New product quickly identifies potential employee payroll errors, reducing time delays and costs associated with manual audits and correcting mistakes. 

DailyPay’s mission to create a new, friction-free financial system took a big step forward with the announcement of its new Payroll Anomaly Manager (PAM), which leverages its award-winning, first-of-its-kind technology platform to save U.S. businesses potentially millions of dollars in costs due to common employee payment errors. The announcement was made today at the American Payroll Association’s Congress Xstream. 

“The Payroll Anomaly Manager exemplifies our dedication to creating meaningful product solutions that speak to regulatory compliance and accuracy for payroll professionals,” said Bhuvana Raghunathan, head of enterprise product at DailyPay.

The Payroll Anomaly Manager provides payroll teams the ability to track key employee payment data sets in real time and automatically catch anomalies in payments, helping to ensure an accurate and secure payday.

Manually detecting employee payment anomalies is time-consuming for payroll professionals. Even when errors are caught in time, correcting the problem could slow down the process of paying employees. DailyPay’s latest technology enhancement uses machine learning and artificial intelligence to analyze historical data patterns and detect changes that may be problematic. The Payroll Anomaly Manager will flag a range of potential issues, including duplicate payments to employees, major changes in net payment amounts, and employees who are on the roster who are being paid and shouldn’t be — the infamous “ghost” employee problem.   

The Payroll Anomaly Manager will be made available at no cost to all employers using DailyPay’s gold-standard on-demand pay solution. 

DailyPay ensures money is always in the right place at the right time in a variety of ways, with products that include CYCLE, a streamlined off-cycle payment solution, and REWARD, which facilitates employee recognition through spot awards.
 
About DailyPay 
DailyPay, powered by its industry-leading technology platform, is on a mission to build a new financial system. Partnering with America’s best-in-class employers, including Dollar Tree, Berkshire Hathaway and Adecco, DailyPay is the recognized gold-standard in on-demand pay. Through its massive data network, proprietary funding model and connections into over 6,000 endpoints in the banking system, DailyPay works to ensure that money is always in the right place at the right time for employers, merchants and financial institutions. DailyPay is building technology and the mindset to reimagine the way money moves, from the moment work starts. DailyPay is headquartered in New York City, with operations based in Minneapolis. For more information, visit www.dailypay.com/press

Contact: Sehrish Sayani
Email: press@trydailypay.com
Website: dailypay.com