Just in 2012, three guys began the start-up company known as ZenPayroll. The spokesman for the three, and partner, Tomer London, describes the idea of the business as making payroll easier, less dreadful, and less expensive. Based in San Francisco, the partners received first funding to start up worth $6.1 Million. They decided to attack the payroll business because it seemed to them a place where a lot of innovative things could be done. They seem like they have certainly succeeded in their judgement. The are offering payroll service at $25 a month for small businesses which is much lower than the price of many larger payroll companies. In addition, London claims that payroll duties that business owners dread are not the case with their new business. He claims payroll is very easy and much more relaxing with their service. This is due to their thinking that customer service is what needs to be focused on in the payroll industry.
I think this is a very innovative idea. These guys found a business that is vastly dreaded and are making it easier for business owners. Also, being business owners they have the dynamic of knowing how small business owners and fellow entrepreneurs think and feel about different parts of business. Simply taking some ideas to make something easier was simple, but very smart. The business is still very young, but I think it says something that they were able to get such ample funding. Obviously, people have confidence in their plan.
Payroll is certainly a painful topic for a lot of small businesses; it is slow, tedious, and a lot of work if you have a lot of employees. These guys did a good job pinpointing that pain and as long as their services continue to make the payroll process easier for employers, they should continue to grow and succeed, and they cater to a pretty large market, so expansion is certainly a great possibility.
Just examining one part of a business and coming up with a solution to make things easier for small business owners..great job