SAP Hungary and Salarify Announces Partnership To Enhance Payroll Innovation
(Budapest, Hungary, 2022.05.23.) The Hungary based Swipe Technologies Kft – the company behind Salarify – announced its partnership with SAP Hungary to offer digital employee benefits and income verification services to SAP customers throughout Europe.
SAP has always been at the forefront of digitizing business processes for companies. One of the key areas in which SAP has extensive experience is human resource management, from recruitment, through motivation to remuneration. With its popular software families such as SuccessFactors or Qualtrics, SAP customers are able to maintain high levels of employee satisfaction, pursue competitive and cost-effective compensation policies, and create an inspiring and progressive corporate culture.
Nevertheless, SAP has always been open to incorporating special elements into its HR management systems to further enhance employer and employee engagement. One such special challenge is handling weekly or even daily payments that differ from the traditional monthly payment schedule. This is the case, for example, in the hospitality industry, tourism, construction, or other sectors where the workforce is usually employed on a project basis or traditionally with high turnover. This form of accounting is also preferred for employees who do not have financial reserves and have lower-than-average savings opportunities.
With the solution developed by Salarify, employers get a bridging financial solution for the periods between traditional monthly payments, with full management of the associated administration and adequate compensation for the associated transaction costs.
The cooperation of SAP and Salarify focuses on a shared mission of the two companies: to enhance digitalization and innovation in HR and Payroll. As a result of the partnership, SAP Hungary clients can offer Earned Wage Access as a benefit to their workforce and boost employee retention. In addition, they can say goodbye to paper-based administration related to income verification and implement a fully digital solution.
Salarify is an Earned Wage Access and Income Verification product solution based in Budapest, Hungary. The company’s focus is on building inclusive and accessible financial products, leveraging its proprietary payroll and banking systems integrations to streamline employees’ access to liquidity. Salarify envisions salaries as a dynamic balance to be used by employees on a daily basis, while providing employers with an innovative, fast and fully customizable salary payment solution to lead their company into the future of payroll. Salarify is currently the leading provider of Earned Wage Access in Hungary. In 2022 the company is expanding its geographical presence in EMEA, further developing its ecosystem of products and infrastructure for consumers and corporate clients.
For Swipe Technologies Kft – developer of Salarify –, this partnership is a great opportunity and a strategic step towards market expansion. Cooperating with such a well-known and trusted player of the industry can kickstart the company’s international scaling, winning the trust of the first clients when entering into a new market.
Bence Radák, CEO of Salarify said:
“We are happy to work with an industry leader who welcomes innovation. Helping employers and employees just became easier for us, with the support of SAP Hungary, we can reach and serve more people than ever.”
Szabolcs Pintér, MD of SAP Hungary explained:
“SAP has a comprehensive suite of solutions for all tasks in the field of HR management. However, in the past and in the future, we were and will be ready to cooperate if a professional solution is present in the software market. This cooperation gives Salarify the access to a customer base that would have taken place over a long period of time through its organic and independent development, and SAP is able to provide an even more advanced HR portfolio to its customers.”
Dénes Attila / Communication Lead
SAP Hungary, South-East Europe
+36 70 336 8306
Leiker Flóra / Marketing &PR Lead
Swipe Technologies Kft
+36 70 325 5195