EWA Easy Access, GajiGesa Integrated with the Gaji.id HRIS Platform

fintech platforms earned wage access (EWA) GajiGesa announced a collaboration with the employee management platform (HRIS) Gaji.id. This partnership allows the presence of flexible salary access solutions from GajiGesa on the Gaji.id platform for all users.

To DailySocial.id, Co-founder and CEO GajiGesa Vidit Agrawal ensured that the cooperation between the two companies was still limited to business, there had been no acquisition action taken. GajiGesa plans to multiply similar collaborations so that the company's ambitions to reach more than 500 thousand medium to large companies faster.

“We are open to similar partnerships because we want to activate the ecosystem with EWA products and reach as many companies in the region as possible,” he said.

Explained further, this partnership provides thousands of corporate partners with more responsible access to finance Existing and new Gaji.id through the Gaji.id application. At the same time, HR can also directly manage employee data on the same platform, thus increasing operational efficiency.

Platform GajiGesa enables partner companies to manage employee data and cash flow effectively and easily, both for financial benefits, health and holistic education to employees. Employees can also withdraw their earned salaries on demand and faster than the traditional pay cycle at the end of the month. Such a solution is considered capable of removing dependence on predatory lenders.

Party GajiGesa has integrated a leading on-demand payroll solution to make the entire activation, execution and reconciliation process seamless through Gaji.id for enterprises.

Separately, in an official statement, Agrawal said, “We are very happy to be collaborating with a company like Gaji.id [..]. Now every company that uses Gaji.id as their HRIS can also provide benefits GajiGesa to all their employees in one hand. This exciting partnership creates one of the best employee benefits solutions on the market.”

Gaji.id CEO Harry Moeljo added, “[..[ We aspire to continue to provide the best innovation while meeting the needs of our partners in shortening processing time for employee data administration. We believe this integration will effectively address the needs of employees in accessing fast funds at no additional cost.”

Since its establishment in mid 2020, solutions GajiGesa It has become an invaluable empowerment tool for employers and their employees in various sectors including manufacturing, plantations, manufacturing, retail, restaurants, hospitals and technology companies. Partner companies have grown by around 500% in the last six months and counting, including medium to large companies that are starting to choose a holistic approach to employee health.

Currently, more than 250 companies have partnered with GajiGesa, serving hundreds of thousands of employees in Indonesia. Partnership between GajiGesa and Gaji.id this is the first of many similar collaborations for GajiGesa which has aggressive plans to serve more than 1.000 start-ups this year. This demand for holistic health continues to increase, from medium to large companies, as part of the new employee benefits program.

"Under the partnership with Gaji.id, we have secured additional partnerships with five new companies and have more than 30 companies in the contract stage," concluded Agrawal.

Previously, in December 2021, GajiGesa announce the gain pre-Series A . funding of $6,6 million (approximately 94,5 billion Rupiah). This round was led by MassMutual Ventures, with participation from January Capital, Wagestream, Bunda Group, Smile Group. Then, a number of individual investors, such as Oliver Jung, Patrick Walujo, Nipun Mehram, and Noah Pepper. Then, there were old investors who participated, including defy.vc, Quest Ventures, GK Plug and Play, and Next Billion Ventures.

EWA Solutions in Indonesia

Some interpret the abbreviation of EWA as early wage access. There are also those who use other terms such as, on-demand pay, instant pay, daily pay benefits, or earned income access. But all the names refer to solutions that do the same basic thing: help employees access the wages they've earned before payday arrives.

A global survey conducted by PwC in 2019 found that 67% of workers reported struggling with financial stress, meaning more than two-thirds of the working population are prone to migraines, depression and anxiety. Many studies highlight the effects of employee financial stress on business performance.

While many employers provide employee loans (such as cash), they are actually only locking in valuable cash flow and are not yet able to provide employees with flexibility and instant solutions. For example, lower-class workers who have to struggle with unstable incomes or expenses for a variety of reasons, including unexpected or increased bills and fluctuating working hours.

For employers, EWA program allowing employees to access a portion of their paycheck early can help them time their earnings with expected or unexpected expenses to avoid late fees or penalties.

The acceptance of the EWA concept in developed countries has inspired fintech companies from developing countries to attend. Because, generally in developing countries, where low-wage workers often turn to fast loans with high interest rates to keep their sudden expenses in check before payday arrives.

apart GajiGesa, there are already a number of companies that are interested in working on a similar concept in Indonesia. Some of the names, there are Wagely, Gigacover, GajiKoin carried by KoinWorks, Vinmo, Mekari Flex, Halogaji from Halofina, GetPaid, and Gajiku.