Anchor Payroll & Benefit Solution

What Anchor Payroll & Benefit Solution does

Anchor Payroll & Benefit Solution is a private, sales-led payroll and Human Capital Management (HCM) provider founded in 2009, headquartered in Mt. Olive, New Jersey with a secondary office in Millwood, New York. The firm targets small to mid-sized businesses in the 5–500 employee range, delivering payroll processing, tax filing and compliance, time and attendance, employee onboarding, applicant tracking, HR support, workers' compensation pay-as-you-go, and 401(k)/retirement plan integration. Anchor primarily serves SMB clients directly via a toll-free phone sales motion and quote-based pricing, and indirectly through formal referral partnerships with CPA firms and insurance brokers; its CPA Advisory Board convenes twice yearly to surface industry intelligence and publish the annual CPA Top Trends & Insights Guide.

The core technology stack is a cloud-based SaaS HCM suite organized around PPX (PlatinumPay Xpress) as a single sign-on gateway to Workforce HUB, the HR Support Center, the Employee Experience Portal, and TimeWorksPlus/SwipeClock for biometric, proximity-card, and geofenced time capture. Mobile apps for iOS and Android extend self-service for employees. The platform runs on technology licensed from Execupay, Inc. (login portals carry Execupay copyright notices), which materially reduces Anchor's internal R&D burden and means product capability depends on the underlying vendor's roadmap. Anchor has earned AICPA SOC 1 certification, signaling institutionally audited internal controls over financial reporting.

Commercially, Anchor operates on a recurring subscription model with monthly billing and custom quote-based pricing scaled to employee count and module selection. No public pricing tiers are disclosed. Revenue is generated from payroll processing, time & attendance, HR services, and integration fees for workers' compensation and retirement products. The company claims nationwide reach beyond its NJ/NY base, though its two physical offices, 11–50 headcount, and absence of disclosed funding indicate a regional/domestic SMB services operation rather than a venture-backed scale-up.

Name

Anchor Payroll & Benefit Solution

Legal name

Anchor Payroll & Benefit Solutions

Website

https://anchorpays.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Anchor Payroll & Benefit Solution is a private payroll and HCM provider serving SMBs with 5–500 employees across NJ, NY, and nationwide, delivering payroll processing, time & attendance, HR support, workers' comp, and retirement plan integration via its PPX platform and CPA/broker partner channels.

Ownership category

akta.pro rank

Product category

Payroll and Human Capital Management Services

NAICS

Payroll Services (541214), Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Managed Payroll Services (Full-Service Payroll Outsourcing) (BPAAAHAA)

akta.pro secondary industries

Payroll Software & Payroll-as-a-Service (SaaS) (BPACAIAB), Payroll, Time & Attendance (BPACAPAB), Human Capital Management (HCM) & Payroll Platforms (HDAEAEAJ)

Keywords

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

Headquarters

HQ city

Millwood

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Payroll Processing Services: Recurring subscription-based payroll processing services for small to mid-sized businesses. Includes tax filings, compliance management, and direct deposit processing.
2. Time & Attendance Solutions: Integrated time tracking and attendance management, available as part of the full HCM suite or as standalone integration.
3. Human Resources Services: HR support, compliance guidance, employee onboarding, and applicant tracking services bundled with payroll or as add-on modules.
4. Payroll Integrations (Workers' Comp, Retirement): Integration services for workers' compensation pay-as-you-go, 401(k) and benefits administration, flowing directly through payroll.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Anchor Payroll & Benefit Solution delivers cloud-based payroll processing, time and attendance, employee onboarding, applicant tracking, human resources support, and benefits administration (workers' compensation and retirement plans) for U.S. small and mid-sized businesses. The company operates a unified HCM platform (PPX/Workforce HUB) with a dedicated specialist model that handles onboarding, tax filings, compliance, and ongoing support for clients with 5 to 500 employees.

Product overview

Anchor Payroll offers a unified HCM (Human Capital Management) platform centered on PPX (PlatinumPay Xpress) as the core payroll and SSO gateway, supplemented by Workforce HUB for employee/employer self-service, Employee Experience Portal for basic ESS functions, and HR Support Center for compliance guidance. The platform integrates specialized modules for Time & Attendance (including TimeWorksPlus and mobile apps), Employee Onboarding, Applicant Tracking, Human Resources, Workers' Compensation, and Retirement Plans. Additional resources include the People Matters Blog, Federal & State Resources library, CPA Advisory Board program, and Demos & Tutorials section. The architecture combines a web-based SaaS delivery model with mobile apps for iOS and Android.

