Does Wingspan view domestically-focused companies like Gusto and Justworks as its competitors?

We see them as partners rather than competitors. 

First of all, there's a segmentation issue: companies that are using Gusto or Justworks usually have two to twenty employees. We're working with mid-market companies that are much larger and their workforces are much larger. 

What we see is that those companies need a layer of orchestration and automation before the actual payment stream comes out. We're actually API-first, and being an API-first platform, we're able to connect directly into project management systems and report out to ERP systems.

That adds a really significant competitive advantage for us. What typically happens today is a company with 500 contractors will export a spreadsheet, then they upload it into Bill.com, and then Bill.com will send the payment out eventually. 

The problem is that it doesn't really remove any of the work because it's still very manual. That's why folks want to pay once or twice a month because it's so painful. But because we can integrate directly with their systems via API, we can pay as frequently as every day.