Company Research Report: Symmetry Software LLC
Company Overview
- Name: Symmetry Software LLC
- Mission: Symmetry is on a mission to power innovation in people tech by solving complex payroll compliance challenges across the employee lifecycle through modern technology. Its vision is to provide payroll compliance infrastructure for all people tech, ensuring complete confidence in tax compliance.
- Founded: 1984
- Founder: Tom Reahard
- Key People:
- Chief Executive Officer: Elizabeth Oviedo
- Background in finance, marketing, education, and strategic growth. MBA and MS in Information Management from Arizona State University.
- Headquarters: 14350 N. 87th St., Suite 310, Scottsdale, AZ 85260
- Number of Employees: No information is available
- Revenue: No information is available
- What is the Company Known For: Symmetry is recognized for its payroll tax compliance infrastructure, and the technology supports the payroll of over 64 million employees each year in the U.S. They are integral to federal, state, and local tax compliance across numerous platforms.
Products
- Symmetry Tax Engine®
- Description: A powerful gross-to-net calculation engine for embedding payroll into an existing application to increase compliance and accuracy.
- Key Features:
- Process payroll taxes for over 7,400 taxing jurisdictions.
- Covers all 50 U.S. states, territories, including Puerto Rico, and Canada.
- Ensures accurate payroll tax calculations in multi-state environments.
- Symmetry Payroll Forms
- Description: Automates employee onboarding and new-hire tax withholding forms.
- Key Features:
- Includes over 130 compliant forms for federal, state, and local governments.
- Supports automation and compliance with direct integration capabilities.
- Symmetry Payroll Point®
- Description: Combines location data with tax engine to deliver tax withholding information based on geographic coordinates.
- Key Features:
- Advanced geocoding technology to convert addresses into geographic coordinates.
- Supports precise calculation of complex payroll tax scenarios.
- Minimum Wage Finder
- Description: Tracks minimum wage rates based on specific parameters like state, city, work address, and job type.
- Key Features:
- Provides historical and future rate changes for accurate budget and compensation planning.
- Calculators by Symmetry
- Description: Customizable paycheck calculators for gross-to-net calculations across several payroll scenarios.
- Key Features:
- Offers 11 variations of calculators including Salary Paycheck Calculator, Hourly Paycheck Calculator, and more.
- Easily integrates into websites, employer portals, or payroll products.
- Tax Notification Service
- Description: Automated real-time email notifications for withholding tax rate changes.
- Key Features:
- Provides comprehensive and updated tax notifications.
- Supports compliance and timely updates based on new tax regulations.
Recent Developments
- Recent Product Launches/Developments:
- Symmetry Select (2022): Provides clients with a dedicated Symmetry Relationship Manager for oversight of key strategic initiatives.
- Canadian Symmetry Payroll Forms (2023): Expands support to Canadian federal, provincial, and territorial TD1 forms.
- Rebranding (2024): Introduction of a refreshed new logo and website in alignment with their new mission in people tech.
- Key Partnerships:
- Gusto Acquisition (2021): Symmetry became part of Gusto, continuing its mission to ensure accurate payroll compliance.
- Awards and Recognition:
- Phoenix Business Journal (2024): Named among the best places to work.
- PRNewswire (2024): Celebrated 40 years of innovation in payroll compliance.
Conclusion
Symmetry Software LLC stands as a pioneering force in the payroll compliance technology sector, celebrated for its robust suite of products that optimize and ensure tax compliance and payroll accuracy. Under the visionary leadership of Elizabeth Oviedo and with a rich legacy starting in 1984, Symmetry continues to innovate and support its clients through comprehensive tax solutions across the U.S. and Canada.
