Wrapbook which powers payroll, insurance, and compliance for the entertainment industry announces $3.6M in Seed funding for its software platform that radically simplifies the grinding and labor-intensive process of onboarding, paying and ensuring film and production crews. Wrapbook seeks to be the premier payroll processing platform for the entertainment industry, which encompasses TV, film, commercial production, and live events, and is worth $181 billion, according to the Motion Picture Association. The overwhelming majority of entertainment payroll is processed manually.
HR Technology News: How to Adjust Employee Experiences for the New Normal
“Customers love that the Wrapbook team has combined its deep knowledge of the creative industry with an impressive technical stack to completely reimagine the tedious process of setting up distributed teams”
Wrapbook automates payroll filings and tax payments, calculating both federal and local taxes in all 50 states. As one of the few entertainment-compliant payroll companies in America, Wrapbook calculates employer fringes and complicated timecards correctly, while collecting union pension and health benefits. When it’s time to wrap, Wrapbook makes payroll and offloading workers digitized and seamless, so those handling productions can focus on what matters most: creating captivating stories.
HR Technology News: 11 Employee Engagement Ideas for Software Companies
Typical production crew paperwork processes require two to five on-set payroll coordination personnel to onboard cast and crew, and up to five days of post-production payroll calculations to wrap a project. This impacts production budgets, and drains hours of production time, because essential documents are completed in-person, and on-set. Wrapbook’s digital onboarding tool makes it fast and easy for producers to set up the cast and crew, often days or weeks before shooting, saving hours of startup and administrative paperwork. In times of COVID, anything that can eliminate in-person paperwork also helps to safeguard the health and well-being for cast and crew.
“Wrapbook is the easiest way for employers to compliantly pay employees for a week of work,” says Wrapbook Co-Founder and CEO Ali Javid. “We are here to help employers and employees be paperless to assist with COVID-19 and be AB5-compliant in entertainment and across project-based industries,” Javid says.
HR Technology News: TecHRseries Interview with Venkat Ramasamy, COO and VP Marketing for FileCloud