Paylocity Strengths, Domain Expertise, and Key Differentiators
Paylocity's strengths lie in its cloud-based payroll and HR applications designed for midmarket companies. With a focus on providing an intuitive user experience, the platform offers flexibility and configurability, aligning seamlessly with diverse business processes. The software-as-a-service (SaaS) delivery model reduces total cost of ownership, and its open architecture supports extensive data integration with partner ecosystems.
Paylocity Recent Developments
In July 2020, Paylocity responded to the unique challenges posed by the pandemic with its COVID-19 Return to Work offerings. These additions to the Paylocity platform aimed to streamline recruiting, onboarding, and rehire processes, showcasing the company's adaptability during unprecedented times. As of the latest financial data available, Paylocity's revenue growth and profit underline its stability and resilience in the evolving HR and payroll software landscape.
Paylocity Mergers and acquisitions (M&A) Activities
In a strategic move in December 2023, Paylocity expanded its capabilities with the acquisition of TraceHQ.com, Inc., enhancing headcount planning functionality within its suite. Prior to this, the acquisition of Cloudsnap Inc. in January 2022 fortified Paylocity's integration capabilities, enabling seamless connectivity between disparate business applications. The company's acquisition spree, including Blue Marble Payroll and Samepage, reflects its commitment to broadening its HR and payroll offerings.
Paylocity Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Paylocity 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 Paylocity 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 Paylocity, customers.
Paylocity Overview
Ownership: - NASDAQ: PCTY
Number of Employees: 6100
Functional Market: Absence and Leave Management, Workforce Analytics, Scheduling, Time and Attendance, Core HR, Payroll, Benefits Administration, Compliance, Onboarding, Recruiting, Candidate Relationship Management, Applicant Tracking Systems, Performance Management, Learning and Development, Succession Planning, Compensation,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, 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,
Paylocity Key Cloud and HCM Applications
Paylocity,
Paylocity HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2022 | 2023 | 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.
Paylocity Revenue Breakdown by Type:
Paylocity HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2023 HCM Revenues, By HR Segment, $M | |
Paylocity HCM Applications Revenues By Verticals, $M:
Paylocity Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
Paylocity Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Paylocity Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Paylocity Customers
No. of Paylocity Customers: 36200
No. of Paylocity HCM Applications Customers: 36200
No. of Paylocity Cloud HCM Customers: 36200
No. of Paylocity Cloud HCM Subscribers: 3 million
With a substantial customer base of 36,200 organizations in the U.S., Paylocity caters to a diverse range of industries, including business services, healthcare, and technology. Noteworthy customers such as Lindamood-Bell Learning Processes and Uncle Julio's Corporate Office exemplify the platform's versatility and widespread adoption.
Paylocity Market Opportunities, M&A and Geo Expansions
Paylocity's opportunities lie in its innovative features, including Community, Premium Video, Surveys, Learning Management, and the Modern Workforce Index. The launch of ACA Enhanced, a compliance solution for Affordable Care Act reporting, further demonstrates Paylocity's commitment to addressing evolving regulatory landscapes. As companies focus on enhancing the employee experience, Paylocity stands poised to capitalize on these market trends.
Paylocity Risks and Challenges
While Paylocity has successfully positioned itself as a cloud-based payroll service provider, its future growth depends on redefining the payroll market through customization capabilities and multi-country support. The termination of a key reseller raises questions about its channel strategy, emphasizing the need for a balanced approach in the evolving market dynamics.
Paylocity Ecosystem, Partners, Resellers and SI
With over 300 integration partners across 20 product categories, Paylocity's open architecture facilitates seamless data management across various business platforms. The company's referral network, consisting of 401(k) advisors, benefits administrators, and HR consultants, plays a pivotal role in its sales process. Partnerships with industry giants like Fidelity Investments and innovative collaborations with EvoShare and Compeat underscore Paylocity's commitment to building a robust ecosystem.
Paylocity Cloud Platform (PaaS) and Infrastructure (IaaS) Details
Subscribe to read more about:
- Paylocity Public Cloud and Infrastructure (IaaS)
- Paylocity Platform (PaaS)
- Paylocity Application Delivery
- Paylocity Private Cloud and Data Centers
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
https://www.appsruntheworld.com/FAQ
