People data tech is ineffective, undifferentiated and expensive.
Implementation time
Onboarding clients and their data takes far too much time and effort. It is our industry’s last unsolved problem.
Customer backlog
Implementation prices can be disqualifying while the time it takes to onboard new clients is an unrecoverable cost.
Shrinking margins
With growth comes larger ops teams and complexity. The result is ever-lower operating margins.
Scale ≠ efficiency.
The professional payroll services industry is becoming increasingly competitive, forcing providers to lower prices and innovate constantly. Scaling your way out of this challenge seems like the logical solution, but with scale comes complexity and costs:
Managing people data is inherently complex and localized. As your customer base grows, you find yourself in need of more interfaces, adaptors, developers, testers, quality controls, data audits, and code maintenance. Building and managing these larger teams becomes a daunting task, impacting client satisfaction and ultimately hurting your bottom line.
The counter-measures you implement often lead to increased bureaucracy, reduced agility, and slower responsiveness to client and market demands.
The payroll business suffers from poor economies of scale
It’s an arms race.
Working with people data is inherently intricate due to its lack of universal rules or standards. Imposing standardization through data models and templates, while attempting to simplify the process, often proves to be inefficient, rigid, and costly.
Furthermore, the complexity of laws, compliance requirements, and regulatory frameworks continues to increase worldwide.
In the arms race between standardization and an ever-changing world, the world wins every time.
You’re in the catering business.
The consumer HR Tech sector offers a plethora of sleek solutions, but the professional payroll services industry has lacked purpose-built solutions tailored to its specific needs.
To draw an analogy, consumer HR Tech is like an IKEA kitchen, perfect for everyday family cooking. However, if you’re in the catering business, these kitchens simply won’t suffice. You require the flexibility, efficiency, and scalability that only a commercial kitchen can provide. Historically, the only option was to build such a kitchen from scratch.
However, constructing a global data platform is a complex and long-term endeavor that demands substantial capital investments, ongoing dedicated funding, and specialized skill sets that are difficult to find.