Kronos vs. Fairmas vs. Paychex: Which is a Better Fit?

Kronos Time & Attendance

Payroll Options

Direct deposit
Pay by check
Pay by card

Auditing & Accuracy

Exception reporting
Liability reporting for funding requirements
Pre-processing reports

Tax & Compliance

Automated tax reporting
Electronic IRS filing and pay withdrawals
Quarterly online tax statements & W2 preview
New hire reporting

FairPlanner (by Fairmas)

Budget Creation & Planning

Department-level budget templates
Multi-year budget planning
Centralized budget input workflows
Approval workflows & audit trails

Financial Forecasting

Rolling forecasts
Daily, monthly, and annual forecasting
Forecast scenarios (best/worst case)
PMS data integration for forward-looking projections

Variance & Scenario Analysis

Forecast vs. actual comparisons
Historical trend analysis
What-if scenario modeling
Real-time alerts for budget variances

Multi-Property Consolidation

Group-level budget aggregation
Brand vs property-level visibility
Standardized templates across properties

Performance Dashboards & Reporting

Custom financial dashboards
Real-time KPI tracking (GOP, NOI, TRevPAR)
Exportable and shareable reports
Scheduled automated reports

Collaboration & Workflow Tools

Role-based user permissions
Commenting & change history
Task assignments for budget contributors
Cross-departmental collaboration features

Key Integrations

PMS, POS, and accounting system data sync
BI platforms
Real-time revenue & expense feeds
Integration with Excel and Google Sheets

Audit & Compliance Tracking

Budget versioning and locking
Approval trail visibility
Compliance checklists

Paychex

Payroll Options

Direct deposit
Pay by check
Pay by card

Auditing & Accuracy

Exception reporting
Liability reporting for funding requirements
Pre-processing reports

Tax & Compliance

Automated tax reporting
Electronic IRS filing and pay withdrawals
Quarterly online tax statements & W2 preview
New hire reporting

What Customers Are Saying

Most Recent Review

Kronos doesn’t have any clients that have vouched for the product

a must tool for all size of properties

head of commercial from Floriana (Malta)

Paychex doesn’t have any clients that have vouched for the product

Most Positive Review

Efficient

Deputy GM

Most Critical

Great platform for collaboration

Director of Finance

References