KarbonPay is founded by CapeTown entrepreneur Brad Price. who identified the need for a cross-border payroll system, having worked with an international payroll company, Fingo.
According to an interview on Bizcommunity, Brad reveals that the company launched its product in September last year even attracting 25 companies to run its payroll in the first month. There are ongoing plans to onboard 65 other companies.
KarbonPay promises a unique approach to payments and payroll processing wherever you are. The technology automates the most complex payroll calculations while taking into account complex labor and employment regulations often unknown to most employers. Lots of attention was invested in simplifying the process akin to clicking a button.
Brad’s previous experience at Fingo HR that ran multi-country HR solutions, ensuring HR compliance and other complex cross-country payrolls across 14 different countries spread out over 4 continents.
From his past experience he points out the slow nature of manual processes when breaking down the gross-to-net calculations that can drag on for five business days. The result is high operational costs, unsustainable timelines, poor data security, inaccuracies, and unreliable reporting.
KarbonPay is firmly embedded in the recent shift towards cloud-based technology with a key focus on data security of the payroll industry. Clients can take advantage of the 30-day free trial once they sign up.