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The year 2023 was a year of growth for Advanto - whether in the form of new clients, partners or new market penetration. The company has already assisted over 70,000 employees with unexpected expenses, making it the largest provider of earned wage access in the CEE region, along with its presence in Poland.
In the simple Advanto app, users can track how much money they have worked for on a given day of the month and send the chosen amount to their bank account with a few clicks. Advanto thus replaces both the administratively demanding provision of pay advances and quick loans with unfavourable interest rates. The benefit allows employees to bridge sudden expenses or financial hardship without debt, with the receipt of their own money in their bank account in a matter of moments.
We have heard specific stories about the situations in which Advanto helps during the many client visits we have made over the past year. Due to significant inflation, over the past year, users have primarily withdrowen their money in advance for everyday expenses such as groceries, rent and utilities. The attractiveness of the benefit is also reflected in the use of the app itself. Every 2.5 minutes, a withdrawal of earned money is made through Advanto.
Growth in all directions
Advanto is experiencing an unprecedented rise, not only in the number of users, but also in the number of clients who have chosen to provide modern benefits to their employees. These include companies such as Adler Pelzer, Asus, M2C, Linet, Manpower and many others, confirming the previously noted fact that the benefit is suitable for companies regardless of industry. The biggest step forward in the past year was the entry into Poland, where Advanto now provides its benefit to thousands of Polish employees. This not only expands the company's geographic reach, but also provides modern financial solutions to a wide range of workers in Poland. Further expansion of the service across borders has been made possible primarily through significant investment. Existing investors Nation 1, V-Sharp Ventures and others were joined last year by investor duo Jean-Pascal Duvieusart and Ladislav Bartonicek, who acted as minority co-owners of investment group PPF.
Advanto saved me
As mentioned, we have visited several of our clients in the past year. For example, we went to Toyoda Gosei in Klášterec nad Ohří, to both of Gebauer Griller 's production plants and to the Karviná Mining Hospital. Thanks to these visits we get valuable feedback directly from the users. "When I found out how much the doctor wanted me to pay, I was horrified. I don't have a high income, and the insurance company only covers part of the examination. Eventually I accessed the money from the app (Advanto) and was able to go back to work after a few days. Advanto saved me, otherwise I would have been sick and without money to too. Or I would have had to borrow the money from somewhere," says the app user. Advanto was also part of NOTINO's safety day, which focused mainly on physical and financial health. We are very happy to go to our users. It is one way to meet them in person, get feedback on the Earned wage access service, hear their stories and maybe even make their day better with a little attention.
Expanding key partnerships
The amount available for withdrawal in Advanto is based on the hours worked. In order for everything to work reliably, Advanto is linked to the client's payroll and attendance system. This happens in real time, thanks to partnerships with the providers of these systems. In the past year, Advanto's partner base has expanded to include, for example, Nugget and GIRITON. At the same time, we are enjoying existing partnerships, for example, by participating in KS-program's KS WorkSession, regular meetings with the Asseco Soultions partner network, or meeting OKbase system users at OKbase day. We are working on continuous improvement of existing connections and the functioning of the whole process. This also makes the implementation of the benefit easy, fast and the whole administration related to the payroll is in one export per month. In addition, the "advances" are funded by Advanta, so the benefit does not interfere with the client's cash flow in any way.
With four successful years under its belt, Advanto has become a key player in the employee benefits field. Earned wage access aims to provide employees with a financial safety net in the event of a financial setback, giving them flexibility and control over their money. In HR, we strive to gain inspiration and educate ourselves on current topics. Advanto actively supports and promotes modern approaches to employee benefits. It is also for this reason that we are a proud Premium Partner of the Employers' Club, with which we have taken on regional and national HR project announcements where inspiration abounds. In addition, we have attended many conferences such as the Evolve Summit and HRComm in Slovakia. We could not miss the biggest HR event of the year HRko in Ostrava, where we presented our cooperation with our client ORLEN Unipetrol.
Keep in touch with employees
In addition to the clarity and simplicity of the app, employees praise its speed and reliability. However, with the great growth, we do not forget to continuously improve the app. In addition to slight tweaks to the app design, we focused on the News section that was added to the app during 2023. With News, employers can communicate with their employees easily, quickly, and with the ability to attach images, files, and customizable interactions to messages.
We take a responsible approach to leadership
The company's growth naturally translates into a high level of responsibility that we are aware of. We can confidently say that we are doing everything in our ability to continue to bring innovative and useful solutions to employee needs not only in the Czech Republic, but also in other countries where we have a growing influence. We are committed to helping people move them and ourselves forward.
Advanto Team
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