From time to time we like to feature startups that have a unique offering to the SMB community.
This week we chose Wagepoint, an all-in-one online payroll solution for small businesses.
We caught up with Wagepoint’s CMO, Leena Thampan, who was nice enough to answer a few questions for us.
What’s the story behind Wagepoint?
Wagepoint started out in Halifax, Canada in 2012, with the idea to create a payroll software that was simple, fast and user-friendly, so that small business owners could stop worrying about payroll and focus on growing their business instead. We talked to hundreds of small business owners to determine what features mattered the most to them, and we ended up creating a product that had all the features they wanted and nothing they did not need.
What is Wagepoint?
Wagepoint is a simple, fast and friendly online payroll software for small businesses to pay their employees while keeping compliant with the government. We provide direct deposit functionality, CRA / WSIB remittances, year-end reporting for hourly and salaried employees or contractors.
Who is it Wagepoint for?
Wagepoint is perfect for small businesses (<100 employees) who are looking for a simplified cloud-based payroll solution that takes away the hassle of writing cheques and the stress of worrying about missed or late government remittances.
How does Wagepoint benefit businesses?
Wagepoint is a user-friendly software solution, which means that small business owners with limited to no payroll experience can be set up in a matter of hours. There is also the cost benefit because our software is priced almost 50% lower than larger payroll companies, and all the features a business needs are included in that price.
What’s something specific that customers love about Wagepoint?
Our commitment to customer service: our customers can reach us anytime through our in-app support and we try to respond within an hour, we seek out feedback from customers to help improve our platform, and have even supported our customers in charity drives, life events, and like to wish them happy birthday. We want to be the world’s friendliest support team 🙂
How much does it cost?
Our software has one plan, and it’s priced at ($20 base fee + $2 per employee) per payroll. There are no set up fees or year-end fees, and all the features we provide are included in this plan.
And because our plan is priced per payroll, it gives small business owners the flexibility of not paying if they don’t have a payroll to run.
Are there any future features or plans for Wagepoint you’d like to share?
Wagepoint recently launched in the US, which now makes us the first payroll startup to offer a software solution across all of North America. The next step is to work on some of our key integrations like QuickBooks (in progress), Bamboo HR, Deputy and other HR apps that can benefit our customer base.
We are also working on a number of proprietary modules, slated to launch in Q1 2015, that will make Wagepoint a complete compensation platform for small businesses – a one-stop shop that covers payroll, paid time off management, rewards, benefits and time tracking.