IRIS Software Strengths, Domain Expertise, and Key Differentiators
IRIS Software Group excels in delivering integrated software solutions that streamline critical business processes in accountancy, HR, payroll, and education. Its cloud-based platforms, developed through advanced R&D centers in India and Romania, offer scalability and compliance-focused features.
For nearly four decades, IRIS is the UK's provider of business-critical software and services to the UK accountancy and payroll sectors. IRIS offers HR applications as part of its ERP suite. The IRIS vision is to liberate time, talent, and energy of UK businesses to enable them to stay one-step-ahead of their competition.
IRIS helps achieve this through innovative software and services that automate the mundane, but critical day-to-day business tasks. Their software takes the burden of compliance, enables productivity, facilitates collaboration, and provides insight for UK businesses to connect and serve an increasingly new generation of customers.
IRIS Software Recent Developments
In early 2024, the company launched Every Payroll by IRIS, a cloud-based payroll solution designed to simplify complex processes for educational institutions, addressing unique needs like pension filings and salary structures. Additionally, enhancements to its accountancy suite have streamlined tax reporting and billing, improving efficiency for accounting professionals.
In June 2021, IRIS Software Group announced its Accountancy Suite Spring 2021 release to help accountants work smarter, not harder. This includes enhancements to streamline and reduce errors in business tax submissions, simplify tax reporting for support loans and grants, and make billing clients quicker and easier.
In May 2020, IRIS Software Group launched a new business-to-employee communications tool designed to keep the lines of communication open between HR teams and employees working remotely. IRIS Engage will help staff stay up to date with the latest information and provide the support needed while they are in isolation due to Coronavirus.
IRIS is the UK's provider of business-critical software and services to the UK accountancy, payroll and education sectors has 40 years of​ experience. Their solutions are delivered as a choice of integrated on-premise software and cloud-based applications - managed under the leading IRIS, PTP, KashFlow, Keytime, Taxfiler, Cascade, 12pay, Star, Earnie, PS Financials, ParentMail, Contact Group and School Asset Manager brands.
IRIS Software Mergers and acquisitions (M&A) Activities
In 2024, IRIS Software Group acquired Swipeclock, a U.S. leader in workforce management solutions, to enhance its Human Capital Management (HCM) suite, including payroll, HR, and recruitment offerings. The acquisition integrates Swipeclock’s WorkforceHub and ApplicantStack platforms, accelerating innovation and addressing the complexities of modern workforce management, such as remote work and gig economy demands. IRIS will invest additional capital to advance Swipeclock’s product roadmap and support its 1,300+ partner network, serving over 45,000 customers. Swipeclock will operate independently within IRIS, with product development bolstered by IRIS’s global team. This move follows IRIS’s £3.15bn valuation in 2023, supported by LGP and Hg investments.
In November 2023, IRIS Software Group (IRIS), a provider of accountancy, human capital management (HCM), and education solutions, announced the acquisition of Bishop Fleming’s Payroll Service Bureau. This transaction allows the top 30 UK professional services firm to divest its payroll service, enabling a strategic focus on core growth areas including audit, accounting, tax, and advisory services.
In November 2021, IRIS Software Group acquired education compliance and HR management software specialist Every. On top of that in October IRIS acquired Dataplan, a leading specialist in outsourced payroll, pension and HR services.
In October 2019, IRIS Software Group acquired Star, a global provider of Practice Management software solutions for accounting firms. It follows the acquisition of Star Payroll in 2018 and forms part of IRIS Software Group’s strategic plan to fuel international expansion in English speaking countries, predominantly in the United States. Star provides an opportunity to service the needs of accounting firms requiring practice management with a functionally rich and technically advanced solution focused on the needs of CPA firms.
In September 2019, IRIS Software Group acquired Innervision, a global provider of lease accounting software, lease management consultancy, and services. The deal is the next step in IRIS Software Group’s strategy to lead with compliance-driven software expertise in domestic and international markets.
In August 2019, IRIS Software Group, is today announcing it has entered into a definitive agreement to acquire FMP Global, from Tenzing, the UK lower mid-market investor. FMP is a leading provider of payroll and HR services to international and UK based Small and Medium sized Enterprises. Set to be the largest acquisition by IRIS to date, FMP Global is closely aligned with the Group’s mission to be the most trusted provider of mission critical software and services. In the UK, US and internationally, FMP supports over 1,750 businesses in 135 countries, providing international HR consultancy, outsourced global payroll services, and international money transfers.
In July 2019, IRIS Software Group acquired BioStore Ltd. BioStore’s identity management and cashless catering solutions are used by over 3,000 UK schools and sixth form colleges to improve and streamline access control and how catering services are delivered. The acquisition extends the IRIS education portfolio, providing solutions to manage all aspects of school management, including finance, assets, and communications.
In September 2018, IRIS Software Group acquired Taxfiler, the cloud tax, and accounts provider for small accountancy practices, and says it plans to integrate the acquisition with others of its products for this market to create a digital compliance solution tailored to smaller practices.
