Paylocity Strengths, Domain Expertise, and Key Differentiators
Paylocity specializes in cloud-based payroll and HR applications for midmarket companies helping them manage their workforce effectively through easy-to-use features and simplified business processes.
The vendor provides solutions which offer comprehensive cloud-based platform optimized to meet the payroll and HCM needs of medium-sized organizations, modern, intuitive user experience and self-service capabilities that significantly increase employee engagement, flexible and configurable platform that aligns with business processes and centralizes payroll and HCM data, software as a service, or SaaS, delivery model that reduces total cost of ownership for our clients and seamless data integration with our extensive partner ecosystem that saves time and expense and reduces the risk of errors.
Paylocity Recent Developments
In July 2020, Paylocity announced its new COVID-19 Return to Work offerings to help businesses and employees navigate the unprecedented complexity of re-opening and re-energizing the workforce. New tools within the Paylocity platform help clients implement a seamless recruiting and onboarding process as they seek new candidates or bring back furloughed employees. With the Recruiting and Onboarding modules, organizations can launch virtual rehire events by automatically changing the status of furloughed employees and inviting past employees to submit applications for rehire. Clients can also easily invite candidates to apply for specific jobs, aiding in expanding talent pools. To expedite the onboarding process for rehires, Paylocity rolled out geolocation enhancements to immediately validate state and local taxes based on employees' home and work addresses.
Paylocity Mergers and acquisitions (M&A) Activities
In April 2020, Paylocity acquired VidGrid, a video platform provider. VidGrid enables peer-to-peer video learning courses, transforming video into two-way communication. With the deal, Paylocity expands its product functionality around workplace video communication and reaffirms its commitment to stronger employee collaboration, engagement and retention while helping clients prepare for the workplaces of the future.
In March 2018, Paylocity acquired BeneFLEX HR Resources, a privately held third-party benefits administration company in an all-cash transaction. The acquisition of BeneFLEX expands Paylocity product portfolio, allowing to provide additional benefit administration solutions to clients, prospects, and the insurance broker community. The combination of BeneFLEX’s expertise in this growing market and Paylocity’s leading payroll and HCM platform creates a compelling value proposition for clients and broker partners.
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.
Ownership: - PCTY: Nasdaq
Number of Employees: 3600
Functional Market: Workforce Analytics, Workforce Scheduling, Time and Attendance, Core HR, Payroll, Benefits Administration, Compliance, Onboarding, Recruiting, Candidate Relationship Management, Performance and Goal Management, Learning and Development,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, 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 Nonprofit, Special Cause Nonprofit, Oil and Gas, Professional Services, Retail, Transportation, Utilities,
Paylocity Key Cloud and HCM Applications
Paylocity HCM and Cloud HCM Applications Revenues, $M:
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|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.
Paylocity Revenue Breakdown by Type:
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Paylocity HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets
2019 HCM Revenues, By Sub-Functional Markets, $M
Paylocity HCM Applications Revenues By Verticals, $M:
Paylocity Total and HCM Applications Revenues by Region:
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Paylocity Direct vs Indirect sales
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Paylocity Customers - Breakdown by Geo, Size, Vertical and Product
No. of Paylocity Customers: 24450
No. of Paylocity HCM Applications Customers: 24450
No. of Paylocity Cloud HCM Customers: 24450
No. of Paylocity Cloud HCM Subscribers: 3 million
Paylocity has 24,450 customers in the US, which include for-profit and non-profit organizations across industries including business services, financial services, healthcare, manufacturing, restaurants, retail, technology and many others.
Among its customers are Lindamood-Bell Learning Processes, Gerding Edlen, LeSaint Logistics, Uncle Julio's Corporate Office, RJN Group, Groupone, Patrick Dealer Group, Landmark Dividend, Ravinia Associates In Internal Medicine, and others.
Paylocity Market Opportunities, M&A and Geo Expansions
Paylocity released ACA Enhanced, a new compliance solution to help clients manage the reporting requirements of the Affordable Care Act (ACA).
In addition to its core payroll engine, Paylocity has layered on top of it an array of services like benefits administration as well as interfaces for third-party products for accounting, point of sale, bank communication, expense management, recruiting, background screening and skills assessment in order to give customers full visibility into their financial management and human resources systems. In doing so, Paylocity is positioning itself as the business process enabler beyond the traditional confines of a payroll services provider.
In June 2018, Paylocity launched Integration Marketplace, a tool for clients to easily and quickly identify integration partners and capabilities. The addition of the marketplace further strengthens Paylocity’s longstanding commitment to providing a superior experience to clients, whether they are using the entire proprietary product suite, or integrating with their preferred point solutions.
Paylocity Risks and Challenges
Paylocity is among a new crop of Cloud-based payroll service providers that have leapfrogged incumbents such as ADP and Ceridian by emphasizing its flexible, scalable and easy to use software templates.
The next phase of growth will depend on Paylocity’s ability to redefine the payroll market with more customization capabilities as well as multi-country support through internal development efforts or partner contributions.
However, Paylocity appears to be reevaluating the role of its partners including resellers. A few years ago Paylocity terminated one of its two key resellers. It's not clear whether Paylocity plans to find a substitute or decide to streamline its channel program.
Paylocity Ecosystem, Partners, Resellers and SI
With 300+ integration partners across 20 product categories, Paylocity's open architecture allows users to streamline the management of payroll and human resources data across different business platforms.
Paylocity has also developed a referral network of third-party service providers, including 401(k) advisors, benefits administrators, insurance brokers, third-party administrators and HR consultants, that recommend its solutions and provide referrals. Paylocity's referral network has become an increasingly important component of its sales process, earning 25% of its new client revenue originated by referrals from participants in the Paylocity referral network.
In October 2019, EvoShare, a micro-savings technology company, and Paylocity partnered to fully automate the process of finding additional savings account contributions with cash-back from employees’ everyday spending, with unprecedented ease-of-use and scalability for HR and Payroll teams. The same month in 2019, Compeat, a provider of innovative restaurant accounting, back office, workforce, and intelligence management software, partnered with Paylocity.
Paylocity Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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- Paylocity Public Cloud and Infrastructure (IaaS)
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- Paylocity 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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