Caary Capital announced a joint effort with Ceridian, which claims to be global leader in human capital management (HCM) technology, “to extend its value to Ceridian’s Powerpay customers.”
Powerpay, a Cloud-based payroll and HR solution, is “designed to meet the needs of Canada’s small business segment.” Together with Caary Capital’s credit and spend management platform, the two companies will “better meet the needs of Canadian small and medium-sized businesses by offering enhanced services.”
John MacKinlay, CEO of Caary Capital, said:
“Ceridian is a global software leader and champion for Canadian businesses. Shared values are an integral component of any partnership, and we are pleased to join forces with Ceridian to continue to offer solutions for the small business community, a long-underserved segment.”
According to recent research from Caary Capital, the Canadian Lenders Association and Xero, Canadian small and medium-sized enterprises “struggle with access to corporate credit and financial products and services, often having to rely on a personal guarantee or a personal credit card.” This is “compounded by the administrative aspects of payroll that take small business owners’ focus away from business growth.”
Ettan Romm, Director of Product Management at Ceridian, remarked:
“At Ceridian, we’re driven to extend our Makes Work Life Better™ brand promise to our customers and their employees. Today’s announcement marks the start of a meaningful collaboration with Caary Capital and will deliver benefits for small and medium-sized business in Canada.”
By delivering corporate credit without the usual required personal guarantees and credit checks, Caary Capital is “enabling greater access to financial services.”
Caary Capital looks at a business’ cash flow and assets “to assess risk and make corporate credit an option for small and medium-sized businesses.”
The fintech platform “provides no-fee credit cards, 1.5 per cent cash back on all spend and administrator-managed virtual cards to streamline employee and supplier expenses.”
The new partnership with Ceridian will “provide access to Caary Capital’s product and services to Ceridian’s Powerpay customers, giving easier access to joint products, discounts for customers and continued collaboration.”