The pioneer of earned wage access, startup Advanto, has completed its integration with Elanor, the leader in payroll systems and services. This is Elanor’s only official partnership with an earned wage access provider, and its goal is to bring clients a “one-click” solution. Elanor’s systems are used by more than 700 organisations across the entire Central and Eastern European region.
“Recent years have highlighted the need for new benefits, especially those that touch on what matters most — wages and financial stability,” explains Radek Taptič, Sales Manager at Elanor.
“Earned wage access helps employers with the recruitment, motivation, and satisfaction of their employees, which is a key factor in keeping companies running stably. That is why we entered into a partnership with Advanto, so that we can offer employers who use our systems a convenient way to introduce earned wage access,” adds Petr Vodička, Sales and Delivery Coordinator at Elanor.
“Advanto can introduce earned wage access as a turnkey solution, but it is in everyone’s interest for the whole process to be as easy and, above all, as fast as possible. Elanor’s outsourcing clients — and in the future its software clients as well — can now launch Advanto practically immediately,” says Jan Kölbl, co-founder and CTO of Advanto. “The integration is secure, fast, and places no demands on IT or accounting,” adds Kölbl, noting that Advanto can connect just as easily to other widely used enterprise systems.
How does it work?
Advanto lets workers withdraw their own wages in the app of the same name at any time, based on the hours they have actually worked, from the first day of each month until payday. The money itself is sent and credited to their bank account practically instantly.
“The early wage withdrawal is financed by Advanto and does not interfere with established payroll dates. For companies using Elanor, the process does not disrupt cash flow or the payroll process in any way, nor does it bring any of the administrative costs associated with paying out wage advances. If employees wish to withdraw their earned money before payday, they handle everything in the Advanto app,” Kölbl adds.
Satisfied employees work harder
According to a survey conducted for Advanto by the EMA data agency, 67% of people consider being able to withdraw their wages several times a month completely normal and a better solution than a loan. And 57% would like to handle everything from their phone or computer.
Advanto began introducing earned wage access among Czech companies more than two years ago. Over that time, its data and employers’ experience have shown that earned wage access not only improves employees’ financial stability, but also reduces their turnover by 30% and increases their productivity by 22%.
