On Monday Paychex (NASDAQ:PAYX) launched the Paychex Online Mobile application for Apple iPad expanding its Software as a Service (SaaS) product offering for clients.  Paychex is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses, and competes with the likes of Automatic Data Processing (NASDAQ:ADP) and CBIZ (NYSE:CBZ).
We currently have a $29.73 Trefis price estimate for Paychex, in line with current market estimate for the stock.
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iPad App Increases Ease of Access; Not the First of Its Kind
The Paychex Online Mobile app – available for free download – provides access to full suite of Paychex online payroll, human resources, and benefits products, indicating the firm’s commitment to provide best-in-class service to clients using next-gen technologies and products.
However, Paychex is not the first to launch a payroll app support for the iPad and comes a long time after ADP’s RUN app for the iPad – a similar offering, which has been available for download on the App Store since October 2010.
A Timely Launch as Small Business Hiring Picks Up
The launch Paychex Online Mobile app for iPad comes at a good time as the US non-farm private employment increased by 206,000 in November. According to ADP’s National Employment Report, the employment growth was led primarily by small businesses which added 110,000 jobs in November. 
As small business hiring picks up, the new iPad app puts Paychex’ payroll offering on equal footing with that of ADP’s, especially for customers looking for increased ease of use and anytime, anywhere access for their payroll management.* This is particularly important for Paychex as it primarily caters to the small and mid-size businesses as opposed to ADP, which is more reliant on large businesses.
* ADP also announced its popular payroll management platform for small businesses, RUN Powered by ADP, for the Android in May 2011 whereas Paychex does not have an app for Android platform as of yet.Notes: