Asure Software, Inc. Strengths, Domain Expertise, and Key Differentiators
Azure Software provides innovative SaaS-based HCM solutions, delivered in the cloud that help clients grow their business. Asure helps businesses develop their Human Capital to get to the next level, stay compliant, and allocate time, money and technology toward growth. Asure Software’s offerings include a fully-integrated HCM platform, Time & Attendance, Talent Management, Employee Benefits, Benefits Administration, and Payroll & Tax.
Asure Software, Inc. Recent Developments
In January 2020, Asure Software launched its new corporate brand identity. These changes are intended to more clearly reflect the company’s recent announcement to become a pure-play SaaS Human Capital Management (HCM) company focused on helping small and midsize businesses develop their Human Capital to get to the next level, stay compliant, and allocate time, money and technology toward growth. At the same period, the company appointed executive leadership and board member changes to align with the company’s new focus.
In October 2018, Asure Software has been selected by New York Law School (NYLS) to deliver a centralized and streamlined room and resource scheduling solution that integrates with the school's existing Banner course scheduling platform. The higher education industry has historically struggled with a labor-intensive scheduling and room booking process that is not adequately able to take into consideration both student and faculty needs, space availability and course considerations. This integration will automatically feed NYLS's Banner course and instructor info into Asure's Resource Scheduler platform, doing away with the need for duplicate data entry and manual intervention.
Asure Software, Inc. Mergers and Acquisitions (M&A) Activities
In December 2019, Azure Software completed the sales of its Workspace Management business to FM:Systems. With the close of the acquisition, Asure becomes a pure play SaaS Human Capital Management (HCM) company focused on delivering its solutions to small and midsize businesses.
In January 2018, Asure Software acquired Sheakley PaySystems, a division of Sheakley Group Inc, an Ohio based provider of Workers Comp, Risk Management, HR, Payroll and employee benefits services with locations in Ohio, Tennessee, and Iowa. Since 1963, Sheakley's family-operated, HR and Workers Comp Risk Management outsourcing firm has met the growing needs of employers and their employees through a blend of practical and innovative HR and Workers Comp Risk Management solutions.
Asure Software, Inc. Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Asure Software, Inc. 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 Asure Software, Inc. 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 Asure Payroll & Tax, Asure Time and Attendance, Asure Human Resources, customers.
Asure Software, Inc. Overview
Ownership: - ASUR : Nasdaq CM
Number of Employees: 430
Functional Markets: HCM,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction and Real Estate, Consumer Packaged Goods, Distribution, Education, Government, Healthcare, Insurance, Leisure and Hospitality, Life Sciences, Manufacturing, Media, Non Profit, Oil, Gas and Chemicals, Professional Services, Retail, Transportation, Utilites,
Asure Software, Inc. Key Enterprise and Cloud Applications
Asure Payroll & Tax, Asure Time and Attendance, Asure Human Resources,
Asure Software, Inc. Revenues, $M:
|Type/Year||2019||2020||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.
Asure Software, Inc. Revenue Breakdown By Type, $M:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
Asure Software, Inc. Enterprise Applications Revenues By Functional Markets, $M:
Asure Software, Inc. Enterprise Applications Revenues By Verticals, $M:
Asure Software, Inc. Revenues By Region, $M
|Region||% of Total Revenues||2020 Total Revenues, $M||2020 Enterprise Applications Revenues, $M||2020 Cloud Applications Revenues, $M|
Asure Software, Inc. Direct vs Indirect sales
|Region||Direct Sales||Indirect Sales||Total|
Asure Software, Inc. Customers - Breakdown by Geo, Size, Vertical and Product
No. of Asure Software, Inc. Customers: 80000
No. of Asure Software, Inc. Enterprise Applications Customers: 80000
No. of Asure Software, Inc. Cloud Customers: 80000
No. of Asure Software, Inc. Cloud Subscribers: x
Asure's platform vision is to help clients proactively manage costs associated with their three most expensive assets, real estate, labor, and technology while creating an employee experience that fosters efficiency, productivity, and engagement. Asure serves approximately 80,000 small and mid-sized businesses including PSSI, Texas Orthopedic, Nixon Peabody, Lowenstein Sandler, Basic HR, Autumn Winds, AAA Colorado, ASTRA Payroll Services, Cumberland Payroll & HR Partners and others.
Asure Software, Inc. Market Opportunities, M&A and Geo Expansions
In June 2020, Asure Software has been added as a member of the broad-market Russell 3000. The Membership in the Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell US Indexes primarily by objective, market-capitalization rankings and style attributes. Russell US Indexes are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell US Indexes. Russell US Indexes are part of FTSE Russell, a leading global index provider.
Asure Software, Inc. Risks and Challenges
Asure’s total revenue decreased by $(7,643), or (10.4)%, in 2020 as compared to 2019. Recurring revenue comprised the majority of the decrease with a decrease of $(6,751), or (9.6)%. Recurring revenue decreased primarily due to the impact of COVID and lower interest rates. Hardware and professional services revenue trended downward, partially offset by an increase in on premise software license revenue.
Geographically, Asure sells its HCM products in the United States. International expansion could be a key for ongoing success.
Asure Software, Inc. Ecosystem, Partners, Resellers and SI
Asure Software's reseller Partners outside the United States include Novera and Spaarks in Australia which represents the workspace product line. It also has several Reseller Partners that represent its software in the Federal government.
Asure Software has number of Referral Partners, including PolyVision Corp., Steelcase and e-Innovative Solutions for the workspace management product line and several smaller firms for its time and attendance product line. Reseller Partners are companies that represent Asure Software globally, as well as before the Federal government, and often offer complementary products to either the workspace management product line or the workforce product line. Reseller Partners commit to a minimum level of business per year with Asure Software and receive a channel discount for that commitment.
Asure Software's Reseller Partners outside the United States include JLL, Red River Technology and Kathea, which represent the workspace product line. They also have several Reseller Partners that represent our software in the Federal government space. Resellers of the workforce product line in the United States include Oasis Outsourcing, a large provider of human resource outsourcing solutions.
The company has a number of Referral Partners, including Atmosphere Interiors PPI, BuildingI, Martek and SHI for the workspace management product and our workforce product line.
It has partnerships with Amazon Web Services, Cisco, Crestron, Doublehorn, Douma, Eci Electronic Commerce, Inc., GTM Payroll Services, Harley-Davidson Dealer Systems, Inc., IDT, Ltd., Johnson Controls, Microsoft, Modern Business Associates, Inc., Onelogin, Payday, Inc., The Payroll People, Polycom, Rackspace, Steelcase, and Trustmarque.
Asure Software, Inc. Cloud Infrastructure Insights
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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).
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