For Simon, the deployment of great technology is not just for the purpose of achieving business success. It’s clear that he takes pride in PayCaptain’s role as a force for good in society.

Anna Buckle, PayCaptain’s Head of Employee Experience, says, “Low financial resilience and the anxiety it creates has a direct impact on productivity and workplace harmony. Stressed employees carry a real cost to bottom-line performance and company culture. We’ve set out to create a transformative service that responds to the needs of those forward-thinking companies which recognise the importance of good financial wellbeing in their workforce.

“It’s our mission to put people in control of what they earn by giving them the tools and information that enable them to manage their money in the best possible ways – thereby reducing the negative effects of financial stress in the workplace.”

In just two years, PayCaptain’s payroll software has been approved by HMRC and registered with the Financial Conduct Authority. In 2022, it became the first payroll business in the world to achieve B Corporation Certification for its commitment to being a force for good and won the Software Product of the Year category in the 2022 Chartered Institute of Payment Professionals Excellence Awards.

PayCaptain’s game-changing approach has also attracted the attention of the UK Government’s innovation agency, Innovate UK, in the form of a £400,000 grant, part of national efforts to improve financial security in the workplace.

The award will help PayCaptain embrace more Salesforce functionality to support employees to make informed choices about their personal finances. Using research and behavioural insights, features such as Einstein Next Best Action and Einstein Recommendations will provide personalised advice and guidance to employees at key landmarks in the employment lifecycle – such as whether to increase pension contributions.

Said Simon: “When we set out to supersede clunky, inefficient legacy payroll systems with a modern, AI-powered service that puts experience first, we had faith that forward-thinking companies would be quick to see the potential.

“We’ve been hugely gratified by the rapid success of PayCaptain in 2022. We’ve always wanted to help people gain the best possible understanding and control of their money. For employers, the benefit is simple – financial worry among staff is one of the most significant drags on productivity. What PayCaptain offers couldn’t be more relevant to today’s challenges – and smart businesses are seeing enormous value in our service and innovations.”

With its proven Salesforce technology platform and a super-efficient, innovative, and feature-rich service in demand, PayCaptain is perfectly placed for lift-off in 2023. Expansion into Ireland and the United States comes next, and with scalability baked into its operational model, its investment looks set to be rewarded with both increased volume and profitability.

Simon concluded: “We will triple in size within our current cost base, during 2023. The speed of innovation within Salesforce keeps us many steps ahead of our competitors. Equally, 93% of users log into PayCaptain at least once a month and 80% say they feel more in control of their finances. These are figures that we’re really proud of.”