Payroll processor merges with HR company
A local provider of payroll and other HR services is merging with a Maryland-based company, partly to tackle Obamacare compliance.
BenePay in Byron Center and Lyceum Business Services in Gaithersburg, Md. said yesterday that they’re merging, and the new company will be Benepay Technologies.
Benepay Technologies will operate offices in Byron Center and Brighton, as well as Maryland, Texas, New Jersey, Ohio and Florida.
The merger doesn’t diminish the company’s commitment to Michigan, and it will remain locally owned as its presence in the state expands, said Bill Traywick, market president of agency services for the Great Lakes region, Benepay Technologies.
The companies said the merger will combine the software development expertise of Lyceum Business Services with the comprehensive payroll and HR services of BenePay, including business insurance, financial services and consulting.
BenePay, founded in 2008, has processed payroll for more than 1,400 clients in all 50 states.
Lyceum, founded in 2003, brings its OneTouch platform to the new company. The product helps HR pros manage payroll, benefit administration, cost control and compliance.
The OneTouch platform is designed to “make it easy” for HR pros to stay compliant with Obamacare and “remove many of the repetitive tasks from their daily activities,” said Casey Young, chief executive officer, Benepay Technologies.
“We are equally excited about the new business opportunities this provides, and we look forward to delivering the industry’s best, fully integrated solution,” said Erik Rind, president and chief operating officer, Benepay Technologies.
The merger was also an opportunity for Lyceum Business Services to use the sales efforts of BenePay’s Michigan presence, while creating a partnership for the companies to target the mid-size market, Traywick said.
"This was an area BenePay had a need for, a need for this program," said Traywick, referring to Lyceum’s OneTouch platform. "By having larger operations support the business — to sell it and actually getting distribution to other clients — will accelerate the growth of the company."