New Zealand Innovation Awards: Innovation in Financial, Professional & Public Services, Simply Payroll

And the 2017 winner of the Innovation in Financial, Professional & Public Services is... Simply Payroll!

After ‘recruiting qualified staff’, Kiwi SME owners rate payroll as their biggest employment-related headache. So Simply Payroll, as the company’s name suggests, aims to reduce that pain by simplifying the process. 

While we’ve watched Xero, Vend, and Paypr transform accounting, POS, and business administration, payroll’s been left out of the party. As the company says: "She’s accounting’s poor cousin." So it's "given her a makeover and taking her to the ball." 

The Lower Hutt based company has created the world’s first fully-mobile payroll software for iOS and Android. The app manages everything about the employee-employer experience. Paid leave, hours worked/timesheets, pay slips, personal and tax data, employment files, reprimands or other disciplinary measures – it’s all there, on whatever device you're using. And with a wholesale per-payslip rate, rather than an end-user licence agreement for each instance of the software, it's more affordable than the existing options, which require "15 years’ experience and an iron will to operate". 

It also offers support. Of the many fines that MBIE gives out each year to SME owners relating to payroll errors, most are to those with an existing payroll solution in place. Bad data in = bad data out. Meaning the calculations were accurate, but the product was used incorrectly. So Simply Payroll runs a free payroll audit for every new customer to make sure they’re set up correctly. 

Processing thousands of pay cheques also allows it to deliver powerful business insights. What if your payroll provider could tell a cafe, by comparing hourly wage expenses versus revenue figures sourced from POS software, when to close the doors to minimise wage to revenue ratio and maximise profit? How about telling you, as an individual, how much the IRD owes you on your tax return?

The user-focused, mobile-friendly and closely-supported software allows customers to get payroll done quickly and accurately and focus on the stuff that matters.

Evaluator comments:

Congratulations on a great product that is making a difference in the New Zealand market and, importantly, creating time and reducing  effort for small business owners. Your solution is simple and elegant. As you say, it's early days, but you're off to a great start.

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