PX3000 Review - why 4.7 stars?

PX3000 is a cloud-based benefits administration software designed to provide complete administration of all types of pension and benefits plans. The software comes with features such as:

• Data Acquisition and Plan Installation: Penad enters pension information of end-users into an administrative database of the system. During this stage, data auditing and purification services are also provided. Penad will provide all members with member certificates, as well as an Administration Guide with forms and materials for new transactions, to the plan sponsor.
• Comprehensive Monthly Administration: This feature includes: the enrollment of new members, ongoing data changes (beneficiary update, etc.), Updating of contributions, Updating of salary changes/hours worked, Responding to member inquiries, and What-if pension calculations.
• Year-End Reports and Member Statements: Penad gives Year-End Reports which are sent to the plan sponsor and individual employers, as well as flex-design Member Statements. This feature also comes with Member benefit accrual updates, Pension adjustments, reversals, and Government information returns.
• Actuarial Services: While Penad provides administration-only services to strategize sponsors who have an actuarial provider, the system also provides full pension-related actuarial services, such as Pre valuation planning meetings, Preparation, and submission of Pension Benefits Guarantee Fund (PBGF), Plan design changes, and amendments, etc.
• Consulting: With this feature, end-users can expect full pension plan consulting, including Design, updates, and amendments to plan rules, Expert advice during union negotiations, Planning data audits, etc.

PX3000 (Penad) is a benefits administration software that started in 1983. The company is headquartered in Kitchener, Ontario, Canada. The company has a workforce of up to 50 employees.

The rating of PX3000 is 4.7 stars out of 5 and the total score is 90 out of 100. The ratings are based on our unbiased experts. Learn more in our rating methodology page

The typical customers include the following business size: Small, medium and large size businesses.

PX3000 is ranked 3 out of 79 software in their category (Benefits Administration systems).

PX3000 competes with other benefits administration products like ADP Workforce Now, Paylocity, and Rippling. We will compare these benefits administration products in some specific aspects below.

• Functionality: PX3000 offers features like Deduction Management, Employee Benefits Administration, Online Benefits Enrollment, Provider Management, Retirement Plan Management, etc. ADP Workforce Now offers features like Online Open Enrollment (available in PX3000), Benefits Plan Creation Wizard, Customizable Benefits Practitioner Dashboard, Intuitive Employee Mobile App, Seamless Integration with Payroll, HR and Financial Systems, Benefits Analytics & Decision Support, Automated Regulatory Compliance, etc. Paylocity offers features like Empower Employees, Enjoy the Ease of Mobile Access, Educate Employees, Carrier Files Update Coverage with Ease, Access to Quick Information, Get a Heads Up (and Keep Your Plans on Track), etc. Rippling offers features like Online new hire enrollment, Third-party broker support, Online open enrollment (available in PX3000 and ADP Workforce Now), Payroll deductions sync, Online employee self-service, Small & large group benefits, Flex benefits: FSA/HAS/commuter, ACA & COBRA administration, etc.
• Customers/Industries: Rippling targets Technology, Professional Services, Financial Services, Retail, Nonprofits, Marketing & Advertising, Manufacturing, Restaurants, Healthcare, etc. Rippling has customers like Compass coffee, Beam Dental, Double Good, Superhuman, etc. ADP Workforce Now targets Restaurant/Hospitality, Manufacturing, Professional & Technical Services, Construction, Financial Services, Retail, Health Care, Government/Education, and Nonprofit/Social Services. Paylocity targets Financial Services, Healthcare, Manufacturing, Nonprofit and Education, Restaurants and Hospitality, Retail and Wholesale, Tech and Professional Services, and Transportation & Logistics.
• Cost: The license cost information for PX3000 is unavailable on its official website. PX3000 has a cost rating of 3.1/5 according to ITQlick expert cost analysis. This means it is an average-cost benefits administration software. The rating system considers this software rated 1-2 as low-cost and 4-5 as high cost. The license cost information for ADP Workforce Now and Paylocity is unavailable. Rippling starts at $8.00 per feature per month and comes with a free trial.
• Cloud-based/On-premise: PX3000 and all its alternatives are cloud-based.
• Scalability: PX3000, Paylocity, Rippling, and ADP Workforce Now can accommodate small to large enterprises.
• Support: PX3000 offers support channels like Email/Help Desk, Phone Support, and Chat. Paylocity and Rippling offer all support channels of PX3000 plus FAQs/Forum and Knowledge Base. ADP Workforce Now offers all support channels of PX3000 plus FAQs/Forum, Knowledge Base, and 24/7 (Live Rep).

Schedule a demo with PX3000 and access 65 must ask questions for the vendor while watching PX3000 in action. Visit the vendor's website here.