Published 6 MAY 2022

Introduction

There is always some or the other kind of uncertainty around the financial stabilities of businesses even when they are well-established, especially if they are novel and just setting up. If you ask the employees across organizations of different strata and scales, they will surely vouch for this fact. However, the pandemic outbreak has pushed the liquidity crisis among employees and workers further. The outcome is nothing but the financial strain of fulfilling basic amenities and the inability to pay the debts well in time. It nearly becomes impossible for employees to wait for a specific date to get their pay check. Thankfully with the help of alternative solutions, we can tackle this issue.

What is KiloPe?

The alternate finance solution that we talked about to break ways from pay check to pay check living is called an Earned Wage Access System. 72% of businesses have resorted to EWA to make a portion of their salary available to their employees at the time of need before their actual payday. You need a provider to install and integrate EWA into your existing payroll system. The role of an EWA provider is to work with the employer on a contract basis to provide services to the employees. KiloPe does the same. It is a one-stop solution for the financial wellness of your employees. It is capable of guiding companies on global and local levels with a vision and care towards a comprehensive financial experience that your employees deserve to take your business to newer heights. KiloPe also brings so much value to the table by providing various benefits to both the employers as well as the employees.

Why KiloPe matter to your business?

Let us look at some statistics about Earned Wage Access systems like KiloPe that establish a positive notion about its usage : 1. 77% of Indian employees feel optimistic about EWA 2. 60% of Indian employees said that EWA would be one of the deciding factors for their jobs. 3. 43% of EWA users covered Payroll with their salary compared to 21% of non-EWA users. Following are some factors that reassure these statistics about why KiloPe matters to your business:

The right choice

KiloPe is the right choice for your business as an Earned Wage Access service provider. It can be considered free for your company because it charges no extra costs or interest from the employers and the employees. It focuses on the overall growth and financial understanding of its users without any intention of monetizing or perpetuating your business in the name of benefits.

• Easy integration: There are many different types of payroll systems, human resource management systems, and enterprise management systems that businesses and organizations use to record, access, and manage data, salary, and taxes of their employees. Kilope is compatible with any and every sort of these software systems and can easily be integrated. It is a fully automated solution for handling working capital and employee payments.
• Convenient to access: Apart from being easily customizable, what makes KiloPe your go-to fintech solution is that it is incredibly convenient to access the earned salary of your employees. It also gives you an instant allowance of liquidity on the demand of your employees irrespective of their pay date. This makes it a hassle- and stress-free platform where employees can manage their financial requirements.
• Tracking and monitoring: KiloPe is an Earned Wage Access provider that takes care of the operating, tracking, and monitoring of the financial offerings of your workforce on the same platform. It also provides analysis of employee usage on a real-time basis which helps avoid confusion with the data and rectifies errors, if any. KiloPe is a trusted, transparent, and risk-free solution for all your financial concerns.
• Security of capital and data: The thing that concerns us the most about finances is "security." KiloPe is a risk-free alternative for the employer as it takes care of the management of salary withdrawals transparently and securely. There are very few chances of mishaps or cheats. You need not worry about your working capital because it remains unchanged, with KiloPe giving you a sense of relief.
• Complete financial well-being: KiloPe is a flexible financial solution that frees employees from relying on short-term loans and prevents them from falling in the never-ending cycle of debt. Choosing it as your Earned Wage Access provider will help you manage your employees better and take care of their overall financial well-being. It keeps in mind the best interests of the employers and the employees
• Encouragement and motivation: Any stress that occurs in one's life reflects in each of the adjacent parts. If your workforce is stressed financially, they won't be able to perform to their optimum potential. Thus, KiloPe as a financial service aims to inculcate healthy financial habits among employees. This encourages and motivates them to continue their work in an organization and makes them feel valued and important.

Conclusion: 42% of the current Indian workforce expect their employers to look into matters of their financial concerns. KiloPe's Earned Wage System application helps them to do so. It enables the employees or your organization's workforce to track and access their salaries whenever and wherever they require it. It works on a low-touch technology that doesn't charge any additional costs from employers. It integrates with your pre-installed payroll systems seamlessly. Earned Wage Access systems are expanding the horizon of financial benefits by positively impacting the employees, and various research and studies are testimonies. KiloPe, being one of them, is redefining the modern pay check experience by providing unified financial well-being to your employees and contributing to your business's success and growth.