iiPay to open a new EMEA hub in Budapest

iiPay to open a new EMEA hub in Budapest

2020. 02. 04.

Levente Magyar, Deputy Minister of Foreign Affairs and Trade

Integrated International Payroll (iiPay), the cloud-based market leader of global payroll and technological services chose Budapest for the location of its centre serving the EMEA region. In the first step the office starting with 60 associates will take care of operative tasks in English, German, Polish, Spanish and Italian languages, but the short-term plans also feature the expansion of the service portfolio.

Representatives of iiPay and Levente Magyar, Deputy Minister of Foreign Affairs and Trade

Integrated International Payroll (iiPay) is a service-driven global payroll provider built on innovative and patented SaaS-based technology. The iiPay system enables quick data management and supports the integration of business intelligence in payroll. The services of the US-based company enable the centralisation of processes present in several countries and the simplification of payroll systems, at the same time ensuring compliance with the prevailing law in all countries, where it has clients and associates. Currently iiPay provides comprehensive, global payroll services for 70 clients in 170 different countries worldwide, and closed the previous year with over 60% growth both in regards to the number of clients and earnings.

As the next step of the company's expansion strategy Budapest was selected as the location of its hub serving the EMEA (Europe, Middle East and Africa) region. iiPay targeted the establishment of 60 new workplaces in the first half of 2020 in Budapest primarily in the field of client implementation and operative tasks. According to the plans the office will also facilitate support functions, like human resources, recruitment, sales and marketing, as well as information technology and product development in the near future.

The business services centre (BSC) industry is one of the most dynamically growing sectors in Hungary today. Currently some 120 centres are operating in Hungary providing jobs to over 55,000 people, typically to young persons belonging to generation Y (born between 1980 and 1999), who speak foreign languages and have university degrees, therefore it contributes to retaining the highest possible number of talented and well educated young people in Hungary to a great extent. Due to the high salary, quick promotion opportunities and the possibility to use foreign languages this sector attracts many young people with university degrees: 78% of employees have university or college degrees and the average age is 32 years. The hubs primarily provide financial, IT, HR and customer service support regionally and globally.