Almost exactly a year after Deel completed the acquisition of PaySpace, the firm rebranded PaySpace to become Deel Local Payroll. The transition will change little for customers who will continue to use the same familiar, powerful payroll platform and be supported by the same services team.
The change brings the Payroll solution closer to the Deel ecosystem. Deel customers can now take advantage of the robust payroll platform that is used in 44 countries across Africa and the Middle East. The solution enables real-time G2N (Gross-to-Net) calculations, shorter cut-off times, and reduces overall pressure and stress when running payroll across multiple countries.
The PaySpace platform now powers Deel’s localized Employer of Record (EOR) and Global Payroll (GP) products in numerous countries. Including the UK, South Africa, Canada, and the UAE. The company continues to work on localisations for additional countries. It means that the powerful Payspace payroll platform will underpin the Deel solutions across the world. Thus, giving the company a powerful payroll solution to meet clients’ requirements.
Bruce van Wyk, CEO at Deel Local Payroll, powered by PaySpace, commented, “When we founded PaySpace, we set out to create world-class payroll management that served all markets. Taking inspiration and lessons from our customers in Africa and leveraging cutting-edge cloud technologies, we built a true 21st-century payroll service that evolves with the needs of modern companies and their workforces.
“The rebranding from PaySpace to Deel Local Payroll allows for deeper integration with Deel, positioning us for continued success and growth. It’s a positive move, building on the strong foundation we’ve already established.”
PaySpace will continue to operate as a separate business unit under the Deel brand. However, this announcement makes the acquisition a reality for many. Deel will continue to invest in Deel, Deel Local Payroll and the PaySpace platform. To push the boundaries of what the all-in-one people global people platform is capable of.
Features of Deel Local Payroll
Deal Local Payroll is a powerful payroll solution whose features include:
- Automatic legislative updates that are pushed directly to customers.
- Robust integration with dozens of business applications and data sources.
- Extensive automation features to remove pressure on payroll teams.
- Powerful scale and flexibility that supports changing business requirements.
- Secure anywhere, anytime access for multiple users and devices.
- Pacey, a WhatsApp employee self-service bot for payroll slips and other information.
Enterprise Times: What does this mean
Deel is a global HR vendor that is not content to solve merely the challenges of enterprise clients across a few nations. The firm is looking, through Payspace, to solve the issues across every country in the world.
With the economies of developing countries growing quickly, it is putting itself in a position to corner a share of the market before the larger “global” vendor enters the market seriously. It will have competition, though, with companies like Zoho slowly expanding both its reach and people functionality in Africa.
The name change may seem minor, but it is an important step for Deel and PaySpace in the acquisition process. It will be interesting to see what changes Deel makes on the second anniversary of the acquisition.