Differentiator

Problem solved

Functional benefit

Brands

• PPX (PlatinumPay Xpress): Powerful payroll and HR platform built for businesses of all sizes
• Workforce HUB
• TimeWorksPlus
• HR Support Center
• Employee Experience Portal (EEP/ESS)

Products and services

• Payroll Services Full-service payroll processing including wage calculations, direct deposit, payroll tax filings, federal and state compliance management, and reporting for small to mid-sized U.S. businesses.
• Time & Attendance Time and attendance tracking service with biometric, proximity card, geo-fencing, web clock, and mobile clock options for hourly and remote employees, integrated with payroll.
• Human Resources Services HR compliance, policy guidance, and workplace management support service for SMB employers, including access to an HR Support Center with state and federal resources.
• Employee Onboarding Digital onboarding service that streamlines new hire documentation, I-9 verification, and employee setup for SMB employers.
• Applicant Tracking Recruitment and applicant management service that supports job posting, candidate tracking, and hiring workflows for small and mid-sized employers.
• Workers' Compensation Integration Pay-as-you-go workers' compensation service integrated with payroll so premiums are calculated on actual wages, eliminating down payments and audit adjustments.
• Retirement Plans Integration 401(k) and retirement plan contribution service that automates employer match calculations and synchronizes deductions with payroll runs.
• Background Screening (National Crime Search) Background screening service integrated into Anchor's HR offerings that provides fast, affordable pre-employment checks with no setup fees or monthly minimums.

Quantifiable outcome

• Most businesses are up and running in just a few weeks with data transfer, setup, and testing handled by Anchor's team
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core.

• Joe Reed - CKW Accountants & ConsultantscoreStrategic or Co-development Partner · 1 January 2025Joe Reed brings decades of experience leading a full-service accounting firm that supports small to mid-sized businesses with tax strategy, compliance, and consulting services. He participates in the Anchor CPA Advisory Board, a strategic forum where experienced CPAs and Anchor's leadership team meet twice yearly for roundtable discussions on pressing issues facing the accounting and payroll industries.
• Rob Rhine - Rhine & Co.coreStrategic or Co-development Partner · 1 January 2025Rob Rhine is a trusted advisor for family-owned businesses and long-term clients. His firm specializes in financial planning, bookkeeping, and accounting with a personalized touch. He serves on the Anchor CPA Advisory Board, contributing strategic insights and participating in collaborative discussions with Anchor leadership.
• Dave & Nicole Colavito - Colavito & AssociatescoreStrategic or Co-development Partner · 1 January 2025This husband-and-wife team leads a proactive and fast-growing firm focused on business consulting, tax planning, and audit support, serving a diverse range of small business clients. Both participate in the Anchor CPA Advisory Board, contributing to strategic discussions on industry trends and best practices.
• Joanna Jimenez - Joanna Jimenez, CPAcoreStrategic or Co-development Partner · 1 January 2025A solo practitioner with a modern approach, Joanna specializes in cloud-based accounting and financial coaching for entrepreneurs and service-based businesses. She contributes to the Anchor CPA Advisory Board, bringing fresh perspectives on technology adoption and modern accounting practices.
• TimeWorksPlus (SwipeClock)coreTechnology or IntegrationTimeWorksPlus is the time and attendance technology platform integrated into Anchor's service offering. Businesses using time and attendance with biometric, proximity card, geo-fencing/location or other physical clocks can access the platform through Anchor's single sign-on via PPX.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Gusto: Cloud-based payroll, HR, and benefits platform purpose-built for small and mid-sized businesses — the closest direct competitor to Anchor's SMB-targeted, subscription HCM model.
• Paycor: SMB-to-mid-market HCM platform covering payroll, time, talent, and benefits — comparable integrated suite marketed to the same employer size band as Anchor.
• Rippling: Unified HCM platform combining payroll, IT, HR, and finance for SMB and mid-market employers; one of the most aggressive venture-backed entrants competing head-on with Anchor's integrated suite thesis.
• Intuit QuickBooks Payroll: Payroll bundled with QuickBooks accounting, targeting the same SMB audience with simple subscription pricing; a direct peer and common comparison point for prospects weighing Anchor.
• SurePayroll: Online full-service payroll for small businesses (Paychex subsidiary) offering very small employer pricing — directly comparable niche and pricing posture to Anchor.
• OnPay: SMB-focused online payroll and HR service with flat pricing and full-service onboarding; directly competes with Anchor for small employer accounts and partner referrals from accountants.
• Justworks: PEO-style SMB service bundling payroll, benefits, and HR support with a dedicated specialist model — operates an adjacent white-glove playbook that overlaps directly with Anchor's value proposition.

Broad incumbents

• Paychex: Large incumbent payroll and HCM provider with deep SMB focus and an owned technology stack; competes with Anchor across the 5-500 employee segment and offers similar full-service payroll plus integrations.
• ADP: Largest US payroll/HCM incumbent (RUN, Workforce Now) serving SMBs through enterprise; a broad incumbent where Anchor's white-glove specialist pitch attempts to differentiate on service quality.

Emerging players

• Square Payroll: Block-owned payroll service for small businesses and Square sellers; bundled distribution into a payments ecosystem makes it a meaningful adjacent competitor for the smallest end of Anchor's target market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/AnchorPayroll

Compliance1 record

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 Anchor Payroll & Benefit Solution