April 2022

Vendor News—April 2022


Canadian Payroll Association Changes Name, Logo

The Canadian Payroll Association (CPA) announced it will henceforth be known as the National Payroll Institute (NPI).

Founded in 1978, the CPA—now the NPI—has helped payroll professionals by providing essential expertise to help businesses reduce risk, increase productivity, and work alongside governments to shape legislation. The Institute currently has more than 40,000 members who have access to benefits including career development, education delivered online and in-person, networking events, and more.

“As the National Payroll Institute, we will remain dedicated to several of the same core values, including raising the profile of payroll, shaping the future of the profession, and elevating it as vital to the short and long-term wellness of every business in Canada,” said Sherisse Mason, Chair of the Board at National Payroll Institute. “However, this change comes with a promise to continue evolving and innovating, to lead the profession into the future by providing vital expertise that helps business run smoothly, advocating to governments to reduce the administrative burden of payroll, and building an even more engaged membership community.”

Visit www.payroll.ca for more information


Safeguard Global Acquires Global Upside

Safeguard Global, a global managed payroll and employer of record (EoR) services provider, agreed to acquire global EoR peer Global Upside. The acquisition is the third since 2019 for Safeguard Global, and according to the company, the next step to fueling an aggressive five-year growth plan and vision of supporting the future of work by curating a comprehensive global workforce, and employment platform offering.

The combined firm will serve more than 1,300 multinational client organizations and, according to the company, expand its global delivery footprint and capability to serve more than 70 countries directly through its owned legal entities, in-country offices, more than 1,600 employees, and platform technology.

The acquisition accelerates Safeguard Global’s country expansion plans, with a new market presence in East Europe, Middle East, Africa, Latin America, and Asia Pacific.

“The team at Global Upside built an amazing company with complementary solutions to ours,” said Bjorn Reynolds, CEO and Founder of Safeguard Global. “Adding entity setup to our portfolio bridges a critical gap that allows us to partner with clients seamlessly as their business needs evolve. This makes us unique because we are the only company to offer clients the technology and resources to grow compliantly with one single partner.”

Visit www.safeguardglobal.com for more information.


CloudPay a Winner in 2021-2022 Cloud Awards

CloudPay, a global provider of payroll processes, has been declared the winner of the cloud ERP/payroll category in the international cloud computing awards program, The Cloud Awards.

The Cloud Awards identifies and celebrates innovation in cloud computing from organizations of any scale and headquartered in any country worldwide. The program recognized CloudPay’s end-to-end payroll solution, particularly its CloudPay NOW functionality.

“Even employees can use CloudPay NOW, which is a next-generation solution for any business that has staff,” said Christopher Southall, Cloud Awards judge. “Empowering employees to withdraw earned pay on demand and to effectively set their own paydays is remarkable and could add real value for many businesses and their staff. Employees feel more valued when they have this flexibility, and here at the Cloud Awards we love to see innovation that improves employee satisfaction.”

Visit www.cloudpay.com for more information.


The Rohatyn Group to Provide Debt Financing to Mexican Lender Credito Facil

The Rohatyn Group (TRG), an asset management firm with expertise in emerging markets and real assets, announced that it will provide senior secured debt financing to Credito Facil, a provider of payroll and pension deductions loads (PDLs) in Mexico.

Founded in 2011, Credito Facil is headquartered in Mexico City with 47 local offices across the country. The company operates through formalized cooperation agreements (“convenios”) with government entities, and by targeting low and middle-income segments of the population that have limited or no access to credit from commercial banks, their payroll deduction loans foster financial inclusion.

“We are excited to expand our specialty finance reach to Mexico, a key market where TRG is active in renewable energy and public equities,” said George Monserrat, TRG’s Head of Private Credit Investments. “Payroll deduction loans are an attractive lending segment, and Credito Facil has substantial growth potential as shown by the recent signing of new convenios. We have now established a transaction financing structure in Mexico and look forward to supporting Credito Facil’s growth over the coming years.”

Visit www.rohatyngroup.com for more information.

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