Payroll data management firm ResNav Solutions has named a new chief executive.
ResNav has chosen Alex Hart, most recently CEO of compensation software firm Payscale, as its new CEO, the company announced in a Tuesday (March 4) press release.
He replaces founder Dan Shaughnessy, who will remain as a board member and “significant shareholder” in the Massachusetts-based company.
“With his extensive experience in scaling high-growth software and payment services companies, Alex brings a deep customer-first perspective to ResNav that uniquely positions him to drive innovations directly benefiting our customers,” Bob Morse, a member of ResNav’s board, said in the release. “We’re excited about what’s next.”
In addition to his time at Payscale, Hart has served as CEO of 2Checkout (acquired by Verifone), Official Payments (acquired by ACI Worldwide) and Corillian (which was acquired by CheckFree and is now a part of Fiserv).
Founded in 1999, ResNav’s solution lets companies that are switching payroll providers maintain access to historical payroll data, and thus letting them better serve their employees while ensuring regulatory compliance.
“ResNav is an innovative expert in data extraction, storage, and availability. It has focused on providing great solutions and building a great business, and that focus will continue as we scale the company to support more customers and to provide more solutions to our existing clients,” said Hart. “I am excited to build upon the success that Dan and his excellent team have achieved in delivering world-class solutions to our partners and clients.”
In other payroll-related news, recent research by PYMNTS Intelligence finds that delays in receiving earnings is an ongoing issue for many workers, especially ones in gig, freelance or contract positions.
The research found that 58% of the workers surveyed said the current payroll infrastructure is inadequate, citing high fees, slow payment processing and currency conversion issues.
“Late payments are common, with 29% of freelancers’ invoices paid late, and 25% of those delayed by more than two weeks,” PYMNTS wrote in January.
“Freelancers in specialized fields like software development experienced even higher rates of delays (29%), and financial stress was more pronounced among female freelancers, with 31% facing late payments compared to 24% of men.”
Many workers turn to payday loans, though this quick fix can often lead to worse financial difficulties. The research shows that 93% of payday loan borrowers regretted their decision and 80% said they had found themselves in more difficult financial straits.
