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DailyPay Expands Platform: Announces Integration Offering For Human Capital Management And Payroll Industries

NEW YORK, March 1, 2021  —  DailyPay , the recognized gold standard in the on-demand pay industry, today announced the launch of a game-changing new product, ExtendPX , for human capital management (HCM) and payroll service providers.

ExtendPX  moves DailyPay beyond their traditional On-Demand Pay (ODP) business offering. The announcement of ExtendPX will enable every Payroll, HCM and TMS (Time Management Software) company in the U.S. to offer highly demanded on-demand pay services through a customizable, modular on-demand pay solution that can be embedded into the product suite that they offer to their customers. ExtendPX, the first of its kind for the PayExperience industry, is already active with notable leading global payroll and HCM partners and other organizations.

“As the gold standard in the on-demand pay industry, our mission is to unlock the endless possibilities of pay,” said Konstantin Getmanchuk, Senior Vice President, Product Management, DailyPay. “With 80% of Fortune 100 companies who offer on-demand pay choosing DailyPay, we have seen the demand for ODP services grow at unprecedented rates. The future is here. We are here to facilitate that change. Within a few years, every company will enable their employees to access the money they have earned, as they need it. It is time to offer an innovative solution to HCM companies.”

The most robust program of its kind, ExtendPX offers a comprehensive set of services, with the ability to customize based on needs. HCM companies can embed the DailyPay offering into their own product suite using DailyPay APIs, or choose a white-label approach. Both options result in an on-brand experience where the product looks and feels like their own — without the hassle of building a native solution. In addition to supporting immediate access to earned income, the full list of services includes employee savings and financial wellness features, off-cycle payment tools and other supporting DailyPay services, such as guaranteed program funding, secure data exchange monitoring and multi-level live domestic employee support.

“We were thrilled to have DailyPay integrated into our benefits package,” said Bob Frank, SVP and CIO, Adams Keegan . “The ability to seamlessly offer one of the most sought-after benefits that gives employees the power of choice and control over their earned pay will give us a competitive advantage over our competitors and is a game-changer for our clients.”

The demand for on-demand pay (an employer-based benefit and payroll process also called earned wage access) has grown exponentially due to its proven ability to reduce turnover, promote worker productivity and boost hiring. Given the triple-digit growth in client demand for on-demand pay, HCM, payroll and TMS companies are quickly realizing the need to embrace this new market.

“Over the past five years, DailyPay has partnered with key HCM and TMS companies in powerful ways,” said Jason Lee, CEO and co-founder of DailyPay. “We have proven that by integrating our gold-standard offering into their platforms, more Americans can enjoy control and flexibility over their pay. After all, it’s their money, and they’ve earned it. This product expansion is just one of the critical steps we are making to move the entire PayExperience industry forward.”

DailyPay is already a bestselling solution offered on leading HCM marketplaces, and is integrated with six of the 10 largest HCM companies. Click here to see DailyPay’s full network of integration partners.

The launch of ExtendPX comes on the heels of the recent launch of DailyPay CYCLE , DailyPay’s new product for payroll professionals that solves many challenges by digitizing off-cycle payments and making them available real-time.

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    AI STARTUP RUBIKLOUD TO BE ACQUIRED BY OTTAWA-BASED KINAXIS FOR $81.4 MILLION CAD

    OTTAWA, ON, June 15, 2020 – Kinaxis® Inc. (TSX: KXS), the authority in driving agility for fast, confident decision-making in an unpredictable world, has signed a definitive agreement to acquire Toronto-based Rubikloud, a disruptive, emerging provider of AI solutions that automate supply chain prescriptive analytics and decision-making in the retail and consumer packaged goods (CPG) industries.

    Globally-recognized retailers and CPG manufacturers in the health and beauty, household and grocery segments use Rubikloud’s AI-based products today. Their offerings include demand forecasting and automation to manage and optimize trade promotions, pricing and assortment to drive product demand and dramatically improve financial results. Kinaxis will enhance RapidResponse’s demand planning capabilities with the Rubikloud offerings, anticipating initial opportunities in the company’s rapidly-growing CPG customer base and over time for other industries such as life sciences. The acquisition also offers Kinaxis a springboard into the enterprise retail industry.

    “Rubikloud has capabilities and value that we can offer our CPG customers today, leads us into the retail industry with some bellwether accounts, and adds a group of approximately 80 people to an already-impressive AI and machine learning (ML) team here at Kinaxis. Over time, this enhanced group will contribute to new and existing AI-powered capabilities across the full Kinaxis RapidResponse® platform and applications,” said John Sicard, President and CEO of Kinaxis. “This acquisition reflects the growing importance of AI and ML to power intelligent automation and augment human decision-making to better deliver on customer promises, remove waste and increase resiliency for effective risk management.”

    Rubikloud’s SaaS-based ML offerings empower retail and CPG manufacturers to transform their core operations by improving and automating complex, profit-generating decisions. Rubikloud’s proven AI capabilities and intuitive tools enable users to leverage disparate data sources to improve forecast accuracy, site-level allocations, inventory availability and promotion plans by allowing users to run boundless simulations in real time.

    “We founded Rubikloud with the belief that purpose-built AI could be used to solve some of the most complex industry problems and we have spent the last seven years building a fantastic product that receives validation from global customers every day,” said Kerry Liu, CEO, Rubikloud. “We’re excited at the prospect of joining Kinaxis, which helps us bring our innovations to a much broader customer base at a faster pace than on our own. Not only that, being two strong Canadian companies we see great cultural synergy and look forward to working on the complex problems we know RapidResponse and concurrent planning can solve for customers.”

    Terms of Agreement
    Kinaxis will acquire Rubikloud for US$60 million in an all-cash transaction that is expected to close within 60 days. Based on Rubikloud’s current revenue and expense profile, the company’s fiscal 2020 revenue and Adjusted EBITDA guidance, as reiterated in its May 6, 2020 news release, remains unchanged. The transaction is subject to customary closing conditions.

    About Kinaxis Inc. 
    Everyday volatility and uncertainty demand quick action. Kinaxis® delivers the agility to make fast, confident decisions across integrated business planning and the digital supply chain. People can plan better, live better and change the world. Trusted by innovative brands, we combine human intelligence with AI and concurrent planning to help companies plan for any future, monitor risks and opportunities and respond at the pace of change. Powered by an extensible, cloud-based platform, Kinaxis delivers industry-proven applications so everyone can know sooner, act faster and remove waste. For more Kinaxis news, follow us on LinkedIn or Twitter.