Deluxe Corporation Strengths, Domain Expertise, and Key Differentiators
Deluxe Treasury Management Solutions offers cloud-based treasury solutions, enhancing cash visibility, forecasting accuracy, scalability, and financial control to benefit banks and businesses. VerticalResponse, a subsidiary of Deluxe, specializes in providing email and social media marketing solutions tailored for small businesses and nonprofit organizations.
Deluxe Corporation Recent Developments
In July 2023, Deluxe announced two new appointments to its Executive Leadership Team, aligning with the company’s diverse portfolio and offerings. Debra Bradford assumes the role of President of Merchant Services, while Kristopher Lazzaretti takes on the position of President of Data Solutions.
In June 2021, Deluxe, a leading Payments and Business Technology company, introduced HR Solutions on the Deluxe People Platform. This fully digital HR platform enables small- and medium-sized businesses (SMBs) to consolidate payroll services with employee hiring, onboarding, time tracking, and HR services in one integrated platform. Developed as part of Deluxe's Payments focus, HR Solutions leverages advanced HR integration software in collaboration with GoCo.io Inc., ensuring a seamless HR experience. This technology enables Deluxe to provide a modern HR system seamlessly integrated into its platform alongside existing payroll capabilities. SMB customers can access HR solutions securely via a web portal on any device, including PCs, laptops, tablets, and smartphones, offering convenient anytime, anywhere access to their information. The product offers improved functionality from previous payroll solutions, now delivered through a simplified, app-based user experience.
In October 2019, Deluxe expanded its integrated receivables functionality with Deluxe Bill Pay and AR.Bots, advancing its automation capabilities. These additions to Deluxe’s suite of services mark a progression towards providing end-to-end automation for the order-to-cash cycle. Deluxe Bill Pay offers mid-to-large-sized corporations and financial institutions a secure, cloud-based solution to streamline billing and payment processing. Additionally, the Payment Reassociation feature of AR.Bots enhances the Deluxe Treasury Management Solutions suite by facilitating buyer portal automation.
In July 2019, Chris Thomas assumed the newly established position of Chief Revenue Officer at Deluxe Corporation. Tasked with driving organic revenue growth throughout the organization, Thomas will spearhead efforts to accelerate cross-selling initiatives across Deluxe's diverse range of products and services to both existing and new clientele.
In recent years, Deluxe Corporation has embarked on a strategic transition toward becoming a technology-focused company. This initiative involves significant investments in proprietary cloud infrastructure and strategic acquisitions of software-based companies to expand its portfolio.
Deluxe Corporation Mergers and Acquisitions (M&A) Activities
In January 2023, Deluxe disclosed the sale of its remaining web hosting and logo design divisions to HostPapa. Renowned for its services to small business and email hosting clients globally, Deluxe's web hosting business bolsters HostPapa's expanding portfolio in hosting and design. These acquisitions enhance HostPapa's presence and offerings across various markets.
In June 2021, Deluxe finalized the acquisition of First American Payment Systems for $960 million in cash. This transaction effectively doubles the revenue of Deluxe's fastest-growing segment, Deluxe Payments, to $600 million annually, with appealing margins. Deluxe Payments, currently contributing 17% of the company’s revenue, will now comprise 29% with the addition of First American.
In December 2019, Deluxe acquired Fiserv's lockbox processing business. Lockbox banking facilitates payment receipt from customers, directing payments to a designated post office box for processing by the bank and deposit into the company's account. Deluxe will manage Fiserv's lockbox operations across five locations, including the primary facility in Chicago, while Fiserv will act as a reseller of Deluxe's lockbox processing services.
In December 2018, Deluxe Corp. acquired MyCorp. Business Services Inc., a company specializing in assisting new businesses with incorporation, compliance, and related services. This acquisition presents cross-selling opportunities for Deluxe to offer additional services to MyCorp's customer base..
In September 2018, Deluxe acquired ColoCrossing to broaden its presence in the data center and infrastructure sector, offering new avenues for growth and expansion. This acquisition enriches Deluxe's technology portfolio and augments its talent pool in the growing IT infrastructure field.
In May 2018, Deluxe Corporation acquired LogoMix, a Boston-based provider of logo design and small business branding services. This acquisition enhances Deluxe’s portfolio of small business marketing services, which includes website development, email marketing, social media, search engine optimization, and logo design, alongside its industry checks and forms offerings. It also extends Deluxe’s global reach, with over 60% of LogoMix’s customers located outside the U.S.
In 2017, Deluxe Corporation acquired RDM Corporation for $99.82 million.
In June 2013, Deluxe Corp acquired VerticalResponse for $27 million.
Deluxe Corporation Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Deluxe Corporation applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Deluxe Corporation and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified VerticalResponse, Deluxe Treasury Management, Deluxe People Platform, Deluxe Banker’s Dashboard, Deluxe Credit Union Dashboard, Deluxe Recievables Management customers.
