IT Brief UK - Technology news for CIOs & IT decision-makers
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HiBob acquires Pento to advance UK payroll services
Mon, 19th Feb 2024

HiBob, the firm behind the HR platform Bob in the UK, has announced its acquisition of Pento, the cloud-based UK payroll automation platform. This follows the release of HiBob's Payroll Hub in 2021 and marks the firm's next phase in advancing their payroll services. Embedded internally in the 'Bob' offering, this integration permits UK businesses to capably resolve payroll complexities, HiBob states.

With its modern, real-time payment automation, Pento simplifies payroll management and cuts down payment processing time from weeks to mere minutes for over 400 UK clients, many of whom already utilise the Bob platform. The integration of Pento's technology is designed to allow HiBob to extend their modern approach to human capital management into the payroll sector. As a result, they will be able to augmenting their full-suite capabilities for customers operating in the UK who wish to depart fom 'burdensome' traditional payroll solutions, the company states.

Coupling HR and Finance, HiBob's solution ensures precise data, compliance, and self-service competences that benefit all employees. The fluency of this integration and centralised data access boosts user experience, fostering a gratifying and productive work environment that leads to company success.

Ronni Zehavi, the CEO and Co-Founder at HiBob, stated, "Payroll and HRIS work hand-in-hand with strong synergies. The ultimate goal is an 'all-in-one' solution, where all aspects of people management are handled from a single platform. The deeper the integration, the better the overall experience." He added that antiquated payroll methods are tedious, susceptible to errors, and challenging to manage. Modern businesses, Zehavi stresses, require their HR and payroll teams to focus on people, not manual work.

Emphasising the benefit of the acquisition, Zehavi concluded, "With this acquisition, we are providing our thousands of customers in the UK with more flexibility and ease of use in how they manage their number one asset - their people. Pento's modern approach, along with their strong founders and proven track record, make them a strong complement to our business."

Expressing pride over Pento's past achievements, Jonas Bgh Larsen, co-founder and CEO at Pento, claims that they "have built the best-in-class payroll offering that modern businesses deserve," and is eager to see the potential unlocked when paired with the top HRIS on the market.

"By offering a true all-in-one solution, companies will be able to automate the entire payroll workflow from start to finish. We are thrilled to join HiBob to give our shared customers an integrated offering that is levels above other solutions in the market," Larsen added.

In facilitating the transaction, Deutsche Bank acted as a strategic advisor for HiBob, while Menalto Advisors fulfilled the same role for Pento.