Employment Hero acquires Employment Innovations ahead of launching fully automated payroll solution

Employment Innovation’s payroll expertise will accelerate the development of the world’s first fully automated payroll solution Key takeaways:

• Employment Hero has acquired professional services firm, Employment Innovations. The two companies have a long-standing relationship with Employment Hero born out of this partner company in 2013. To understand how this strategic move fits into our broader vision, read more about an important update from Employment Hero CEO.

• A revamped HR Advisory service will be offered to Australian customers. You’ll now be able to access a large team of employment experts in a firm with more than 30 years of experience. 

• Managed Payroll is now available to Employment Hero customers in all regions. This is an entirely new offering and will add immense value to time-poor SMEs.
• This marks a critical step for Employment Hero before it launches fully automated payroll services globally.

For some Small & Medium Sized Businesses (SMBs), processing their staff’s wages regularly takes them up to a week. We want to reduce that time to hours. For many employers, that means no more Sundays spent having to run payroll – SMB owners deserve time off, too! That’s why we’re thrilled to announce that Employment Hero has acquired Employment Innovations – Australia’s leading provider of employment services. Employment Innovations has thirty years of managed payroll and HR advisory expertise that will now be integrated into Employment Hero’s team and platform. United as one team, we can accelerate the development of the world’s first fully automated payroll offering. This means we can go beyond just automating the repetitive aspects of payroll. With the added expertise of Employment Innovations we’ll be able to train our systems to automate complex payroll processes that often change day-to-day. Our customers will also now benefit from human-led support. This gives SMEs across the globe access to the best of both worlds – the accuracy and efficiency of AI, alongside human analysis and consultancy. As we enhance our payroll and HR services, learn more about how we’re advancing our capabilities with AI in our introduction of SmartMatch and Hero AI. Globally, we already service over 350,000 businesses, manage over 2.5 million employees and process over $100bn in payroll annually. And from today, we are supplementing our existing offering to provide managed payroll to our customers across Australia, New Zealand, the UK, Singapore and Malaysia. Customers in Australia and New Zealand can also benefit from HR advisory. Employment Innovations was founded over thirty years ago and they have since become the global experts at scaling managed payroll services and HR advisory services exclusively using Employment Hero. Today, it makes perfect sense to combine our expertise with theirs as one team, to reshape the employment landscape.

From managed payroll today to fully automated payroll tomorrow

We believe developing automated payroll will be revolutionary. It will make payroll more efficient and accurate for thousands of businesses across the globe. Simple pay runs can be completed instantly, and more complex ones can be run in an hour or two.,We predict this could reduce the time spent on manual payroll processing by up to 80%. Our customers are often time-poor and under-resourced. Offering managed payroll and HR advisory gives them time back to build their business and offer more employment opportunities. While we’re driving increased payroll automation, it’s important to maintain the human touch. Bringing Employment Innovations onboard ensures there are real people behind the scenes, working hard to make employment easier and more valuable for all. Find out how this acquisition positions us in the competitive payroll services market by exploring our strategies to compete in this growing field. Employment Hero users will now be able to streamline their entire payroll process from start to finish with a professionally managed payroll service. Instead of worrying about processing payruns, they can leave it to the experts. This means pay runs are completed with full visibility through the Employment Hero platform, with dedicated payroll experts on-hand to handle everything. This means better support, accuracy, and compliance.

And for our accountant and bookkeeper partners?

Accountants and bookkeepers using Employment Hero can now spend less time manually running payroll and more time providing analysis and advice to their clients. AI and automation will do the heavy lifting, allowing the experts to put their skills to more valuable work. This might include helping their clients make sense of their payroll, or gathering insights to guide them towards data-led decisions on the future of their business. We value the relationships we’ve built with our accountant and bookkeeper partners.his acquisition helps us increase our value-add and collaborate in more meaningful ways. This acquisition will benefit our users in many ways. From saving time by automating payroll processes, to reducing costs through streamlined payroll management– and all with the option to have payroll and HR managed by experienced professionals. We’re incredibly excited about this news and look forward to giving people time back in their busy lives. It’s how we’ll transform employment in 2024 and beyond. Discover more about our commitment to enhancing HR and payroll services with our recent $45 million funding raise.

How customers will benefit today

Employment Hero will now strike the perfect balance between human consultancy and Artificial Intelligence.

• Employment Hero’s payroll and HR platform will be AI-powered, with human support available to our customers for those that prefer expert payroll support and HR advisory services.

Employment Hero can now take care of everything from recruitment to the end-to-end payroll process, while allowing the customer to stay in complete control. The result will be seamlessly connected systems and workflows, in-platform self-service help and concierge, and complete oversight with built-in audit and exception reporting.