CloudPay Company Research Report
Company Overview
Name: CloudPay
Mission: To transform payroll processes into strategic advantages by providing a unified, global, cloud-based system for payroll, payments, and pay on-demand services.
Founded: The company was founded in 1998 as Patersons.
Key People:
- Roland Folz, CEO
- John Pearce, Chief Customer Officer
- Nick Webb, Chief Marketing Officer
- Andy Thomson, Chief Financial Officer
- Emma Streatfield, Chief Revenue Officer
- Eric De Keizer, Chief Operations Officer
- Timo Weber, Chief Strategy Officer
- Judith Lamb, Chief Human Resources Officer
- Pablo Sierra Peleteiro, Chief Technology Officer
- Charlotte White, General Counsel
Headquarters: Andover, UK
Number of Employees: Over 1,000 employees as of 2022.
Revenue: No information is available.
Known For: CloudPay is recognized as a global leader in payroll and payment solutions. The company is particularly known for its comprehensive pay services that encompass payroll, payments, and on-demand pay in over 130 countries.
Products
1. Global Payroll
- Description: A seamless, unified solution for managing payroll across multiple countries with real-time visibility and compliance.
- Key Features:
- Automated payroll processing
- Real-time analytics and reporting
- Standardized data formats for global reporting
2. Global Payments
- Description: Fast and secure payment solutions that support payroll across different currencies and banking systems.
- Key Features:
- Instant salary payments using Visa Direct
- Integrations with major financial platforms
- Treasury services for cash flow management
3. Global Pay On-Demand (CloudPay NOW)
- Description: Allows employees to access their earned wages before payday, anytime and anywhere.
- Key Features:
- Mobile app for instant pay access
- Integration with the global payroll system
- Employee self-service features
Recent Developments
- New Products and Features:
- The introduction of the CloudPay NOW app in 2021, which provides global earned wage access.
- Launched integrations with major platforms like Workday, SAP SuccessFactors, and Oracle in recent years.
- Continuous enhancements to the CloudPay platform, focusing on automation and analytics capabilities.
- New Partnerships:
- In 2022, CloudPay announced partnerships with Oracle and HiBob.
- In March 2022, CloudPay partnered with Visa Direct to enable fast digital payments, reducing payroll cycles significantly.
- Ultimate Software partnership and Connect 2.0 Framework were launched in 2018.
- Funding and Acquisitions:
- Raised $58 million and $50 million funding rounds in 2021 and 2022, respectively.
- Acquired Wezaam Advanced Technologies S.A. in 2021.
- Awards and Recognition:
- Recognized as a Major Contender in Everest Group’s 2024 Multi-Country Payroll PEAK Matrix Assessments.
- Winner of CorporateVision’s Best International Payroll Solutions Company 2023.
- Other Developments:
- Moved its strategy forward with the arrival of Roland Folz as CEO in 2023.
- Expansion into multiple countries with new offices, including significant growth in regions such as China, France, the Philippines, and Spain.
This report provides a comprehensive overview of CloudPay, focusing on its core offerings, leadership, and recent strategic movements within the global payroll and payments sector. The company’s path is marked by innovation, strategic partnerships, and a strong global presence, making it a leader in modern payroll solutions.
