The digital shift has been more seismic than subtle for companies such as logistics firm Shipt, which has seen a massive business spike even in the context of the pandemic. And in next-gen payments, companies and workers are seeking quicker and more flexible payroll solutions, particularly in a time of uncertainty. Companies may have to adjust the two-week payment cycle to a process that meets the changing needs of the workforce. All this, Today in Data.
200K: Number of Shipt’s current shoppers – double what it had at the beginning of the pandemic.
278%: Shipt’s revenue bounce in Q1 2020 compared to 2019.
60%: Share of PPP funding that must be used for payroll-related costs to qualify for loan forgiveness.
24: Number of weeks businesses now have to spend PPP funds.
4.8M: Number of jobs U.S. employers added in June.