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iiPay to Open EMEA Hub in budapest

D&T
February 6, 2020

Integrated International Payroll (iiPay), the cloud-based market leader of global payroll and technological services, has chosen Budapest for the location of its center serving the EMEA region (Europe, Middle East and Africa). Initially, the office of 60 associates will provide operative tasks in English, German, Polish, Spanish and Italian languages, but short-term plans feature expansion of the service portfolio.

iiPay is a service-driven 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 centralization of processes 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 that provides comprehensive, global payroll services for 70 clients in 170 countries worldwide closed the previous year with over 60% growth both in regard to the number of clients and earnings.

As part of the company's expansion strategy, Budapest was selected as the location of its hub serving the EMEA region. iiPay targets 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 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.

A report by the Hungarian Investment Promotion Agency (HIPA) points out that the business services center (BSC) industry is one of the most dynamically growing sectors in Hungary today. Currently, some 120 such centers operate in Hungary, employing over 55,000 people. Employees typically belong to generation Y (born between 1980 and 1999), speak foreign languages and have university degrees. 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 centers primarily provide financial, IT, HR and customer service support regionally and globally as well as contribute, to a great extent, to retaining the highest possible number of talented and well-educated young people in Hungary. 

D&T

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