PayFit
About PayFit
PayFit provides a cloud-based payroll and HR software that automates over 90% of payroll tasks, including HMRC submissions and holiday calculations, for small and medium-sized businesses. This technology reduces manual data entry and compliance risks, saving users up to 80% of the time spent on payroll administration each month.
```xml <problem> Small and medium-sized businesses often struggle with the complexities of payroll administration, including manual data entry, HMRC submissions, holiday calculations, and compliance with ever-changing regulations. Managing these tasks in-house can be time-consuming and prone to errors, while outsourcing can be expensive and reduce control. </problem> <solution> PayFit offers a cloud-based payroll and HR software solution designed to automate over 90% of payroll tasks, streamlining the entire process for small and medium-sized businesses. The platform simplifies payroll management with user-friendly workflows, automating tasks such as HMRC submissions, holiday calculations, and deduction calculations. PayFit provides access to expert guidance and support, ensuring compliance and reducing the risk of errors. The software also offers features for leave and absence management, expense tracking, pensions administration, and performance management, all integrated into a single platform. </solution> <features> - Automated payroll processing, including salary changes, deduction calculations, and RTI submissions - Integrated leave and absence management with employee self-service for requesting time off - Expense management with custom policy creation and receipt scanning via optical character recognition - Automated pension submissions for major UK pension providers - Performance and people management tools for tracking employee performance and development - Real-time payslip updates and variance reports for easy review and error detection - Integration with popular accounting and HR tools via API - Automated updates for rates and thresholds based on new legislation </features> <target_audience> PayFit is designed for small and medium-sized businesses (SMBs) in the UK, ranging from startups to companies with hundreds of employees, particularly those seeking to simplify and automate their payroll and HR processes. </target_audience> <revenue_model> PayFit offers tiered pricing plans (Light, Standard, and Premium) designed for small business needs, with options for core payroll functionality or additional support from a dedicated account manager. </revenue_model> ```
What does PayFit do?
PayFit provides a cloud-based payroll and HR software that automates over 90% of payroll tasks, including HMRC submissions and holiday calculations, for small and medium-sized businesses. This technology reduces manual data entry and compliance risks, saving users up to 80% of the time spent on payroll administration each month.
Where is PayFit located?
PayFit is based in Paris, France.
When was PayFit founded?
PayFit was founded in 2015.
How much funding has PayFit raised?
PayFit has raised 495920000.
- Location
- Paris, France
- Founded
- 2015
- Funding
- 495920000 0