PaySpace, a pioneer in modernising local and global payroll software, has been awarded Transformation Project of the Year. The winning project implemented and integrated modern payroll and human capital management (HCM) services for a major financial institution, serving 50,000 employees across 45 legal entities in 8 countries.
In collaboration with Workday and the financial organisation, this work replaced the group’s on-premise ERP/HCM solution with Workday for HCM and PaySpace for Payroll. PaySpace is the first Workday Global Payroll Cloud Certified (GPC) partner with headquarters in Africa.
Overhauling the group’s human capital management by Workday and payroll implementation by PaySpace was a complex, technical, and multi-wave project. By automating 95 percent of integrations, PaySpace eliminated manual data entry and error correction, reducing labour costs and improving accuracy while complying with strict governance processes within the major financial service provider.
Success through collaboration
PaySpace worked closely with a leading financial institution and Workday to navigate numerous complexities inherent to such sensitive and vital systems, including:
● Bridging the gap between Workday and PaySpace’s implementation methodologies. PaySpace’s innovative approach involved developing a custom data balancing tool to handle massive data volumes exceeding traditional spreadsheet limitations.
● Enhancing Payspace’s integration to accommodate Workday data snapshots. PaySpace delivered a fully secure data migration directly from Workday in under 36 hours, saving up to 8 weeks’ manual work for all teams.
● Delivering a decoupled go-live, with Workday preceding PaySpace. PaySpace’s flexibility adapted the typical project approach and addressed this requirement by applying pragmatic alternatives.
● Implementing innovative solutions for data validation and integration with legacy systems and in-house data warehouses. PaySpace addressed these issues by leveraging its powerful API layer.
A win for enterprise technology
The scalability of the cloud-native PaySpace solution eliminated the need for expensive infrastructure upgrades, leading to long-term cost savings for the financial group and establishing a monumental milestone for large-enterprise HR and payroll modernisation.
“This project was anything but ‘business as usual’,” says Warren van Wyk, PaySpace CEO. “As with many complex, large, and entrenched enterprise systems, there was much to be gained but also a lot at stake and many moving parts. Additionally, this wasn’t an upgrade—it was a modernisation that required new changes and inherent risk. In most cases, a global enterprise would rather let sleeping dogs lie and not mess with those systems. But this enterprise customer knew it could gain significantly from this investment despite the potential turmoil, and Workday and PaySpace made it happen.”
The win adds to PaySpace’s momentum and mission, joining its Global Payroll Awards 2023 win for Payroll Innovation.
“We believe in the power of modern, cloud-native systems to revolutionise the payroll and human resources space, and our success for one of the major financial institutions shows why it’s the future of enterprise technology. Winning the award for Transformation Project of the Year caps a fantastic achievement, and I thank the Global Payroll Awards, our payroll peers, the financial group, and Workday for helping us achieve such recognition,” says Van Wyk,
PaySpace’s vision is to transform modern payroll from isolated software to enterprise-wide integrated solutions that serve multiple departments and thousands of employees. It creates new opportunities for access, cost-saving, and innovation—such as automated updates and enactment of regional payroll legislation, and Pacey, PaySpace’s employee self-service Whatsapp chatbot.
In 2024, PaySpace was acquired by Deel, the globe’s leading payroll and compliance provider. With this acquisition, PaySpace can bring even more payroll success to businesses across the globe, future-proofing businesses with Payroll & HR cloud-native software.
