PaySauce sets sights on embedded payroll

PaySaucesetssightsonnewopportunitywith
embeddedpayrollproofofconcept
LowerHutt,NewZealand-12November2023
EmploymentfintechPaySauce(NZX:PYS)announcesanewagreementtodeliver
aproofofconcept(POC)forembeddingitspayrolltechnologywithina
third-partyemploymentsolution.
Theagreement-assumingthePOCdeliversonitsobjectives-isexpectedto
deliverasignificantuplifttoAnnualRecurringRevenue(ARR)andopen
significantnewopportunitiesforPaySaucetogrow.Thecounterpartytothe
agreementremainsconfidential.
TheinitialPOCwilldeployPaySauce’snewGen2.0PayrollEngine,thetechnology
attheheartofthemicro-businessappPaySauceisdevelopingtospearheadits
growthinAustralia.CEO,AsanthaWijeyeratne,saidtheagreementisthefirststep
todemonstratingthatourre-architectureofPaySauce’stechnologycanleadto
acceleratedscalability.
“Embeddingourpayrolltechnologyintoemploymentsoftwarethat’salreadyin
themarkethasbeenalong-standinggoalforPaySauce.We’vealwaysknown
employmentsoftwareprovidershavewantedasolutiontheycoulddeployin
multiplejurisdictions.Theseprovidersarerapidlyconsolidatingandwiththat
move,demandisgrowingforpayrollsolutionsthatcanbequicklydeployedin
multipleterritories.
“OurGen2.0PayrollEngine,canbeconfiguredtocomplywithcomplexpayroll
rulesinanyjurisdictionaroundtheworld.Byopeningtheenginetothirdparty
solutions,wecanreachmoreendusersfaster.Iexpectthisagreementoverthe
mediumtermtodriveastep-changeinourrevenuegrowthandimportantly,our
operationalcashflowwhilewebuildourAustralianmicro-businesspayrollapp.It
isanexcitingdevelopmentforthecompany.”

IMPACTOFEMBEDDEDPAYROLLONTHEKEYBUSINESSMETRICS
●
Revenue:ImmediateandsignificantupliftinARRresultingfromanynew
partners.Pricingissetatratesperpayslip,withminimumvolumesforthe
periodofthecontract.Contractperiodswillbefixedtermovermultiple
years.InNewZealand,PaySaucewillcontinuetoearninterestonthe
additionalfloatbalancesheldfortheendusersoftheembeddedpayroll
solution.
●
Cash:Minimumvolumeswillbeinvoicedannuallyatthestartofthe
period,injectingcashearlierthanthedirect-to-consumermodel.
●
CustomerAcquisition:Longerinitialsalescycle,thennocosttoPaySauce
asthepartneracquiresnewcustomers.
●
CosttoServe:Thepartnerownsthecustomerrelationship,thereforethere
isnoPaySauceCustomerSupport.
●
Developmentcost:Greatertechnicaldevelopmenttodeliverthe
integrationupfront,andmaintainongoingServiceLevelAgreements
(SLAs)fromatechnicalperspective.
●
Endusers:Employersofstaffinmultiplejurisdictions,usinganEmployer
ofRecord,oraggregatedthroughanotheremploymentsolution.
CEO,AsanthaWijeyeratnewillbepresentingtheInterimReportforthesix
monthsended30September2023onWednesday22November,at10.00am
(NZDT)ataninvestorandmediaconference.Registeryourinterestbyemailing
investor@paysauce.combefore5.00pmonMonday,20November.

ReleasedforandonbehalfofPaySaucebyJaimeMonaghan,ChiefFinancial
Officer.
ENDS
ABOUTPAYSAUCE
PaySauceisaSaaSfintechplatformprovidingsolutionsforpeopleatworkin14
jurisdictionsacrosstheAsia-Pacificregion.Thetechnologyenablessmall
employerstodigitallyonboard,payandmanageemployeesfromanydevice.The
platformincludesrosters,mobiletimesheets,payrollcalculations,banking
integration,automatedpayments,PAYEfiling,labourcosting,automatedgeneral
ledgerentriesanddigitalemploymentcontracts.ThePayNowfeatureenables
customers’employeestoaccessthepaythey’veearnedbeforepayday,providinga
freealternativetopaydaylenders.
www.paysauce.com
CONTACT
AsanthaWijeyeratne
CEOPaySauce
+6421554600
Pleasedirectanyinvestmentqueriestoinvestor@paysauce.com.