Equifax Strengths, Domain Expertise, and Key Differentiators
Equifax helps organizations take the next step in their Journey to Compliance by helping improve efficiency, reduce costs, and increase compliance with HR, payroll, tax, and Affordable Care Act management solutions.
Since 2013, it has been providing software and services to employers to assist in compliance with the ACA through partnerships with government agencies.
Equifax Recent Developments
In October 2023 Equifax added a virtual component to its acclaimed I-9 Anywhere solution. This enhancement aims to empower eligible employers with the flexibility to streamline their onboarding processes and elevate the new hire experience. The introduction of the virtual option complements Equifax's existing I-9 Anywhere in-person process, offering employers greater flexibility and convenience in completing necessary employment documentation.
Equifax Workforce Solutions is slated to launch the new I-9 Anywhere virtual option before the end of the year, reaffirming its commitment to innovation and the expansion of its comprehensive onboarding solution suite. By leveraging technology to offer flexible and accessible onboarding solutions, Equifax aims to empower organizations with the tools they need to navigate the complexities of the modern workforce environment efficiently.
Equifax Mergers and Acquisitions (M&A) Activities
Equifax bolstered its workforce management solutions suite with the acquisition of Efficient Hire. The acquisition, finalized on January 31, 2022, marks Equifax's strategic move to enhance its capabilities in cloud recruiting, onboarding, and HR management solutions. Efficient Hire now joins Equifax's esteemed Workforce Solutions business unit, further expanding the company's robust portfolio of employer- and HR-focused offerings tailored to meet the evolving needs of organizations navigating today's dynamic employment landscape.
This strategic move underscores Equifax's commitment to driving growth and innovation in the workforce solutions space while maintaining financial stability and performance. As businesses continue to prioritize efficiency and agility in their HR operations, Equifax remains dedicated to delivering cutting-edge solutions that empower organizations to thrive in today's competitive landscape.
In October 2021, Equifax, has completed the acquisition of Appriss Insights, a provider of comprehensive risk and criminal justice intelligence products and solutions. The definitive agreement to acquire the Appriss Insights business was announced on August 10, 2021.
In September 2021, Equifax, has completed the acquisition of Teletrack, a U.S. leader in alternative credit data, from CoreLogic®. The definitive agreement to acquire Teletrack was announced on July 27, 2021. The combination of Teletrack with the Equifax DataX business will create a leading U.S. specialty consumer reporting agency, with data on more than 80 million thin-file, unbanked, underbanked and credit rebuilding consumers that can help to expand access to credit through alternative data insights. The transaction is not anticipated to have a material impact on 2021 Equifax financial results.
Equifax Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Equifax 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 Equifax 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 Equifax Workforce Solutions customers.
Equifax Overview
1550 Peachtree St NW
Atlanta, GA, 30309, United States
1 404-885-8000
https://www.equifax.com/
Ownership: - NYSE: EFX
Number of Employees: 14900
Key Verticals: Automotive, Banking and Financial Services, Communications, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Media, Professional Services, Retail, Transportation, Utilities,
Equifax Key Enterprise and Cloud Applications
Equifax Workforce Solutions
Equifax 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.
Equifax Revenue Breakdown By Type, $M:
Equifax Enterprise Applications Revenues By Functional Markets, $M:
Equifax Enterprise Applications Revenues By Verticals, $M:
Equifax 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 |
Equifax Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Equifax Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Equifax Customers
No. of Equifax Customers: 3500
No. of Equifax Enterprise Applications Customers: 3500
No. of Equifax Cloud Customers: x
No. of Equifax Cloud Subscribers: 17.6 Milion
Among Equifax, customers are: US Department of Health and Human Services, HMS Host, EmployBridge, TrueBlue and others.
Equifax Market Opportunities, M&A and Geo Expansions
Equifax's completion of the new Equifax Cloud marks a significant milestone in its ability to introduce innovative products that capitalize on its diverse assets and distinctive capabilities, ultimately driving growth opportunities for its customers, leveraging the Equifax Cloud platform, a majority of the company's New Product Innovations, approximately 75%, harness global capabilities, enhancing scalability and operational efficiency.
Notably, Equifax has significantly expedited its time to market, with an average launch period of 77 days, representing a remarkable improvement compared to three years ago, when the time needed was three times longer. This accelerated pace underscores Equifax's commitment to agility and responsiveness in meeting evolving market demands and its position as a leader in delivering cutting-edge solutions to its clientele.
In August 2023 Equifax completed its acquisition of Boa Vista Servicos, the country's second-largest credit bureau. This strategic move not only expands Equifax's presence in Brazil but also presents a financially lucrative opportunity for the company.
With Equifax's acquisition of Boa Vista Serviços for R$8.00 per share, the estimated total enterprise value stands at R$3.1 billion, or approximately USD$640 million, highlighting the significant investment made by Equifax to strengthen its position in the region. Equifax's acquisition of Boa Vista Serviços underscores the company's strategic vision and commitment to growth through strategic investments and expansion into key markets.
Company executives expect Equifax Workforce Solutions to eventually eclipse its core credit reporting business, suggesting the use of a combination of organic growth as well as sizable acquisitions over the next few years.
TLC Engine helps banks to reduce operational risk and costs, monitor their regulatory compliance better, and increase staff engagement; it can be deployed on the cloud or on-premise and integrates seamlessly with Temenos banking software products. It can also be integrated into third-party systems, which a bank may be using.
Equifax Risks and Challenges
Potential changes to ACA could impact one of its top-performing products in recent years. However, the company is well positioned to leverage its massive data assets to push into different workforce analytics areas. The issue is whether Equifax plans to tackle other HCM applications segments through acquisitions.
Equifax Ecosystem, Partners, Resellers and SI
Direct sales with an extensive partner and distribution network.
Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region.
Equifax Cloud Infrastructure Insights
Subscribe to read more about:
- Equifax Public Cloud and Infrastructure (IaaS)
- Equifax Platform (PaaS)
- Equifax Application Delivery
- Equifax 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:
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