Paycor Strengths, Domain Expertise, and Key Differentiators
Paycor is a human capital management (HCM) software that provides cloud-based onboarding, HR, payroll, and timekeeping software capabilities. Paycor’s HCM platform modernizes every aspect of managing the people in organizations, from the initial recruitment, retainment, and paying them via payroll. Paycor’s HCM software makes managing day-to-day operations easier via applicant tracking, reducing administrative tasks for open enrollment and benefits, to keeping an eye on payroll costs.
Paycor Recent Developments
In September 2021, Paycor added an enhancement to their HCM solution—an Immunization Tracker that helps business leaders manage and track the immunization status of their employees. Workers can upload proof of vaccination, or a negative COVID test directly to the system, and HR leaders can run a report to see immunization status across the organization. This new feature will help ensure businesses are compliant with impending employment policies and positions Paycor as one of the first HCM providers to offer an immunization tracker that is fully integrated into their platform.
In April 2021, Paycor launched the Recognition feature as part of the HR product offering, allowing leaders and peers to recognize the efforts of their teams directly through the platform. This feature provides leaders with another method of motivating and engaging their teams.
"In July 2020, Paycor launched Paycor Pulse, an employee engagement solution that utilizes Natural Language Processing (NLP Artificial Intelligence) to immediately turn written data into valuable insights around Employee Sentiment, enabling leaders to get ahead of potential problems like turnover and low morale. This announcement furthers Paycor's commitment to providing human resources (HR) and business leaders the tools they need to navigate the new reality of work.
In March 2020, Paycor unveiled Open Enrollment Wizard, a new feature of Paycor’s benefits administration software that streamlines the open enrollment process for small to medium-sized businesses (SMB) from start to finish, providing a step-by-step guide through the design, set-up, and execution of any open enrollment event. With the launch of this new tool, Paycor continues to deliver on its promise to provide business leaders with best-in-class technology and industry-leading expertise to streamline human resources (HR) processes so leaders can focus on their strategic goals and gain a deeper understanding of their business.
Furthermore, the same year, Paycor launched its new Scheduling and Scheduling Pro solutions that enhance its Time and Attendance offers. Paycor’s scheduling solutions help organizations take control of labor costs as well as optimize staff to increase efficiency and productivity by simplifying and automating the processes for scheduling employees.
In January 2018, Paycor created an HR Center of Excellence, an online resource hub to help HR leaders and their teams build employee evangelism and make a lasting impact on their companies. The HR Center of Excellence was created to help HR professionals extend their reach and unlock their potential. Based on user group sessions, one-on-one interviews with HR professionals and business leaders, third-party research, survey data and insights from more than 36,000 small and medium businesses who use Paycor, the HR Center of Excellence provide advice, inspiration and action items HR leaders need to make a difference in their organizations."
Paycor Mergers and acquisitions (M&A) Activities
In September 2020, Paycor acquired 7Geese, goal setting, and performance management company. 7Geese’s platform will be fully integrated into Paycor’s product portfolio, enabling customers to further focus on what matters most to their businesses – their employees.
In May 2019, Paycor acquired Ximble, a cloud-based employee scheduling solution. Ximble’s scheduling offering will be fully integrated into Paycor’s product suite, enabling customers to efficiently assign schedules and allowing employees to easily swap schedules.
Paycor Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Paycor 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 Paycor 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 Paycor customers.
Ownership: - Nasdaq: PYCR
Number of Employees: 2067
Functional Market: Workforce Analytics, Workforce Scheduling, Time and Attendance, Core HR, Payroll, Benefits Administration, Compliance, Onboarding, Recruiting, Candidate Relationship Management, Applicant Tracking Systems, Performance Management, Learning and Development, Succession and Leadership Planning, Compensation Management,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K651, 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,
Paycor Key Cloud and HCM Applications
Paycor HCM and Cloud HCM Applications Revenues, $M:
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|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|HCM Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud 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.
Paycor Revenue Breakdown by Type:
|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%|
Paycor HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets
2021 HCM Revenues, By Sub-Functional Markets, $M
Paycor HCM Applications Revenues By Verticals, $M:
Paycor Total and HCM Applications Revenues by Region:
|Region||% of Total Revenues||2021 Total Revenues, $M||2021 HCM Applications Revenues, $M|
Paycor Direct vs Indirect sales
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Paycor Customers - Breakdown by Geo, Size, Vertical and Product
No. of Paycor Customers: 41000
No. of Paycor HCM Applications Customers: 41000
No. of Paycor Cloud HCM Customers: 41000
No. of Paycor Cloud HCM Subscribers: 2 millions
Paycor has 40,000 customers running its payroll and HR solutions. The acquisition of Newton added another 1,000.
Among Paycor's customers are A-TEC Ambulance Inc, Adams & Harper, PA, Akron Veterinary Referral & Emergency Center, Archdiocese of Louisville, Caribe Royale, Carlie C's, Cincinnati Opera, Caribe Royale, Focal Point, MANNA FoodBank, Peppino's Grille & Pizzeria, Virginia Tile Company, and many others.
Paycor Market Opportunities, M&A and Geo Expansions
In July 2021, Paycor rang the bell on the Nasdaq stage! Paycor will be operating now as a public company, which gives them room to grow in the future. Paycor is listed as PYCR on the Nasdaq.
In July 2020, Paycor launched new programming that further supports broker partners and their customers. The launch of Paycor’s Partner Loyalty Program, Broker Care, GUIDE Elite/GUIDE Elite Pro Implementation, and an Inaugural Broker Advisory Council will allow Paycor to uniquely serve the needs of broker partners and shared customers as the importance of benefits and employee wellness is on the rise.
In March 2018, Paycor expanded its seasoned executive team with the appointments of a Chief Product Officer and a Chief Technology Officer. The addition of these two HR industry veterans comes on the heels of a banner year for Paycor with two robust product releases — Workforce Insights, a new data visualization solution, and a Learning Management System.
Earlier, in December 2017, Paycor made integration with Web Benefits Design."
Paycor Risks and Challenges
With an expanded product portfolio, Paycor aims to compete directly with ADP, Ceridian and Paychex. The risk is whether it would lead to a price war among these payroll providers.
Paycor Ecosystem, Partners, Resellers and SI
Mostly direct sales with help from partner network.
In November 2019, Paycor joined the Blackbaud Partner Network as a Blackbaud Technology Partner. With this partnership, Paycor joins a network of companies that provide applications and offerings that extend Blackbaud’s cloud solutions in new ways. With Blackbaud and Paycor, nonprofits can now track time and labor for specific grants and funding sources.
Some of Paycor's integration partners are: Ascensus, Ameritas, BerniePortal, BSwift, Certify, PAi Retirement Services, Employment Screening Resources, HIREtech, Matrix, Mutual of America Life Insurance Company, Nationwide Mutual Insurance Company, and many others.
Paycor Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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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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