Pay equity software is designed to facilitate the analysis, monitoring, and ensuring fair and equitable compensation practices within an organization, regardless of factors such as gender, race, or other protected characteristics. To do so, it collects data and uses statistical analysis, reporting, and scenario planning that help organizations in addressing and preventing pay discrimination. As a result, it accomplishes, identifies, and rectifies any wage disparities or inequalities that may exist within the workforce, and promotes equal pay for equal work, and compliance with relevant laws and regulations. The typical users are HR teams and managers.