Finch

Today's employment landscape is fragmented and complex. However, the future promises greater connectivity and integration among top players in HR tech, benefits, and fintech. The Finch team is thrilled to announce the launch of our inaugural Open Employment Ecosystem Market Map. This map features 225 companies across 15 categories and offers a comprehensive view of the open employment ecosystem. "Companies today use many applications to manage their workforce, leaving critical employee data scattered across systems of record and point solutions. While companies continue to choose best-of-breed tools for their specific needs, the lack of connectivity between these systems is a huge challenge—especially to and from payroll systems," said Alex Tran, Manager Director at General Catalyst. ?"The vision of an Open Employment Ecosystem where data flows seamlessly is the primary reason we backed the Finch team, and we’re thrilled to see the first version of their market map feature other General Catalyst portfolio companies such as Awardco, Factorial, Gusto and Thatch." Whether you’re an employment application, payroll provider, investor, or just curious, check out our detailed map here: https://lnkd.in/e6RyTyUm ?#HRtech #HR

In today’s connected business environment, HRIS and payroll systems form the foundation of every thriving organization. They serve as the central hub for all HR and financial operations, managing everything from employee onboarding and salary changes to benefits administration. For any application that interacts with employee data, maintaining seamless connectivity with these systems of record is crucial. When HRIS and payroll data is updated, downstream systems must stay in sync to ensure accuracy and efficiency. The numbers speak for themselves: ? 97% of HR admins agree that employment system integrations are important. ? 84% say they're very important. Without these integrations, employers are left to manually update and maintain multiple systems, leading to wasted time, increased errors, and frustrated employees. Offering a seamless, integrated experience is essential. If your application doesn't support the necessary HRIS and payroll integrations, you risk losing potential customers and hindering your business growth.

I'll be in Orlando next week! If you're attending, reach out to me to connect. I'll be there supporting my clients Finch and Plan Notice

Here's a case study about the 401GO relationship with Finch. #401k #payroll #smb #integration #technology #partnership #businesspartnership https://lnkd.in/gwg_TJNB

As with everything: it starts in Sales. The modern tech stack demands seamless data flow. Point solutions, once valuable, now lose their luster without robust integrations. This is especially true in the sales cycle, impacting both prospect and seller. Jeremy Myers, former VP of Global Technology Services at Cornerstone OnDemand spoke with SaaS leaders across Sales and Service Delivery to understand the critical role integrations play. Their experiences, along with his own, reveal a clear consensus: ? The presence of key integrations, or the ability to build them, significantly advances deals. ? Conversely, the lack of essential integrations, or ignorance about them, can jeopardize deals. However, building these "deal-making" integrations presents a hurdle. ?? API integrations require significant upfront investment in time and resources, followed by ongoing maintenance. ?? Many integrations only benefit a few customers, making the ROI questionable. A strategic approach to integrations is essential for sales and Service Delivery teams to thrive in the cloud-based market. Leveraging emerging solutions like unified APIs could be the key to gaining a competitive edge. Jeremy explores integrations’ impact on B2B SaaS Sales.

At Finch we're often asked if we're an AI company. The answer is a definitive "no." While we leverage AI internally for efficiency, it's not a core component of our product. Here's why: 1. Customers don’t want it. Our customers, from large enterprises to small startups, prioritize secure, compliant, and accurate access to payroll and HR data. AI doesn't necessarily enhance these core needs and can introduce complications due to its lack of training on specific use cases and edge cases. 2. It’s not up to Finch’s compliance standards. The "black box" nature of LLMs raises concerns around control, auditability, and ultimately, trust. Our customers handle sensitive data, and we cannot compromise on the high compliance standards we uphold. While we recognize the value of AI as a tool, its application to sensitive data requires extreme caution. Until AI technologies meet our rigorous compliance and security requirements, we will not incorporate them into our core product in a way that directly interacts with or manages customer data.

Many companies rely on SFTP for HRIS integrations, but its finicky nature can lead to frustrating errors, data discrepancies, and strained customer relationships. Troubleshooting these issues can be a time-consuming headache, diverting valuable resources from core business functions. The challenge with SFTP: ? ?????????????? ??????????: Establishing the initial connection can be tricky and time-consuming. ? ???????????????? ????????????: SFTP is prone to errors that are often difficult to diagnose and resolve. ? ???????????????? ??????????????????????: Data delays and system discrepancies can lead to a poor customer experience. Frustrated with SFTP errors disrupting your HRIS integrations? We've got you covered. Learn about 10 common SFTP issues and discover a more stable, streamlined alternative.

