Offers white label service for accounting firms.
When cloud accounting company Xero acquired cloud payroll service Paycycle, many thought the days of specialist cloud payroll providers were limited. Saasu already had its own payroll function – was there still room for independent payroll?
Keypay, which launched in July last year, is adamant separate payroll makes sense. The cloud software has one-click integration with Saasu and office scheduling app Deputy.com, while Xero is on the roadmap.
The two cloud accounting vendors are not focused enough on payroll to give it all the features the market is demanding, Keypay founder Richard McLean. Saasu’s included payroll misses out on features such as a user portal and leave management, he says.
Keypay has picked up customers moving away from Xero’s integrated payroll because they wanted to keep the function separate from the accounting program, McLean claims.
“Do you want your payroll people to see how your business is going? When you get to the larger SMBs the rostering function and the payroll function are very different,” McLean says. “I think they should be separate because there is that exposure into your accounting system to see what your business is doing and people are pretty protective of that.”
Keypay offers a white labelling service for accounting firms doing payroll for large numbers of clients. A firm could use either company.yourpayroll.com.au or the firm’s own domain name to provide a portal for clients’ employees. Messaging comes from the firm’s email adresses so clients don’t know they’re using another system.
“It takes a couple of minutes to pay a couple of hundred people,” McLean says.
Legacy software such as Attache didn’t provide external access for employees to check payroll information. “There’s a significant amount of payers in the marketplace that are using legacy software that really want to move into this space to make their job easier and diversify their workforce, but with these legacy type systems they can’t do it,” McLean says.