Paycom Software, Inc. announced updated cost estimates of data entry and HR tasks within its usage management analytics tool, Direct Data Exchange (DDX). These figures are based on the latest findings by professional services firm Ernst & Young (EY), who found the average cost of a single manual data entry made by an HR professional increased from $4.70 to $4.78. An HR product, DDX gives employers insights into efficiencies gained through employee usage of HR technology.

It provides a real-time estimated return on investment for that usage based on EY's research, which is reflected in Paycom's industry-first product. EY regularly updates its calculations by applying inflation factors to survey data. This year's study also includes consideration for manual payroll tasks completed by HR professionals.

When payroll tasks are included, the average cost of a Single manual data entry rises from $4.78 to $5.35. These estimated costs are only averages. EY also concluded that the cost per data entry of each task varies and can be as much as $21.18.

Additionally, according to EY's annual research, the cost per HR task has continued to increase across every category of HR data -- such as expense management, personal information and more -- since the original survey launched in 2018. Paycom's DDX automatically calculates these costs for clients so they can, in turn, drive employee usage of Paycom's Employee Self-Service technology. With the launch of DDX, Paycom became the first in the human capital management industry to provide a tool that assists employers in determining what appropriate employee usage of HR technology looks like and how to measure it.