Payroll Processors

What Payroll Processors does

Payroll Processors is a privately-held payroll and human capital management (HCM) services company founded in 1961 and headquartered in Downers Grove, Illinois. It sells Full Service Payroll as its core offering, supplemented by a menu of add-on modules including Time & Attendance, Recruiting & New Hire Onboarding, Benefit Plan Maintenance, Employee Self Service, HR Support Center, Workers' Compensation, and Complex Payroll Solutions. The company does not own its core HCM technology stack; instead it resells and services two third-party cloud platforms, iSolved and Evolution Payroll (EVO), providing company and employee login portals for each, along with integrations to QuickBooks Online (accounting), Human Interest (401k), and Timeworks Plus/Timeworks (timekeeping). A physical payroll check delivery tracking service is provided through courier partner UDS.

The company's go-to-market is sales-led and relationship-driven, with each client assigned a dedicated account manager providing one-on-one training and direct phone access — explicitly positioned against "impersonal software-only payroll companies." Revenue is generated through recurring monthly subscriptions priced by payroll frequency, with pricing bundled inclusive of add-on modules and customized through direct sales consultation. Customer acquisition is driven by direct sales outreach, a $100 two-sided referral program, and a content-rich client resources portal. The company serves primarily small-to-mid-sized businesses across the US Midwest, with named clients spanning hospitality, manufacturing, and construction verticals. No publicly disclosed revenue, funding history, ownership structure, or management team information is available; the company appears to be an independent, founder/private-owned SMB reseller with 11-50 employees and a stated customer base in the hundreds.

Name

Payroll Processors

Legal name

Payroll Processors

Website

https://payrollprocessors.com

Company type

Private

Founded year

1961

Operating status

Operating

Headcount range

11–50 employees

Short description

Payroll Processors is a privately-held payroll and HCM services reseller founded in 1961 and based in Downers Grove, Illinois, serving hundreds of small-to-mid-sized businesses across the US Midwest via iSolved and Evolution Payroll platforms with a human account-manager-led service model.

Ownership category

akta.pro rank

Product category

Payroll and Human Capital Management Services

NAICS

Payroll Services (541214)

SIC

Services-Computer Processing & Data Preparation (7374)

akta.pro primary industry

Full-Service Payroll Processing (BPACAIAA)

Keywords

• Payroll processing services
• Human capital management
• HR outsourcing
• Time and attendance
• Benefits administration

Headquarters

HQ city

Canton

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Full Service Payroll: Core payroll processing service with pricing based on payroll frequency. The company offers tiered plans with add-on solutions for additional services like time & attendance, HR support, and benefits management.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Payroll Processors provides full-service payroll processing for U.S. small and mid-sized businesses, handling wage calculation, tax withholding, and payment distribution. The offering is bundled with add-on modules covering HR support, recruiting and onboarding, time and attendance, benefit plan maintenance, employee self-service, workers' compensation, and complex payroll solutions. Services are delivered through two third-party HCM platforms (iSolved and Evolution Payroll) and supported by dedicated human account managers.

Product overview

Payroll Processors is a payroll and human capital management (HCM) company offering a unified platform combining multiple services. The core offering is Full Service Payroll, supported by add-on modules including Recruiting & New Hire Onboarding, Time & Attendance Solutions, Benefit Plan Maintenance, Employee Self Service, HR Support Center, Workers' Compensation, and Complex Payroll Solutions. The company operates primarily through two HCM platforms: EVO Payroll and iSolved Payroll, which provide company and employee login portals. Additional services include Direct Deposit, ACA Monitoring, and payroll tracking via courier partner UDS. All services are backed by personalized human account management support.

Differentiator

Problem solved

Functional benefit

Products and services

• Full Service Payroll Complete payroll processing service handling wage calculation, tax withholding, direct deposit, and payment distribution for businesses. Customers are charged based on payroll frequency and can add modules such as HR support, workers' compensation, and time & attendance.
• Recruiting & New Hire Onboarding Recruitment and onboarding service that helps businesses hire employees and manage the onboarding process efficiently. Offered as an add-on to the base payroll package.
• Time & Attendance Solutions Time tracking and attendance management service that monitors employee work hours, absences, and overtime. Powered by Swipeclock's Timeworks Plus and Timeworks products and integrated with payroll calculations.
• Benefit Plan Maintenance Service for managing and maintaining employee benefit plans including health insurance, retirement accounts, and 401(k) plans through the Human Interest integration.
• HR Support Center Human resources support service providing guidance and resources for HR-related questions, compliance, and policy matters. Offered as an add-on to base payroll.
• Workers' Compensation Workers' compensation management and tracking service that helps businesses manage claims, coverage, and regulatory compliance. Offered as an add-on to base payroll.
• Complex Payroll Solutions Specialized payroll processing for businesses with complex payroll needs including multi-state operations, union payroll, certified payroll, or unique compensation structures.
• Payroll Tracking Payroll delivery tracking service that allows clients to track payroll packages via a barcode-based courier system through partner United Delivery Service (UDS).

