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Article Image - Employment Hero Acquisition Enables World’s First Fully Automated Payroll Situation
Posted 10th April 2024

Employment Hero Acquisition Enables World’s First Fully Automated Payroll Situation

Global employment management platform, Employment Hero, has announced the acquisition of Employment Innovations, one of the largest managed payroll providers in the world.

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Employment Hero Acquisition Enables World’s First Fully Automated Payroll Situation
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  • From today, UK SMEs will benefit from a unique dual approach: AI-powered payroll automation with expert human touch – saving SMEs up to 80% in payroll processing time 
  • Pay runs that previously took days or weeks will happen instantaneously, error free.
  • Employment Hero is the first technology provider in the UK to offer an all-in-one HR and payroll solution
  • The acquisition will accelerate the development of the world’s smartest AI for payroll.

Global employment management platform, Employment Hero, has announced the acquisition of Employment Innovations, one of the largest managed payroll providers in the world. 

Employment Hero, who were the first technology company to offer automated payroll in the UK, announces this strategic merger which will streamline entire payroll processes for SMEs by combining world class software with expert managed payroll services to deliver faster, accurate, compliant payroll in a unified, all-in-one platform.

From today, SMEs across the UK can benefit from a new, dual approach to payroll: cutting edge automation, alongside human touch. This means pay runs completed with full visibility, all powered by the Employment Hero platform, with dedicated payroll experts on-hand to ensure compliance and accuracy.

AI and automation will do the heavy lifting, allowing humans to put their skills to more valuable work. 

“This is an important milestone in our journey towards building the very first fully automated payroll solution and becoming the world’s largest employment management platform. Businesses are learning to embrace technological advancements like AI, but it’s crucial that we meet them halfway. Our acquisition facilitates this. Not only does it empower us to train the most accurate AI possible, but it also provides our customers with the additional reassurance of human interaction. Technology is an enabler, it’s not something to be feared. Joining forces with Employment Innovations demonstrates a harmonious coexistence between AI and human expertise,” said Ben Thompson, co-founder and CEO of Employment Hero.

“Our customers are time poor and under-resourced, providing an all-in-one solution gives them time back to focus on building their business and offering more jobs. It also advances our mission to make employment easier and more valuable for everyone.”

Currently, around 60% of UK SMEs outsource their payroll processes. Processing wages is cited as one of the most time-costly processes for all industries, with the majority of pay runs regularly taking up to a week to complete*. It’s predicted that this new offering will save SMEs 80% in payroll processing time, as pay runs that previously took days or weeks will happen instantaneously, and will be error free. 

Employment Hero is the only technology company in the UK offering an all-in-one, fully automated HR, recruitment and payroll solution for SMEs. This is especially beneficial for business owners who don’t have the budget to invest in multiple technology providers. 

With over 30 years managed payroll experience, the acquisition of Employment Innovations will enable the development of the world’s smartest payroll AI. Unlike other solutions, which purely automate the repetitive aspects of payroll, it will be trained to automate the most complex of payrolls by analysing individual pay runs. In doing so, Employment Hero will deliver increased payroll efficiency and accuracy for thousands of businesses across the globe.

Categories: Finance, M&A, News


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