Fiserv and ADP have partnered to offer U.S.-based small businesses a management system with capabilities across payroll, cash management and payments.
The companies will create an integrated solution that brings together the capabilities of ADP’s small business payroll and human resources solution, RUN Powered by ADP, and Fiserv’s small business management platform, Clover, they said in a Tuesday (Nov. 19) press release.
In addition, Fiserv’s integrated accounts payable (AP) and accounts receivable (AR) management platform, CashFlow Central, will be available to RUN and Clover clients, according to the release.
Fiserv and ADP will start working together this quarter and plan to begin rolling out their integrated services in early 2025, per the release.
“The addition of ADP’s payroll services technically integrated into Clover will make it easier than ever for small businesses to manage the flow of money in and out of their business, whether they are selling to customers, paying bills or managing payroll,” Frank Bisignano, chairman, president and CEO of Fiserv, said in the release.
ADP President and CEO Maria Black said in the release that the company aims to simplify the way small businesses manage their workforce and help those businesses further their impact in their communities.
“The powerful combination of two trusted industry leaders advances our ability to serve the millions of small businesses that drive the U.S. economy,” Black said.
Small businesses that broadened the types of payments they accepted — for both in-store and online sales — did better than those with narrower payment options, according to the PYMNTS Intelligence report, “Small Main Street Businesses: Growing Fast Ahead of the Economy.”
The report found that the small businesses that reported growth in 2023 accepted an average of 6.4 payment types, while those that reported decreasing revenues last year accepted 4.7 payment types.
Fiserv introduced a new suite of tools for small businesses on Oct. 31, rolling them out via Clover and saying the tools were designed with restaurants, retailers and service-based businesses in mind.
ADP said in January that it teamed up with AWS to launch ADP Assist, a generative artificial intelligence (AI)-powered cross-platform solution for businesses that is designed to enhance guidance for employees and managers.
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