The Future of Global Payroll Systems (PaySpace Acquired by Deel)
Today's Payroll podcast episode is brought to you by Deel, the all-in-one Global People Platform that simplifies how you pay your global team. Deel’s fully-managed global payroll makes it possible to pay your entire team in over 100 countries and in over 200 currencies, all in one place.
So whether you’re an enterprise business, a small company, or something in between, Deel is built to meet your unique business needs.
Welcome listeners to today’s episode of the Payroll Podcast. We're excited to have Bruce van Wyk, a seasoned tech entrepreneur, PaySpace co-founder and now Global CEO. PaySpace was recently acquired by Deel to be integrated as their exclusive payroll calculation engine.
The acquisition is Deel’s largest to date and represents an enormous step toward their goal of being the one-stop-shop for all things global payroll & HR. By acquiring and integrating PaySpace, Deel will be the first EOR with its own multi-country global payroll calculation engine, as well as a standalone payroll SaaS subsidiary.
The PaySpace global toolset was identified by Deel as the differentiator that could achieve this ambition, and today we are going to find out about how PaySpace tech is going to help Deel to fast-track localisation in multiple territories.
Topics we broke down:
- What is the big deal about global payroll, and does a truly global payroll system exist?
- How did PaySpace start, and what sets it apart in the payroll tech industry?
- What does Deel intend to do with PaySpace technology?
- What is the timeline to achieving these goals?
- What are the complexities and opportunities of managing multi-country payroll compliance?
- What benefits do full stack localized payroll engines offer, and what challenges do they overcome?
- How does the PaySpace M&A further Deel’s mission and support your vision for the future of payroll?
Deel Website: https://www.deel.com/
PaySpace Website: https://www.payspace.com/
Bruce LinkedIn: https://www.linkedin.com/in/brucevanwyk/
Payroll Recruitment: www.jgarecruitment.com
Find your ideal candidate with our job vacancy system: https://jgarecruitment.ck.page/691ee4537e
Nick Day’s LinkedIn: https://www.linkedin.com/in/nickday/
(00:00) Preview, Introduction and Sponsor Message
(03:50) What does payroll mean to you?
(04:07) Why did Bruce launch PaySpace?
(09:18) The transformation of global payroll today
(13:02) Is a global payroll system realistic?
(16:50) The benefits of PaySpace getting acquired by Deel
(24:44) Roadmap for PaySpace in 2024
(30:30) Complexity and opportunities in payroll today
(43:30) Future of the payroll industry
