PaySpace is a South African HR and payroll processing company and the brainchild of the Insight IT Group. Launched in 2000, the company has its headquarters in Johannesburg. While PaySpace primarily operates in South Africa, it serves 43 countries in Africa. PaySpace is a cloud-based software that allows businesses to manage their payroll and HR activities, regardless of the location. You only need reliable internet and a connected device to run the software.
PaySpace packages its offerings depending on the size of your business. Startups and small businesses use PaySpace Lite, whereas Medium to Large enterprises use Payspace Premier. Global enterprise solutions use PaySpace Master, whereas businesses that want outsourcing solutions can opt for PaySpace Outsourcing. The company’s payroll outsourcing team handles all the legal activities for over 40 African countries and their currencies.
PaySpace has many features that make it stand out. For instance, the software allows for bulk actions. This feature lets businesses perform bulk entries when onboarding employees and splitting costs (variable and fixed). Another exciting feature is PaySpace’s general ledger integration API. Businesses can integrate their accounting software tools like Xero and Quickbooks no matter the size of their business.
Businesses running on the Premier and Master packages have access to a WhatsApp self-service chatbot feature called Pacey. Employees can sign up and use Pacey for official processes that would otherwise take a long time. This feature lets employees view their details, request leave, and register claims. Your employees can also request and receive their payslips in text or PDF format. Managers can also use this feature to send customized messages to their employees.
PaySpace is one of the most secure payroll processing platforms. The company is POPI act and GDPR-compliant, aligning with international privacy standards and best practices. PaySpace assures businesses that it runs frequent phishing tests and keeps its customers updated with regular emails.
Major Benefits of Using PaySpace
PaySpace has automated maintenance capabilities like data optimization, software updates, backup and disaster recovery, and performance monitoring. The platform lets you monitor logs and maintain audit trails necessary for security compliance.
PaySpace grows with your businesses. The lowest offering is ideal for startups with less than 25 employees. As your business grows, you can opt for the small business offering, then medium, and eventually large businesses.
Employees have access to self-service portals where they can access their tax documents, request leave, and even access their payslips. Managers can also access the portals to approve requests and access HR-related data.
PaySpace grants businesses access to cloud analytics to help interpret workforce data and transition it into much-needed information. Businesses can also use this feature to identify trends and inconsistencies.
PaySpace reports are country-specific, meaning they vary depending on the country where your business operates. The reports include statutory compliance needed to meet legal requirements. The reports are also available in the country’s local language to facilitate communication with local authorities.
How to Connect to PaySpace
A business that wants to connect with paySpace should do the following:
- Select from one of these options on the home page: PaySpace Lite, PaySpace Premier, PaySpace Master, and PaySpace Outsourcing.
- Contact a sales agent, where you’ll also submit your company name, official name, and contact details.
- Submit the number of active employees in your organization
- Give more details about your business.
The PaySpace sales agent will help you process your request.
