Payflow Spanish startup salary real time collection offers - This is how Payflow works, the Spanish startup that offers to collect your salary in real time: Scalpers, one of its clients, highlights improvements in productivity and motivation in its workforce.

Fewer and fewer workers have to wait at the end of the month to receive their salary, as evidenced by the takeoff in the number of companies that hire the services of startups that offer the possibility of collecting the part of the salary that has been generated so far, which allows to avoid the trouble of waiting at the end of the month or having to request an advance at work in the face of an economic unforeseen.

Among those proposals that are generalising this new format of retribution in real-time highlights the case of Payflow, a Spanish startup created in march of 2020, in a full pandemic, by 2 alumni of the Massachusetts Institute of Technology (MIT), Avinash Sukhwani and Benoit Menardo, that in the last 15 months have managed to accumulate more than 100 clients, as Scalpers, Covirán, Camper, Isdin, Manolo Bakes or Five Guys, among others.

Payflow Spanish startup salary real time collection offers

Sukhwani and Menardo acknowledge that the idea of Payflow arises precisely from their stay in the US, where they verified that many workers accessed their salary more than once a month. 10 years later and after their passage through strategic consulting, they launched Payflow before the potential they detected for real-time salary both in Europe and in Spain in particular.

However, the co-founders distance themselves from other real-time salary proposals in Spain. "Right now there is no provider in Spain that has a financial well-being platform as complete as Payflow, which addresses the 3 keys to financial well-being: liquidity, learning and saving. In fact, we are the leading Spanish provider of salary on demand, " they say.

In addition, Sukhwani and Menardo highlight that Payflow is distinguished by its team, which points out its diversity, dynamism and youth, the satisfaction of its customers, specifying that its loyalty rate is 100%, and its ability to adapt to all types of customers. "Even with large companies like Covirán, with thousands of employees, with high technology and security requirements. Being able to meet these requirements is helping us a lot to grow fast," they explain.

Payflow Spanish startup salary real time collection offers

In fact, the architects of Payflow highlight that its system is able to integrate with a wide variety of payroll systems, such as SAP, Sage or A3 Software, among others, which has facilitated its growth and the acquisition of all types of companies. "Our clients are companies that want to become a reference place to work, companies of all sizes and sectors that put employee happiness as a priority," they point out.

Therefore, they plan to continue increasing their customer base. "Of course we intend to increase the payroll of customers throughout this year, right now we have thousands of users on our platform, but we want to reach millions of users", they say, highlighting the recent signing of the president of Hospitality Innovation Planet and former president of Autogrill, Octavio Flames, as a senior advisor.

Payflow Spanish startup salary real time collection offers: "Only with this agreement we intend to get 50,000 employees in the hospitality sector have our remuneration system before the end of the year", emphasize Avinash Sukhwani and Benoit Menardo. In addition, they downplay the fact of being born in a pandemic, highlighting that the coronavirus has promoted the digitalization of people management and has generated "an opportunity for growth" for their proposal.

In fact, the pandemic has not prevented Payflow from successfully closing 2 funding rounds, of 1.6 million euros in July last year and 2 million in February. "As for the secret of our success with investors, one of the most important factors is that we have a team of more than 15 different nationalities, and they have worked for large companies such as Rocket Internet, BCG, Bain, Michael Page, Oracle, Ebay and Uber," they say, predicting another round in 2021 or 2022.

As for the operation of Payflow, its founders explain that it allows the worker to collect their salary in real time with a single click on their mobile. "With our service, the monthly salary is over, employees can collect daily, weekly or adapting to their collection and payment cycles, without financial shocks," they say, adding that their app also offers an interactive financial education platform and allows you to save by objectives with an automated virtual piggy bank.

Payflow Spanish startup salary real time collection offers

"The advantages that Payflow brings the companies are numerous, but the main one is the possibility of taking care of the financial well-being of their employees, which is then reflected in higher productivity, better employer branding and employee experience, reduction of rotation, less stress, etc," explained Menardo and Sukhwani, highlighting that their application is "easy, agile, and safe", that its operation does not alter the cash flow of the companies and the flexibility it offers to employees.

"The world is more and more immediate. Before it was unthinkable to rent an office less than a month, and now you can rent for weeks, even days. Same with cars, you can rent them by minutes! But still a majority of people can only get paid once a month. Charging on demand is something that, sooner or later, had to come," say the co-founders of Payflow.

To corroborate the advantages that the confounders of Payflow stand out from their system, the source has contacted one of its customers, the Sevillian fashion firm Scalpers. Its president and founding partner, Borja Vázquez, responds emphatically:" The experience with Payflow is being very positive, " he says, stressing that this is his first experience with the new dynamic pay formats.

"From an administrative point of view, implementing Payflow was a very easy process, neither integration nor communication was a burden for our team," says Vázquez, detailing that the startup was responsible for integrating its solution into its payroll system and communication plan to present its advantages to its staff. "In fact, the reception of the team was also very good. We have an adherence rate of 50%, " he says.

Payflow Spanish startup salary real time collection offers: Given this welcome, the president of Scalpers considers that they have found in Payflow a useful solution for their workers that is also generating a positive impact on the company. "We have noticed changes in productivity and motivation, which we believe are mainly given by the reduction of financial stress that involves having a service like Payflow," he says, stressing that his staff is taking advantage of the possibility of accessing their salary immediately.

Borja Vázquez explains that his priorities are innovation," to evolve as a company", as well as the well-being of his team. "What can we do so that they come to work at ease? In the end, they are the ones who take Scalpers forward, so our goal is that they want to continue growing and working with us," he emphasizes, noting that the advantage of increasing the financial well-being of their employees that Payflow offers motivated them to get it started.

In addition, the president of Scalpers states that before his experience with Payflow they had not considered innovating in terms of remuneration, although he acknowledges that it was an area with room for improvement. "Because this initiative has gone so well, we are open to more social benefits where we see that we are really going to help our employees and make a difference in their well-being," concludes Borja Vázquez.

# Payflow Spanish startup salary real time collection offers #