Company Research Report: Skuad
Company Overview
Name: Skuad
Mission of the Company: Elevate lives by democratizing talent and opportunities globally.
Founded: 2019
Founders: Sundeep Sahi
Key People:
- Sundeep Sahi (Founder)
- John Caplan (CEO, Payoneer)
Headquarters: Singapore
Number of Employees: 200
Revenue: No information is available.
What is the Company Known For:
Skuad is known for simplifying international hiring and providing solutions to manage global payroll, onboarding, and compliance in over 160 countries.
Products
Global Employment Platform
High-Level Description:
Skuad provides a unified platform that allows companies to hire, onboard, manage, and pay employees and contractors globally without the need to set up local entities.
Key Features:
- Compliant Onboarding: Digitally onboard employees and contractors in minutes.
- Global Payroll: Manage payroll securely and in multiple currencies.
- Local Compliance: Ensure compliance with local employment laws.
- Employee Benefits: Manage country-specific employee benefits packages (medical, dental, vision, pension, etc.).
- Tax Management: Handle tax documents and filings compliant with local regulations.
- Integrated Payments: Streamline payments with optimal exchange rates.
Skuad Pay
High-Level Description:
Skuad Pay provides detailed payment transactions and downloadable receipts, aiming to simplify payroll and financial record-keeping.
Key Features:
- Bulk Invoice Payments: Simplify payments by managing multiple invoices at once.
- Detailed Payment Views: Access detailed views of invoices, credit notes, and payment methods.
- Downloadable Receipts: Keep seamless track and bookkeeping with downloadable payment instructions and receipts.
Hiring and Team Management
High-Level Description:
Skuad offers tools for hiring and managing teams across borders.
Key Features:
- Localized Support: Provides support for hiring contractors globally.
- Market Insights: Calculate the cost to hire in different countries.
- Employee Management: Handle onboarding, offboarding, and time-off requests efficiently.
- EOR Capabilities: Offers Employer of Record (EOR) services to simplify employment-related compliance.
Recent Developments
Acquisition by Payoneer
- September 2024: Skuad was acquired by Payoneer, a financial technology company, for $61 million in cash, with the total deal potentially reaching $81 million based on performance and employment criteria.
- Integration Plans: Payoneer plans to integrate Skuad's payroll and contract management solutions into its offerings.
Product Updates
- July 2024:
- Auto Debit and Bulk Upload for Time Logs: Introduction of setting up Auto Debit with new hires workflow and submitting time logs with a single file upload.
- June 2024:
- Two-Factor Authentication: Enhanced security with two-factor authentication.
- Seamless Offboarding Requests Flow: Streamlined offboarding processes.
- Bulk Time-Off Upload Capability: Easier management of time-off requests through bulk uploads.
- March 2024:
- Cost Calculator: Introducing a new cost calculator for precise hiring costs.
- Comprehensive Dashboard: Improved dashboard for better user experience.
- MSA Access and Simplified Time Logs Interface: Enhancements for ease of use.
- January 2024:
- Bulk Import Payroll Adjustments: Feature to bulk upload payroll adjustments.
- Clearer Payroll Invoices: Quick summaries and comparisons for payroll invoices.
- Improved People Management: Simplified way to manage people details.
New Features and Capabilities
- October 2023:
- Detailed Payment Transaction Page: Offers detailed views of invoices, credit notes, and payment methods.
- Downloadable Receipts: Enables seamless tracking and bookkeeping.
- September 2023:
- Advanced Payroll Calendar: Enhanced payroll management.
- Direct Debit for Europe and Australia: Extended auto/direct debit features.
- Secure Identity Verification: Introduction of Veriff for secure identity checks.
- Simplified Contractor Invoicing: Streamlined processes for contractor management.
New Partnerships
No new partnerships information available.
This report provides a comprehensive overview of Skuad, its product offerings, recent developments, and strategic acquisitions and integrations. The company's focus on global employment solutions is enhanced through its recent acquisition by Payoneer, promising a broader scope and advanced features for its clients.
