Software-as-a-service fintech PaySauce has made senior management changes, with co-founder and chief technology officer Troy Tarrant and chief operating officer Mathew Stokes retiring from the company at the end of September.
Jacques Labuschagne, currently head of delivery, will become CTO. Jess McLean, currently chief people officer, will assume a new role of chief product officer and will lead the strategy to drive adoption of PaySauce’s payroll solution to create one unified platform for all its customers.
Tarrant and Stokes have made considerable personal sacrifices to create the product and evolve PaySauce from startup to scaleup, a release to the NZX said. They both consider that the time is right to step away from the business, and enable the new PaySauce leaders to progress to the next stage of PaySauce’s growth.
Tarrant will step aside from day-to-day operations but continue to strategically consult to the company as Labuschagne and McLean transition to their new roles.
CEO Asantha Wijeyeratne said the company was well positioned for the future and he thanked Tarrant and Stokes for their contribution.
“The completion of the new payroll engine, and our success in taking the company through to profitability have positioned PaySauce for long-term success. Troy, as co-founder of the company, and Mat have played a pivotal role in these achievements.
“I am also delighted to welcome Jacques and Jess into their new roles. Jacques has led the development of the Gen 2.0 payroll engine, which thanks to its new rules-based architecture, opens new opportunities to quickly grow in new market verticals and territories and has also created new options for the business such as our wholesale solution.
“Jess, meanwhile, is passionate about payroll. She has the experience to understand what our customers need in our product and knowledge of the legislative landscape necessary to navigate the way forward for our customers."
Tarrant said: “With the transition to the new Gen 2.0 payroll engine complete, now is the right time to focus on my other interests and hand over the technology leadership of the company. I am excited about the opportunity to focus on emerging technologies that will have an impact on payroll and the HR space for the longer term vision of PaySauce. I am proud of what we have achieved, and as a substantial shareholder, I will continue to follow its progress closely.”
Wijeyeratne, McLean and Labuschagne will make up the new PaySauce leadership team, along with chief financial officer Jaime Monaghan.
Together this team draws on deep experience in previous digital businesses including Catalyst, Trade Me, eServGlobal, Smart Payroll and Kiwibank.
PaySauce is a SaaS fintech platform providing solutions for people at work in 14 jurisdictions across the Asia-Pacific region. The technology enables small employers to digitally onboard, pay and manage employees from any device. The platform includes rosters, mobile timesheets, payroll calculations, banking integration, automated payments, PAYE filing, labour costing, automated general ledger entries and digital employment contracts.
