SOURCE: CloudPay

CloudPay

February 11, 2015 07:00 ET

CloudPay Reports Robust Growth in 2014, Builds Strong Momentum for 2015

Over the Past Year, Company Welcomes High-Profile Clients, Expands Product Offerings and Adds to Leadership Team

RALEIGH, NC and LONDON, UNITED KINGDOM--(Marketwired - Feb 11, 2015) - CloudPay, the world's only cloud-based platform for integrated global payroll and payments, today announced highlights of its successful performance over the past year. Throughout 2014, CloudPay experienced robust growth as it attracted numerous large multi-national clients, brought new innovations to market, expanded its leadership team, received high-profile industry recognition and gained significant momentum with its partnership with Workday and the Workday certified interfaces program.

"CloudPay's mission is to create market-leading technology and use our payroll expertise and knowledge to revolutionize payroll and payments for multi-national organizations; our strong performance in 2014 enabled us to further enhance this work," said Andrew Pearson, CEO of CloudPay. "As multi-national companies continue to struggle with managing the complexities of payroll around the world, our solutions provide the answers they need to create a better way to manage global payroll and payments."

Welcoming New Clients
Driving CloudPay's successful 2014 performance was the addition of many new clients who recognized the strength of the company's industry-leading global payroll and payments solution in providing the visibility and control to manage their payroll successfully. Among CloudPay's new clients are several leading multi-national organizations, representing a wide range of industries and with operations across the world, including:

  • A global consumer payments business
  • A leading global supplier of communications and security products
  • A leading producer and refiner of chemicals
  • A leading provider of music streaming services to listeners around the world
  • The global leader in Voice over IP (VoIP) communication services and applications
  • A leading provider of airport baggage handling systems and air cargo handling

New Product Launches
The company's ability to attract new business is driven by its innovative cloud-based product offerings, which were expanded in 2014 with the introduction of two cutting-edge products, CloudPay Insights and CloudPay Control. Released in August, CloudPay Insights is the company's enhanced global payroll reporting solution and the industry's only common technology platform that enables multi-national organizations to dig into their global payroll data to identify workforce trends, find hidden costs and make more effective, better informed business decisions. With enhanced dashboarding capabilities, CloudPay Insights provides users at all levels with the flexibility to create customized reports and enable deep analysis that leads to reduced costs, decreased time spent on administrative tasks and optimized talent strategies.

Later in 2014, CloudPay unveiled CloudPay Control, a pioneering solution that enables organizations to address the complexities of global payroll, from the numerous relationships between people, departments, organizations and systems as well as the multitude of various requirements and tasks. CloudPay Control simplifies all steps of multi-country payroll workflow by automatically combining the global-, country- and customer-specific tasks of an individual payroll run into a cloud-based workflow process, providing a truly modern payroll experience.

Appointment of New CTO
CloudPay also expanded its leadership team with the appointment of Gareth Hughes as its new chief technology officer. Since joining CloudPay in 2010 as a technical architect and U.K. development lead, and later assuming the role of head of Development, Hughes had demonstrated the ability and technical expertise to guide the company's ongoing development and drive continued innovation. As CTO, he is responsible for leading the continuous improvement of CloudPay's cloud-based, integrated global payroll and payments platform and overseeing the company's technical operations.

Workday Partnership and Certified Interfaces
Over the course of 2014, CloudPay gained significant momentum in its partnership with Workday, particularly with its Workday certified interfaces. Through these interfaces, CloudPay facilitates the flow of data from Workday's native payroll integration capability back to the CloudPay system, enabling efficient payroll processing to dozens of countries around the world. In addition, CloudPay presented its industry-leading payroll solutions and integration with Workday at Workday Rising 2014, the company's annual user conference, as a Workday partner and gold sponsor of the event.

Industry Recognition
CloudPay also received high-profile industry recognition for its robust growth, being ranked #155 on the Montclare SaaS 250, a list identifying the 250 most successful software-as-a-service (SaaS) companies in the world. In addition to this recognition, the company continues to expand its position as the leading expert and provider of global payroll solutions, sharing its subject matter expertise in the form of comprehensive white papers, informative webinars and a monthly column in Purely Payroll magazine.

Holger Mueller, principal analyst and vice president of Constellation Research, Inc., commented, "As more companies leverage the global workforce to meet business objectives, the process of compensating employees around the world proves to be particularly challenging. To manage the intricacies involved, multi-national organizations are adopting cloud-based payroll solutions to achieve a consistent, accurate and compliant approach. With international expansion now the norm for businesses today, the global payroll solutions market is poised for rapid and continuous growth."

Looking to the Future
"CloudPay has performed far beyond our own expectations in 2014, bringing new possibilities to what payroll can do and further differentiating ourselves from the competition," said Pearson. "Although we are still only in the beginning of 2015, we are already building on our strong momentum from last year and anticipate ongoing success as we continue to bring new innovation to the global payroll space."

About CloudPay
CloudPay is the world's only cloud-based platform for integrated global payroll and payments processing, collaboration and delivery. We believe that collaboration and integration are the only ways to address the complex and valuable challenge of how to manage global payroll and payments. We're creating market leading technology and using payroll expertise and knowledge to revolutionize payroll and payments for multi-national organizations. CloudPay enables multi-national organizations to improve business performance through greater fiscal control, see people costs through enhanced visibility, assure local and global compliance, and reduce payroll and payment operational costs. For more information about CloudPay, please visit www.cloudpay.net or visit us on Twitter @_CloudPay.