In January 2017 IRIS Software Group acquired financial management software firm PS Financials. Peterborough-headquartered PS Financials provides accounting, purchasing, budgeting, and reporting software to more than 2,900 organizations. The acquisition brings 136 highly skilled and experienced staff into IRIS across two locations – Peterborough and London.
IRIS Software Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying IRIS Software 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 IRIS Software 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 IRIS Cloud Solutions, customers.
IRIS Software Overview
Ownership: - x
Number of Employees: 1750
Functional Market: Absence Management, Workforce Analytics, Core HR, Payroll, Compliance,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction and Real Estate, CPG, Distribution, Education, Government, Healthcare, Insurance, Leisure and Hospitality, Life Sciences, Manufacturing, Media, Non Profit, Oil Gas Chemicals, Professional Services, Retail, Transportation, Utility,
IRIS Software Key Cloud and HCM Applications
IRIS Cloud Solutions,
IRIS Software HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2023 | 2024 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** 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.
IRIS Software Revenue Breakdown by Type:
IRIS Software HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2024 HCM Revenues, By HR Segment, $M | |
IRIS Software HCM Applications Revenues By Verticals, $M:
IRIS Software Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2024 Total Revenues, $M | 2024 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
IRIS Software Direct vs Indirect sales
| Type | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
IRIS Software Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified IRIS Software Customers
No. of IRIS Software Customers: 120000
No. of IRIS Software HCM Applications Customers: x
No. of IRIS Software Cloud HCM Customers: x
No. of IRIS Software Cloud HCM Subscribers: x
IRIS Software Group helps over 120,000 businesses, schools, and public sector organizations successfully manage their critical operational tasks.
Among its customers are KandyToys Ltd, The Independent Homecare Team, Smiles Ahead, Burgess Logistic Solutions, Twickenham Plating Group Ltd, Ormerod Home Trust, TP Jones&Co LLP, ICL Plastics, Total Labour Solutions, Whitecraigs Golf ClubGraeme Cook Solicitors, Switchtec Ltd, Burgess Consultancy, Advertiser&Times Hants, Art&Industrial Engraving Ltd, SWL Security Services, Chandler&Skitmore Ltd, Heritage Hotel, James Tonk Tree Surgery, David Scott&Co, Stephenson Sheppard, Sole Associates, Sinclair Scott, Foxtons Estate Agents.
IRIS Software Market Opportunities, M&A and Geo Expansions
The growing demand for cloud-based software presents significant opportunities for IRIS Software Group to expand its market share, particularly in emerging markets undergoing digital transformation. The integration of artificial intelligence and advanced analytics into its platforms could further enhance offerings like predictive workforce management and automated compliance tools.
In September 2021, IRIS Software Group (IRIS) expanded its presence in North America by acquiring Conarc, a leading document management software provider for CPA firms. This strategic move follows IRIS's acquisition of Doc.It in July 2021 and reflects its commitment to broadening its range of practice management and productivity solutions to meet the evolving needs of CPA firms in the region.
In August 2019, IRIS Software Group announced its agreement to acquire FMP Global, a prominent provider of payroll and HR services to Small and Medium-sized Enterprises (SMEs) in the UK and internationally. This acquisition, which is set to be IRIS's largest to date, aligns closely with the company's goal of becoming the most trusted provider of mission-critical software and services. FMP Global serves over 1,750 businesses across 135 countries, offering international HR consultancy, outsourced global payroll services, and international money transfers.
IRIS Software Risks and Challenges
IRIS Software Group faces risks tied to rapid technological advancements, requiring continuous investment to maintain its competitive edge. The recent leadership transition, with the appointment of an interim CEO in late 2024, may introduce short-term strategic uncertainties if the new global leader lacks deep industry expertise. Evolving data privacy regulations, such as GDPR, increase compliance costs and complexity. Additionally, intense competition from global software providers and potential cybersecurity threats to its cloud platforms pose challenges, necessitating robust security measures and differentiation strategies.
In October 2023, IRIS Software Group (IRIS) announced Mark Chambers as the new Managing Director (MD) for Accountancy, tasked with driving the adoption and support of the industry-leading accountancy cloud platform, IRIS Elements. This appointment may pose a risk if Chambers lacks sufficient experience or expertise in overseeing such a critical aspect of the company's operations.
IRIS is banking on a host of Cloud applications, desktop accounting software provider primarily to the accounting professionals, to help transform the vendor from its roots. The transition is a work in progress, its future will depend on whether its owner plans to retain or sell it off when the timing is right.
IRIS Software Ecosystem, Partners, Resellers and SI
IRIS Software Group (IRIS) unveiled a strategic partnership with Experian, a leading global information services company. This collaboration aims to enhance accessibility to superior financial products and services for the significant portion of UK workers—approximately one in six—who rely on IRIS's software for their payroll needs.
In November 2021, IRIS Software Group (IRIS) and School Business Services (SBS) formed a new partnership which will enable SBS’ school and trust customers to take advantage of the fully integrated IRIS Ed:gen suite alongside its essential on-the-ground, local support.
IRIS primarily sells direct.
Among its technology partners are: Farmplan, Sapphire Systems Ltd, Capita Workforce Management, Advanced, Civica and many others.
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/taxonomy
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