Quantifiable outcome

• Clients maintain relationships for 10+ years without switching

Named customers3 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Six partnerships are on record, tiered core and supporting.

• iSolvedcoreTechnology or IntegrationiSolved provides the cloud-based HCM platform for payroll processing. Payroll Processors offers both company and employee login portals through the iSolved system, including Employee Self Service functionality.
• Evolution PayrollcoreTechnology or IntegrationEvolution Payroll (EVO) provides additional payroll processing capabilities with company login, employee login (ESS), and advanced HR (EVO HCM) portals managed through Payroll Processors.
• Timeworks Plus / TimeworkssupportingTechnology or IntegrationTime and attendance tracking solutions integrated with the payroll platform. Swipeclock's Timeworks products provide employee time tracking, absence management, and overtime calculations.
• Human InterestsupportingTechnology or Integration401k retirement plan integration partner. Enables seamless setup and management of employee retirement plans through the HCM platform, helping employees plan for retirement.
• QuickBooks OnlinesupportingTechnology or IntegrationAccounting software integration that syncs payroll data with QuickBooks Online, minimizing errors, saving time, and ensuring accurate financial reporting.
• UDS (Courier)supportingTechnology or IntegrationUnited Delivery Service (UDS) serves as the courier partner for payroll check delivery, allowing clients to track payroll packages via barcode tracking system.

Scale indicators1 record

Recent moves5 records

Expansion highlights4 records

Direct peers

• Gusto: Gusto is a modern cloud-native payroll, HR, and benefits platform built for small businesses. It competes with Payroll Processors in the same SMB payroll segment but differentiates through fully digital onboarding and a modern user experience rather than high-touch human service.
• SurePayroll: SurePayroll, a Paychex subsidiary, provides online payroll services for small businesses. It competes with Payroll Processors in the SMB payroll market, particularly targeting businesses with fewer than 100 employees with a fully online, self-service model.
• OnPay: OnPay is a payroll and HR services provider for small businesses, offering full-service payroll with transparent pricing. It competes directly with Payroll Processors in the SMB payroll space, particularly with businesses seeking affordable, all-in-one solutions.
• Paylocity: Paylocity is a cloud-based HCM and payroll software provider targeting mid-market companies with a SaaS delivery model. It competes with Payroll Processors in offering integrated payroll, HR, time, and benefits, though with proprietary technology and a larger mid-market focus.
• Paychex: Paychex is one of the largest SMB-focused payroll and HCM providers in the US, offering full-service payroll, HR, benefits, and retirement services. It directly competes with Payroll Processors in the same SMB segment with a comparable service-plus-software model, though at vastly greater scale and broader geographic reach.
• Paycor: Paycor provides HCM, payroll, time, and talent management software for mid-market businesses. It directly competes with Payroll Processors in offering integrated HCM solutions, though with proprietary technology and a larger target customer profile.

Broad incumbents

• ADP (Automatic Data Processing): ADP is the largest payroll services provider in the world, serving businesses of all sizes with payroll, HR, tax, and benefits solutions. It competes with Payroll Processors across the entire SMB spectrum but operates as a broad incumbent with multiple product lines and much greater scale and brand recognition.
• QuickBooks Payroll (Intuit): Intuit's QuickBooks Payroll integrates payroll directly into the QuickBooks accounting ecosystem used by millions of small businesses. It competes with Payroll Processors for SMB payroll customers, particularly those already using QuickBooks for accounting—Payroll Processors even integrates with QuickBooks Online.

Others

• iSolved: iSolved is a cloud-based HCM platform provider whose technology Payroll Processors leverages to serve clients. iSolved also sells directly to employers through its own partner network, making it both a technology supplier and an indirect competitor to Payroll Processors in the SMB HCM market.

Emerging players

• Rippling: Rippling is a fast-growing cloud HCM platform unifying payroll, HR, IT, and spend management. While it focuses on slightly larger and more tech-forward customers, it increasingly competes with traditional payroll services providers like Payroll Processors in the mid-market segment.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Payroll Processors