David Ossip on payments
From David Ossip: Scale Up Strategies from Canada’s Largest Ever Tech IPO · · Elevate
“We move around 300 billion dollars of payroll funds a year — looking at ways that we can monetize the movement of that money through things like wallet technologies.”
On , David Ossip, Chairman & Chief Executive Officer at Dayforce Inc, spoke about payments during David Ossip: Scale Up Strategies from Canada’s Largest Ever Tech IPO on Elevate.
About David Ossip
David Ossip, Chairman and CEO of Dayforce (formerly Ceridian), spoke at Elevate 2019 about scaling up organizations, using Ceridian as a case study. He discussed the company's growth from launching the Dayforce platform in 2013 to achieving revenue guidance of about $1.1 billion for the year. Ossip noted that Ceridian went public in April, listing on the New York Stock Exchange and Toronto Stock Exchange, raising about $800 million US initially, and described it as the second best performing IPO stock in the US the previous year. He stated that the company moves around $300 billion of payroll funds annually and is exploring monetization through wallet technologies. Ossip outlined three key learnings from his experience: solving a massive problem elegantly without requiring customization, communicating how value is created to customers, and focusing on quantifiable KPIs. He cited examples of value delivered, such as saving Rubio's about $2 million in recruiting and onboarding expenses and delivering an $8 million benefit for Guitar Center. Ossip also emphasized the importance of work-life balance, equality, and inclusion in the workplace, noting that Ceridian rolled out programs like flexible breaks, flexible PTO, and work-from-home initiatives, and that 52% of its employee base identifies as female. He cautioned that "you can't create a market for your product if it doesn't exist" and that "if you're optimistic and you haven't done the proper preparation, well then you are just foolish."