Hrtech startup based out of Malaysia and Singapore, Swingvy has announced that it is going to expand its operations into the Taiwanese market with the launch of its new product for payroll. The hrtech news ecosystem marks the introduction of a Core HR Administration- Payroll solution as well expansion of a startup.
This announcement comes after the raising of $7 million in Series A funding in 2019 by the startup which was led by Samsung Ventures and marked the maiden investment of the Korean electronic behemoth in Southeast Asia.
The CEO and co-founder of Swingvy, Jin Choeh stated that this new payroll product is entirely compliant with the Labor Laws of Taiwan because of its capability of calculating the payroll taxes, claims, deductions through integration with the existing software of the company, HR Hub.
This means that the employers will be given the ability to run payroll and issue payslips immediately and with higher accuracy to their workforce. This is because these calculations are made in accordance with the details of the employees found and present on the HR Hub. The company claims that this will help in minimizing the miscalculation errors caused by manual pay.
Swingvy is claimed to be serving more than 5,000 companies with its HR, payroll, and benefits solutions that automate all the administrative tasks and practices without much of a hassle.
The company took into consideration the fact that growing companies are more often than not struggling with manual processing of these core HR administrative functions and resorting to the use of much more complex software solutions. The company then built this new payroll product and now has commenced its operations in Taiwan as well.
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