Infor, the industry cloud company, announced a new partnership with DailyPay, the Fintech focused on-demand pay, to offer its customers the ability to “provide employees with easy and quick access to their earned wages.”
Through this partnership, customers using Infor Workforce Management solutions can provide hourly employees “with same-day access to their pay, without disruptions and additional administrative tasks for payroll teams.”
This will help organizations remain competitive in “the ever-evolving employee landscape and support employees in the journey to achieve financial wellness, ultimately increasing employee retention.”
DailyPay’s technology platform enables employees “across multiple industries access to their earned pay before the traditional, scheduled payday.”
With an on-demand pay benefit, employers can “provide greater financial wellness support for employees, leading to happier and more productive teams.” DailyPay now integrates with existing Infor Workforce Management (WFM) systems, so customers “can instantly add this new feature for its teams.”
Jeff Moyer, chief revenue officer at DailyPay, said:
“Empowering employees with the access and control of their earned pay gives them greater financial control and makes them feel more supported and valued. Our research shows that companies can hire faster and retain employees longer when they offer DailyPay. Partnering with Infor, a leading technology provider, allows us to provide their customers with another extension to help improve bottom-line results, employee happiness and the overall employee experience.”
Specifically, DailyPay will receive time data “from Infor WFM so employees can access funds instantly based on their timecard details.”
This integration will allow employees “to access earned wages the same day they work a shift — improving the likelihood of filling needed shifts and giving organizations a competitive edge in their recruitment and retention efforts.”
Infor Workforce Management is a comprehensive and modern solution that helps organizations of all sizes strategically align labor management to corporate strategy — “to increase workforce efficiency, employee productivity and engagement.”
By adding this strong, easily integrated on-demand pay component, “the solution will deliver more tools to help leading organizations improve the employee experience in a time where hiring is difficult.”
Travis Hatmaker, senior vice president at Infor, said:
“Infor remains committed to always evolving our solutions as market trends dictate new challenges and needs. Partnering with DailyPay to offer enhanced options to suit changing employee circumstances was the right step in keeping our customers competitive in hiring and retaining the best staff.”
As noted in the update, DailyPay Inc., powered “by its industry-leading technology platform, is on a mission to build a new financial system for everyone.”