initiatives