The startup offers a cloud-based payroll management platform that performs gross-to-net paycheck calculations while ensuring compliance with local labor regulations. It automates payroll processing and tax submissions for businesses operating across multiple countries, simplifying staff management and reducing administrative burdens.
Funding
$2.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Managing payroll across multiple countries is complex due to varying labor regulations, tax laws, and compliance requirements. Businesses often struggle with process inefficiencies and a lack of unified, real-time employee payroll data, leading to increased operational costs and risks of non-compliance.
Solution
KarbonPay offers a unified, cloud-based platform that automates global payroll processing and ensures compliance with local regulations. The platform provides a single source of truth for multicountry payroll data, enabling businesses to streamline operations, reduce errors, and make informed decisions. KarbonPay integrates with existing HCM, financial, and applicant tracking systems, offering customizable reporting and analytics in multiple languages and currencies. The system's country-specific rule engines provide instant and compliant calculations, while built-in guardrails protect against non-compliance.
Target Audience
KarbonPay targets multinational companies and organizations with employees in multiple countries, as well as accounting firms that manage payroll for international clients.
Features
- Automated, country-specific payroll calculations that adapt to changing regulations
- Customizable reporting and analytics with data visualization in multiple languages and currencies
- Integration with existing HCM, accounting, and applicant tracking systems via API
- Employee self-service portal for updating personal information, accessing payslips, and requesting time off
- Direct payment services for disbursing funds to employees accurately and on time, across borders
- Automated submissions to local government agencies to ensure ongoing compliance
- Data protection meeting globally accepted standards of application security and encryption, including GDPR compliance
- Role-based access controls and customizable compliance settings