Forget everything you know about payroll systems. With Zenegy, we're challenging the existing market and setting completely new standards at the same time.
Everyone loves getting paid. Correctly calculated. And on time. But the traditional payroll systems as we know them today are not quite so popular – in fact, sometimes much criticised – and at the same time the digital generations of employees increasingly need to have their pay figures served up interactively and digitally.
With Zenegy, we're now making a big move on this with a cloud-based payroll system aimed at accountants and bookkeepers, for all types and sizes of company – in fact, the move is so significant that the traditional payslip will no longer land in the letterbox but will be replaced by an app that is conveniently available on every platform.
Behind the innovative start-up Zenegy are CEO Jes Tækker Stemann Brinch, former business development director at e-conomic, and co-founder Jacob Wandt.
Jacob Wandt made his name as an entrepreneur extraordinaire when in 2013 he made his fortune from the sale of the accounting software e-conomic, and he has recently acquired a 48 per cent stake in Zenegy for an undisclosed sum in the millions, to join as an active partner. In doing so, Jacob Wandt returns to the very same Danish start-up scene he has conquered before, in such a striking way that it can't help but attract attention both at home and abroad.
With a completely unique design and state-of-the-art IT infrastructure – the most digitalised and automated payroll system for companies, accountants and bookkeepers – we're now ready to challenge a market whose lack of development has left a big gap for modern solutions.
If you ask us, the prospects are unmistakable. With Zenegy, we're setting completely new standards and opening up a new world where payslips are made interactive through an app. This means employees get a full overview of their current pay, holiday and pension data, and can also report holiday, sickness, mileage and the like themselves, directly from the app.
One of the things that sets Zenegy clearly apart from other payroll systems is the ability to let all data flow between the payroll system itself and other systems. So it's far from only employees who can look forward to the many benefits of the new, integrable technology platform: for bookkeepers, accountants and business owners, the system means faster and more automated workflows – for example, hours or out-of-pocket expenses registered in other administrative systems will be updated completely automatically. As the first payroll system, Zenegy is challenging the market with a so-called open API. A technology platform that means we can build faster, deeper and more advanced integrations than conventional payroll systems, including with app partners such as e-conomic.
Besides enormous insight from building one of the world's leading cloud-based finance systems, we also have experience with go-to-market strategy for administrative solutions for accountants and bookkeepers. We therefore expect to pass 20,000 employees in Zenegy after just the first year. The ambition is 500,000 employees in five countries in five years.
It's about supply and demand. A demand for a sharper, simpler, higher-quality solution than the traditional, old-fashioned payslip can deliver. With the pressure the new, digital generations of employees are putting on their employers to have their pay figures served up interactively and digitally, we certainly believe it's a realistic ambition.