Deluxe Corporation Overview
801 South Marquette Avenue
Minneapolis, MN, 55402-2807, United States
1 651-483-7111
https://www.deluxe.com/
Ownership: - NYSE: DLX
Number of Employees: 5863
Functional Markets: CRM, eCommerce, ERP Financial, ERP Services and Operations, HCM, TRM,
Key Verticals: Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Distribution, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Deluxe Corporation Key Enterprise and Cloud Applications
VerticalResponse, Deluxe Treasury Management, Deluxe People Platform, Deluxe Banker’s Dashboard, Deluxe Credit Union Dashboard, Deluxe Recievables Management
Deluxe Corporation Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Deluxe Corporation Revenue Breakdown By Type, $M:
Deluxe Corporation Enterprise Applications Revenues By Functional Markets, $M:
Deluxe Corporation Enterprise Applications Revenues By Verticals, $M:
Deluxe Corporation Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Deluxe Corporation Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Deluxe Corporation Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Deluxe Corporation Customers
No. of Deluxe Corporation Customers: 4.5 million
No. of Deluxe Corporation Enterprise Applications Customers: 4.5 million
No. of Deluxe Corporation Cloud Customers: x
No. of Deluxe Corporation Cloud Subscribers: x
Deluxe serves over 4,000 financial institutions and around 4.5 million small business customers. Among its clientele are Zion Climbing and Event Center, Schlemmer Brothers, nooma Yoga Studio, Bangor Savings Bank, Omaha Community Foundation, and numerous others.
Deluxe Corporation Market Opportunities, M&A and Geo Expansions
Deluxe and IBM Consulting proudly announce a strategic collaboration aimed at transforming receivables and cash application processing for corporations. This joint go-to-market agreement delivers a comprehensive solution to optimize cash flow, empowering clients with receivables automation and cash application processing. By leveraging IBM Consulting's expertise in finance business process outsourcing, this collaboration offers clients an end-to-end solution addressing both technology and operations. This initiative reflects the evolving landscape of receivables processing, meeting the growing demand for streamlined and cost-effective solutions. Aligned with Deluxe's enterprise-level digital transformation, this collaboration aims to streamline operations and drive value for customers by providing a single, integrated view that eliminates the need for multiple systems.
In April 2020, Deluxe introduced the Medical Payment Exchange (MPX) platform in partnership with healthcare payment provider ECHO Health. This collaborative solution enables healthcare payers to shift from paper checks to digital payments, leading to significant savings in time and efficiency without requiring substantial infrastructure changes. With MPX, payers upload check batch files, and the platform converts remittances into electronic payments and Explanations of Payment (EOP), distributing them through its broad electronic network to over 160,000 service providers across 50,000 locations.
In the past three years, Deluxe Corporation effectively migrated a substantial portion of its applications to a private cloud environment. Furthermore, in June 2018, Deluxe acquired specific assets of Velocity Servers, Inc., known as ColoCrossing, a provider of data center solutions, cloud hosting, and infrastructure colocation services.
Deluxe Corporation Risks and Challenges
Competition in the payments industry is fierce, with a multitude of financial technology (Fintech) companies, independent payment processors, credit card processing firms, treasury management service providers, and in-house capabilities of financial institutions vying for market share. While striving to compete effectively, there's no guarantee of success against current or future competitors. Rivals may innovate with superior products or technologies and adapt more swiftly to evolving customer needs. Intense competition may lead to price cuts, diminished profit margins, or customer attrition, negatively impacting financial performance.
Deluxe Corporation Ecosystem, Partners, Resellers and SI
Key partners include: Dasheroo: Enables users to seamlessly view email marketing analytics alongside other applications in a comprehensive business dashboard. Digioh: Empowers customers with a lightbox widget for displaying targeted offers to website visitors, capturing their contact information, and automatically integrating with VerticalResponse. Lander: Facilitates the automated transfer of leads from Lander landing pages to VerticalResponse email marketing lists in three straightforward steps. Tatango: Accelerates email marketing list growth by allowing new subscribers to text their email addresses to a designated list. Wishpond: Streamlines the export of leads from Wishpond campaigns into VerticalResponse email marketing lists with a single click. Zapier: As a member of the Zapier marketplace, VerticalResponse offers integration with numerous web applications, including HighRise, Nimble, Zoho CRM, Wufoo, Shopify, and Dropbox, facilitating the synchronization of contact list data and task automation.
In June 2021, Deluxe, a leading Payments and Business Technology company, announced a partnership with Microsoft to integrate Deluxe small business HR and payroll solutions into Microsoft Dynamics 365 Business Central. This collaboration combines the strengths of Microsoft and Deluxe to enhance financial and accounting solutions for small businesses. Dynamics 365 Business Central is a comprehensive cloud-based business management solution that integrates finance, sales, service, and operations. With the integration of the Deluxe People Platform tool, small business owners gain streamlined payroll and HR functions alongside financial accounting tasks like quotes, orders, invoicing, purchasing, cash management, and reporting, all within a single user-friendly platform.
In February 2020, Deluxe expanded its alliance with Salesforce to offer Salesforce Essentials to Deluxe small business customers. Salesforce Essentials provides sales and customer service tools in a single app, empowering small businesses to efficiently manage customer relationships, ensure customer satisfaction, and scale technology as their businesses expand.
Deluxe Corporation consistently enhances its portfolio by expanding partnerships and acquiring companies to broaden its marketing solutions and service offerings. The company anticipates that sales from these high-growth products and services will progressively contribute more to its revenue.
Deluxe Corporation Cloud Infrastructure Insights
Subscribe to read more about:
- Deluxe Corporation Public Cloud and Infrastructure (IaaS)
- Deluxe Corporation Platform (PaaS)
- Deluxe Corporation Application Delivery
- Deluxe Corporation Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
https://www.appsruntheworld.com/About Ushttps://www.appsruntheworld.com/taxonomy
https://www.appsruntheworld.com/FAQ
