HRsoft Strengths, Domain Expertise, and Key Differentiators
HRsoft is a compensation management SaaS Vendor. HRsoft started almost 20 years ago as a full suite of SaaS-based people management solutions.
COMPview is a compensation planning solution that dramatically reduces the time and stress associated with complex compensation cycles by fully automating a more streamlined, accurate and auditable process.
REWARDview is an online employee communication portal that gives employers a proactive year-round, strategic tool to engage and retain employees by providing a better understanding of the full value of their compensation package including salary, benefits, equity and more.
HRsoft Recent Developments
In July 2021 HRSoft launched PERFORMview, its new performance management software. The PERFORMview system offers a variety of supportive processes that help to simplify performance management within organizations, enabling managers to provide more effective and timely feedback and leading to a better-aligned workforce. PERFORMview brings transparency and ease of use to the performance management process. The software leverages HRSoft’s low-code technology platform to provide a modern user interface, pre-defined and easily modifiable analytics templates, and online tools such as tagging, following, and publishing. Users can easily publish and update key organizational priorities, and any employee in the organization can view and align with the performance goals of their leaders and teammates.
PERFORMview simulates the cross-functional collaboration that occurs throughout organizations in the way teams naturally work. Employees and managers can create work teams within the software to set, track and align work efforts and keep team members on the same page. Employees can easily view and create goals that are linked with any organizational, business unit, or teammate’s goals, allowing for superior alignment among teams. Traditional performance management processes and tools are designed to be used infrequently and often revolve around a calendar timeline, which can lead to insufficient feedback and a lack of clear alignment between employees and managers. PERFORMview eliminates these issues with automated scheduling, periodic check-in templates, and a consolidated view of continuous feedback records and options for employee development. Managers can conduct timely, recurring feedback sessions to stay in sync with employees while maintaining the integrity and value of the performance review.
PERFORMview also connects to COMPview, HRSoft’s compensation management software, directly integrating the pay for performance process as part of a singular workflow. Upcoming features include an optional calibration sub-module to help organizations better validate employee ratings and remove bias, as well as a 9-box talent assessment to identify and work with critical high potential and high performing employees.
In April 2021 HRSoft released an updated version of COMPview, its compensation management software. The COMPview V10 update uses HRSoft’s proprietary low-code technology to deliver enhancements to the company’s flagship COMPview product. The new version of the software improves the user experience for compensation managers, planning managers, and employees and has improved external integration with leading HR platforms including UKG, ADP, Workday, and Oracle.
COMPview V10 has a highly configurable home page with the option for users to include dynamic dashboards and plan navigation wizards, as well as upgraded reporting capabilities that provide drill-down insights into interactive real-time analytics. Planning worksheets within the software have been enhanced to include more in-line decision support tools for industry analysts. COMPview V10 includes prominent visibility of audit history, configurable aggregate functions by column, intelligent job listing filters for promotions, customizable compensation history screens, and rich-text notes. Additional software features include optional self-service online compensation statements for remote employees and an Advanced Compensation Calibration feature to assist planning managers with an overall analysis of pay decisions, modeling, and mass updates to selected employee groupings.
HRsoft Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying HRsoft 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 HRsoft 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 HRsoft Compensation Management Software, HRsoft Total Rewards Solution, COMPview, REWARDview, Recruitview customers.
Ownership: - x
Number of Employees: 85
Functional Markets: HCM,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K220, Higher Education, 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,
HRsoft Key Enterprise and Cloud Applications
HRsoft Compensation Management Software, HRsoft Total Rewards Solution, COMPview, REWARDview, Recruitview
HRsoft Revenues, $M:
|Type/Year||2020||2021||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.
HRsoft 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%|
HRsoft Enterprise Applications Revenues By Functional Markets, $M:
HRsoft Enterprise Applications Revenues By Verticals, $M:
HRsoft Revenues By Region, $M
|Region||% of Total Revenues||2021 Total Revenues, $M||2021 Enterprise Applications Revenues, $M||2021 Cloud Applications Revenues, $M|
HRsoft Direct vs Indirect sales
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HRsoft Customers - Breakdown by Geo, Size, Vertical and Product
No. of HRsoft Customers: 1000
No. of HRsoft Enterprise Applications Customers: 1000
No. of HRsoft Cloud Customers: x
No. of HRsoft Cloud Subscribers: x
From worldwide enterprises to midsize manufacturers, HRsoft is trusted by leading organizations across the globe. Working with companies in just about every industry, they have honed their Compensation and Total Rewards solutions to meet the needs of all companies.
Some of these clients are: Microsemi, Gannett, Wawa, DentaQuest, Masimo, Square, and many others.
HRsoft Market Opportunities, M&A and Geo Expansions
HRsoft has joined Ultimate Software's UltiPro Developer Network. The new partnership gives HRsoft and Ultimate the ability to integrate their solutions to make it easier for mutual clients to exchange data between the UltiPro HCM solution and HRsoft's compensation management software solution, COMPview.
HRsoft Risks and Challenges
Reporting can be a little robust, and the general aesthetics can use an update to give rise to expanding the client.
HRsoft Ecosystem, Partners, Resellers and SI
HRsoft partners with leading HR service providers whose offerings complement their COMPview and REWARDview solutions.
HRsoft have been named as the Preferred Compensation Partner for Ultimate Software.
Some of HRsoft partners are: Ultimate Software, Xactly, Payfactors, Conduent, Compensation & HR Group, and many others.
HRsoft Cloud Infrastructure Insights
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- HRsoft Public Cloud and Infrastructure (IaaS)
- HRsoft Platform (PaaS)
- HRsoft Application Delivery
- HRsoft Private Cloud and Data Centers
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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