PayFit user: Jerry Chen, Team Builder
Location: London, UK
Number of employees: 35
Favourite feature: Finalise payroll dashboard
Flux, founded in 2016, is a digital receipts and rewards platform that lives inside banking apps. Their mission is to remove paper receipts from transactions and instead provide digital receipts for users.
When Flux is fully connected to someone’s banking app, Flux themselves will get access to certain information about purchases that have been made at supported retailers. This will include the shop's location and the time of the purchase.
Flux will then use this information to find the transaction and create a digital itemised receipt using the information provided by the retailer. They will then transfer the receipt directly to the bank account, meaning that the user will be able to access it whenever they require.
Prior to using PayFit, Flux’s payroll process was extremely manual. It required a lot of email exchanges, many spreadsheets and lots of manual reconciliations.
Each month, the payroll cycle was taking up to two weeks to complete, and as the headcount continued to grow, it became apparent that the manual nature of payroll administration was not going to be sustainable.
Jerry, Team Builder at Flux, heard about PayFit from another startup as he was looking for a payroll software that could provide a cloud-based and automated solution. He also wanted to reduce the amount of time he was spending processing payroll each month in order to focus on more important and high-value tasks.
PayFit was there every step of the way to ensure that the transition went as smoothly as possible. From migrating existing data from Flux’s previous provider to the PayFit app, as well as the rigorous onboarding process, PayFit did everything to ensure that the whole process was seamless.
PayFit was able to reduce Flux’s payroll cycle from two weeks down to just two days, and thanks in large to the continued and dedicated support of PayFit’s customer success team, Jerry was able to have all of his questions answered quickly and efficiently.
PayFit works well for startups because the automation means that you don’t need teams of people to manage a hugely bulky administrative process. Because it’s all automated, it leaves people free to do some of the more important things that are more critical to the business.