"Having an aggregator like Finch is amazing, because we can connect into any one system that Finch is connected to. Then as Finch expands those relationships and its network of providers, that makes it a lot easier for us and a little more affordable to connect with more payroll providers." - Jared Porter, QKC?, QKA?, co-founder and COO, 401GO In 2018, 401GO set out to make 401(k) plans accessible for all businesses by creating a platform that allows employers to set up a plan in just 15 minutes, while outsourcing all administrative tasks. From the start, they recognized the critical importance of payroll integrations to their success. While their engineering team is strong, 401GO leadership sought additional ways to expand their integration network. That’s where Finch came in. Today, 401GO uses a combination of internal development resources and Finch-powered 401(k) payroll integrations to pull sponsor data and automate payroll processing to provide the ultimate employer experience. ?? ???????? ?????? ???????? ?????????? ????????: https://lnkd.in/eu7DiK3C 4 ways 401GO leveraged Finch to expand its provider network: 1?? By building to the Finch API, 401GO gained access to a pre-built integration with Gusto, allowing customers to authorize payroll access in as little as 30 seconds. 2?? Finch integrations only need to be configured once, enabling 401GO to expand access to over 200 HRIS and payroll providers without building from scratch or negotiating new partnerships. 3?? While a custom integration takes 401GO’s development team around 3 months to build, followed by a year of monitoring and testing, Finch allows the team to skip this step due to its proven API connection and dedicated support team. 4?? After launching its Gusto integration, 401GO used Finch to integrate with Intuit QuickBooks, streamlining data collection and processing for 3x more customers.

SFTP has long been the standard for payroll data access, but it's hard to scale due to unique client connections and varying data formats. The most common challenges companies face when trying to scale SFTP integrations include: ? ?????????????? ???????????????????? ?????????????????? — Onboarding a new customer with an SFTP connection can take up to 18 weeks, involving time-consuming back-and-forth between you, the customer, and their provider. This frustrates customers, strains your team, and delays revenue. ? ???? ???????? ?????????????????????????????? — Data from customers via SFTP comes in various formats, with each payroll and HRIS provider using different data points and field names. This makes normalizing the data into a usable format a time-consuming but necessary task. ? ???????????? ?????????????????? ?????? ?? ???????? ???? ???????????????????? — Receiving data via SFTP flat files always involves manual work, whether as standard practice or a backup to automated workflows. ?? Automating tasks on SFTP connections is risky due to data mismatches or system changes that can break workflows. Relying on manual processes makes meeting SLAs difficult, especially in regulated industries. ? ?????????????? ???????????? ???? ???????????????? ?????????? — Due to the manual processing required, companies using SFTP often need to hire more staff as they gain clients, making it an unsustainable and costly solution. ?? Scaling SFTP integrations can be much easier with modern solutions like ?????????? ????????????????. Flatfile offers several benefits over traditional SFTP integrations: ? ?????????????? ?????????????????? ???? ?????????????? — With Flatfile, you can skip the complexities of traditional SFTP setups. Simply send the employer a link to authorize access to their HRIS or payroll provider and start receiving data—no need to build custom files. ? ???????????????????????? ???????? — Finch delivers data to your server from each HRIS and payroll in a standardized format. This reduces manual work for your operations team and eliminates the need to manage unique data schemas and naming conventions. ? ???????? ???????????????????? — As the data provided by Finch Flatfile is standardized and vetted for formatting errors and consistency, it’s easier to build and sustain automation with. Here’s how it works: 1?? ?????????? ?? ????????: Simply log in to the Finch Dashboard to generate a Finch Connect link. You can then share this link with any employer to enable them to connect their HRIS or payroll system. 2?? ?????????????? ??????????????????: Employers can then go through the Finch Connect process to authenticate as usual. Finch walks them through any nuances between providers. 3?? ?????????????? ??????????: Each pay run, you’ll receive a file that is standardized across every provider. The file is delivered by SFTP and contains all the information you could get through our API.

At Finch, we're on a mission to transform the employment data ecosystem. This vast landscape encompasses everything from applicant tracking to equity management, but we recognize that payroll and HR data is the beating heart of it all. Why? Because this data flows directly to tax authorities and is the foundation for HR and finance operations. It's a unique intersection of personal identity, employment records, and financial information – the trifecta that makes payroll and HR data the key to unlocking valuable insights for businesses. For us, focusing on this ecosystem means partnering with companies who understand that payroll and HR data isn't just another data source, it's the data source that fuels their applications and delivers immense value to their end customers. We achieve this by diving deep into each data source, understanding pay statement-level details, and building functionalities that tackle the unique challenges posed by different systems. With thousands of payroll and HR systems in the US alone, achieving compatibility with all of them is a monumental task. Yet, it's this dedication to breadth that allows us to anticipate edge cases, plan for them, and ultimately deliver the best end-to-end experience for any application built on HR and payroll data.