Deluxe Corporation Strengths, Domain Expertise, and Key Differentiators
Deluxe Treasury Management Solutions is treasury solution which facilitates business in the cloud with improved cash visibility and forecasting to drive bottom-line value, scalability to do more with less, and better financial controls to mitigate risk for banks and businesses alike. VerticalResponse, a Deluxe company, provides email and social media marketing solutions for small businesses and nonprofit organizations.
Deluxe Corporation Recent Developments
In June 2021, Deluxe, a Trusted Payments and Business Technology company, announced the launch of HR Solutions on the Deluxe People Platform. This fully digital HR platform allows small- and medium-sized businesses (SMBs) to integrate payroll service with employee hiring, onboarding, time tracking, and HR services into one platform. HR Solutions on the Deluxe People Platform is one of the first innovation tools developed by Deluxe as part of its focus on Payments. Through a collaboration with GoCo.io Inc., Deluxe is leveraging the latest HR integration software to provide a seamless HR experience. By leveraging this technology, Deluxe is able to deliver a seamless, modern HR system for small businesses integrated into our platform alongside our already leading payroll capabilities. SMB customers access HR solutions through a secure web portal using the browser and device of their choice. It is compatible with PCs, laptops, tablets, and smartphones. This gives customers the convenience of any time, anywhere access to their information. Functionality from previous payroll solutions offered by Deluxe has been improved and the product is now delivered through a simple, app-based user experience.
In October 2019, Deluxe realised continued expansion and automation of its integrated receivables functionality with the addition of Deluxe Bill Pay and AR.Bots. The addition of the bill pay solution and AR.Bots technology into Deluxe’s IR suite of services is part of an ongoing evolution into Deluxe providing automation for the order to cash cycle. With Deluxe Bill Pay, mid-to-large-sized corporations and financial institutions can streamline billing and payment processing for their customers through a secure, flexible cloud-based service. Another addition to the Deluxe Treasury Management Solutions suite of services is the Payment Reassociation functionality of buyer portal Automated Retrieval Bots or AR.Bots.
In July 2019, Chris Thomas has joined Deluxe Corporation in a newly created role: Chief Revenue Officer. Thomas joins Deluxe in a newly created role with responsibility for organic revenue growth across the entire company as it accelerates cross-selling of its diversified portfolio of products and services to existing and new customers.
Over the past few years, Deluxe Corporation is on a strategic journey on becoming a tech company. They are heavily investing in their own cloud infrastructure and acquiring software based companies in order to grow their portfolio.
Deluxe Corporation Mergers and Acquisitions (M&A) Activities
In June 2021, Deluxe announced it has completed the previously announced acquisition of First American Payment Systems (“First American”) for $960 million in cash. Deluxe announced the proposed transaction on April 22, 2021. The acquisition doubles the revenue of the company’s fastest-growing segment, Deluxe Payments, to $600 million annually, with attractive margins. Deluxe Payments accounts for 17 percent of the company’s revenue currently. With First American, Payments will account for 29 percent.
In December 2019, Deluxe acquires Fiserv lockbox processing business. Lockbox banking is a service for the receipt of payment from customers. Under the service, the payments made by customers are directed to a special post office box. The bank retrieves the payments and deposits the funds into the company's bank account. Deluxe will assume control of the Fiserv lockbox businesses operating in five locations, including the main facility in Chicago, and Fiserv will become a reseller of Deluxe lockbox processing.
In December 2018, Deluxe Corp. acquired MyCorp. Business Services Inc. MyCorp. which helps new businesses with incorporation, compliance and other services, would provide cross-sell opportunities into other Deluxe services.
In September 2018, Deluxe acquired ColoCrossing in an effort to expand Deluxe’s footprint in the data centre and infrastructure industry. This acquisition brings new growth and expansion opportunities to his current infrastructure. Deluxe acquisition of ColoCrossing provides a great addition to his technology portfolio and brings tremendous talent to growing IT infrastructure
In May 2018, Deluxe Corporation acquired 100 per cent of privately held LogoMix, a Boston-based provider of logo design and other small business branding and marketing services. The LogoMix acquisition strengthens Deluxe’s suite of innovative small business marketing services. Those solutions include website development and hosting, email marketing, social media, search engine optimization and logo design, in addition to the company’s industry checks and forms offerings. The move also improves Deluxe’s reach, as more than 60 per cent of LogoMix’s customers are outside of the U.S.
In 2017, RDM Corporation was acquired by Deluxe Corporation for a total of $99.82 million.
In June 2013, Deluxe Corp purchased 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
Ownership: - NYSE: DLX
Number of Employees: 6352
Key Verticals: Automotive, Banking and Financial Services, Communications, Construction and Real Estate, Consumer Packaged Goods, Distribution, Government, Healthcare, Insurance, Leisure and Hospitality, Life Sciences, Manufacturing, Media, Non Profit, Oil, Gas and Chemicals, Professional Services, Retail, Transportation, Utilites,
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:
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* 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:
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Deluxe Corporation Enterprise Applications Revenues By Functional Markets, $M:
Deluxe Corporation Enterprise Applications Revenues By Verticals, $M:
Deluxe Corporation Revenues By Region, $M
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Deluxe Corporation Direct vs Indirect sales
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Deluxe Corporation Customers - Breakdown by Geo, Size, Vertical and Product
No. of Deluxe Corporation Customers: 4500000
No. of Deluxe Corporation Enterprise Applications Customers: 4500000
No. of Deluxe Corporation Cloud Customers: x
No. of Deluxe Corporation Cloud Subscribers: x
Deluxe provides products and services to over 4,000 financial institutions and approximately 4.5 million small business customers.
