CloudPay is partnering with Indian enterprise software maker Ramco Systems to bring cloud-based payroll systems to more multinational organisations.
The partnership will see CloudPay’s SaaS platform, designed for integrated global payroll management, combined with Ramco’s platform to serve new and existing customers across 120 countries.
The companies claim that the multi-country payroll outsourcing market is worth $1.37bn.
“Our partnership with Ramco will allow us to further enhance our platform, provide cost-effective solutions, and address an even wider range of payroll complexities through greater standardization and innovative features around analytics, ” said Paul Bartlett, CloudPay CEO.
The deal between the North Carolina and Chennai-based firms will also increase both their global footprints with Ramco CEO Virender Aggarwal saying: “While Ramco’s own platform covers Payroll for 35+ countries across South-East Asia, the Middle East and Australia and New Zealand, CloudPay brings with it extensive reach and expertise in Europe and US.”
CloudPay has raised more than $52m to date, most recently a $16m Series B round in December 2012 led by Pinnacle Ventures.
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