Some of Deluxe customers are Zion Climbing and Event Center, Schlemmer Brothers, nooma Yoga Studio, Bangor Savings Bank, Omaha Community Foundation and many others.
Deluxe Corporation Market Opportunities, M&A and Geo Expansions
In June 2021, Deluxe, a Trusted Payments and Business Technology company, named Scott Bomar Senior Vice President and Chief Financial Officer (CFO). Bomar joined Deluxe from the Home Depot, Inc., where he held senior executive finance and operating leadership roles of increasing responsibility for 15 years. Most recently, he served as Senior Vice President Home Services, a $5 Billion business unit with a team of approximately 5,000 team members. Previously, he served as Vice President, Payments and Treasurer, with responsibility for the company’s then $25 Billion debt portfolio, $5 Billion share repurchase program, and $2 Billion commercial paper program as well as the company’s credit card acceptance strategy and private label credit card program. In a previous assignment, he led the company’s corporate financial planning and analysis function and served as President of the China Retail division.
In April 2020, Deluxe launch Medical Payment Exchange (MPX) platform, a joint venture with healthcare payment provider ECHO Health. The new joint venture solution enables healthcare payers to migrate from paper checks to digital payments, generating significant savings through speed and efficiency gains without requiring large infrastructure investments or changing payment processes. Payers upload check batch files and MPX digitizes the remittance, sending an electronic payment and Explanation of Payment (EOP) simultaneously through its rapidly growing electronic network serving more than 160,000 service providers in 50,000 locations.
Over the past 3 years, Deluxe Corporation has managed to shift a substantial portion of applications to a private cloud-based environment. In June 2018, Deluxe Corporation acquired selected assets of Velocity Servers, Inc., doing business as ColoCrossing, a data center solutions, cloud hosting and infrastructure colocation provider of dedicated hosting services.
Deluxe Corporation Risks and Challenges
The company’s previous and now retired CEO, Lee Schram, recognized the need to diversify the company. He made 25 acquisitions from 2010 to 2018 alone. In the last 3 years, over 15 additional acquisition have been made. How well Deluxe management will integrate the acquisitions is a key element of their future growth
Deluxe Corporation Ecosystem, Partners, Resellers and SI
In June 2021, Deluxe, a Trusted Payments and Business Technology company, announced a collaboration with Microsoft to bring the Deluxe small business human resources (HR) and payroll solutions to Microsoft Dynamics 365 Business Central. The collaboration brings together two trusted companies, Microsoft and Deluxe, to further accelerate financial and accounting solutions for small businesses. A comprehensive cloud-based business management solution, Dynamics 365 Business Central connects teams across finance, sales, service, and operations within a single easy-to-use application. Small business leaders get the insights needed to ensure teams can adapt faster, work smarter, and perform better. Now, with the addition of the Deluxe People Platform tool, business owners have solutions to simplify and streamline payroll and HR while also integrating financial accounting tasks from quotes, orders, invoicing, purchasing, cash management, and reporting, all in one easy-to-use platform.
In February 2020, Deluxe Expands Alliance With Salesforce to Bring Salesforce Essentials to Deluxe Small Business Customers. Salesforce Essentials brings the power of the Salesforce platform to small business with sales and customer service tools in one app. With Salesforce Essentials, small businesses can easily manage customer relationships, keep customers happy, and scale technology as they grow their businesses.
Deluxe Corporation continuously evaluates ways to strengthen its portfolio of products and services. In recent years, it has grown its base of partnerships and it has acquired companies that allow them to expand its marketing solutions and other services offerings. Deluxe Corporation expects sales of these higher growth products and services will continue to represent an increasing portion of its revenue.
Current partners include: Dasheroo (Customers can view email marketing analytics alongside other applications they use, all in one easy-to-understand business dashboard); Digioh (Customers can employ a lightbox widget that shows targeted offers to website visitors and captures their contact information, which is then automatically pushed to VerticalResponse); Lander (Customers can automatically send leads from a Lander landing page to a VerticalResponse email marketing list in three easy steps); Tatango (Customers can quickly grow their email marketing lists by allowing new subscribers to text message their email addresses to a list); Wishpond (Customers can export leads collected from a Wishpond campaign into a VerticalResponse email marketing list with one click); Zapier (As a member of the Zapier marketplace, VerticalResponse can be integrated with hundreds of other Web applications, including HighRise, Nimble, Zoho CRM, Wufoo, Shopify and Dropbox, to sync contact list data and automate tasks).
Deluxe Corporation Cloud Infrastructure Insights
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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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