PrimePay Strengths, Domain Expertise, and Key Differentiators
PrimePay stands out in the payroll service and human capital management (HCM) arena with several notable strengths. Firstly, its robust suite of solutions serves as a key differentiator, offering highly configurable HR and payroll tools tailored to meet diverse business needs. Secondly, PrimePay boasts extensive domain expertise, underpinned by a deep understanding of regulatory requirements and industry best practices, ensuring clients remain compliant and ahead of the curve.
The company's product portfolio is enriched features, enhancing efficiency and accuracy in payroll processing and HR tasks. Trengths positions PrimePay as a trusted partner for businesses nationwide, enabling them to streamline operations and focus on strategic growth initiatives.
PrimePay Recent Developments
In 2023, PrimePay, a prominent figure in the realm of national human capital management (HCM) technology, with the introduction of its Payroll-Connected On-Demand Pay in collaboration with Clair, aimed at assisting employees in managing immediate expenses. This innovative integration with Clair enables PrimePay to seamlessly offer earned wage advance loans through its payroll and HR technology, eliminating disruptions to working capital and payroll administration. Scott Johnson, Chief Executive Officer of PrimePay, emphasized the importance of this initiative amidst the ongoing worker shortage, highlighting how it enables employers to attract and retain talent effectively while empowering workers with greater financial flexibility.
In 2023, PrimePay, a leading human capital management (HCM) company catering to small and midsize businesses, has unveiled a comprehensive rebranding initiative aimed at fortifying its position in the market. The heart of its rebranding is the consolidation of company names to PrimePay – following the integration of PrimePay and SyncHR products into one platform under a unified name and platform, accompanied by a fresh logo, tagline, and brand identity. The new logo captures PrimePay’s essence, embodying its core values and representing its position to make payroll and HR complexity disappear for small and midsize businesses. The new branding will also extend to its product suite with a refreshed visual experience.
In 2023, PrimePay, a leading provider of human capital management (HCM) SaaS solutions tailored for growing businesses, has announced significant advancements in its mobile employee self-service (ESS) portal, marking a pivotal stride towards enhancing convenience and accessibility businesses.CEO, Scott Johnson, underscores the importance of responsive HCM solutions that transcend traditional workplace boundaries. The upgraded mobile-first experience offers employees seamless onboarding, unprecedented control over their pay, intuitive process guidance, timely notifications, and a secure interface—all designed to empower employees to manage their HR tasks effortlessly from any location or device.
PrimePay announced a strategic investment from Aquiline Capital Partners, a private investment firm based in New York and London with $6.1 billion in assets under management.
PrimePay Mergers and acquisitions (M&A) Activities
PrimePay acquired SyncHR, an all-in-one HR, payroll, and benefits management software provider purposely built for mid-sized enterprises. This acquisition combines two industry leaders with full-suite People Management software and service solutions, creating a leading HCM offering for emerging and mid-enterprise firms. As the companies unite, the resulting solutions can be scaled accordingly, providing these organizations with industry-leading insights and efficiencies to drive business operations and growth.
PrimePay Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying PrimePay 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 PrimePay 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 PrimePay HR, PrimePay Payroll customers.
PrimePay Overview
Ownership: - x
Number of Employees: 600
Functional Market: Absence and Leave Management, Workforce Analytics, Time and Attendance, Core HR, Payroll, Benefits Administration, Compliance, Sourcing, Onboarding, Recruiting, Candidate Relationship Management, Applicant Tracking Systems, Performance Management, Learning and Development,
Key Verticals: Banking and Financial Services, Construction, Real Estate, Consumer Packaged Goods, Distribution, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Professional Services, Retail,
PrimePay Key Cloud and HCM Applications
PrimePay HR, PrimePay Payroll
PrimePay 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.
PrimePay Revenue Breakdown by Type:
PrimePay 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 | |
PrimePay HCM Applications Revenues By Verticals, $M:
PrimePay 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 |
PrimePay Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
PrimePay Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified PrimePay Customers
No. of PrimePay Customers: 18000
No. of PrimePay HCM Applications Customers: 18000
No. of PrimePay Cloud HCM Customers: 18000
No. of PrimePay Cloud HCM Subscribers: x
With a clientele surpassing 18,000 customers including Aspirion, Solution Group, Stagnaro Bros. Seafood, SERVPRO of Anniston, and Nova Care Agency, PrimePay stands as a premier HCM technology and services provider for small and midsize businesses. Its extensive reach underscores its commitment to delivering tailored solutions to a diverse array of clients across various industries.
Through highly configurable cloud-based software and services, PrimePay empowers organizations to effectively navigate the complexities of talent acquisition, workforce management, and compliance, ensuring they can thrive amidst dynamic business environments.
PrimePay Market Opportunities, M&A and Geo Expansions
PrimePay Opportunities intersect with Equifax's latest integration, amplifying the scope of HR and payroll services. By leveraging Market Opportunities, PrimePay expands its reach, introducing tailored solutions for small and medium businesses.Through seamless access to The Work Number database, PrimePay empowers employers to streamline verification processes, embracing automation to enhance efficiency and privacy. This strategic alignment not only modernizes HR and payroll functions but also underscores PrimePay's commitment to harnessing innovative technologies for the benefit of businesses and their employees.
PrimePay Risks and Challenges
In 2023, PrimePay, the human capital management (HCM) SaaS company, appointed Suzanne Fohl as Chief Financial Officer (CFO) and Mike Barbary as General Counsel, signaling a strategic move towards bolstering its leadership team. While this expansion promises enhanced financial oversight and legal expertise, it also poses certain risks both internally and externally, alongside go-to-market challenges. As PrimePay looks to leverage their expertise to accelerate growth, it must also address these inherent risks to ensure sustainable success in delivering innovative HCM solutions for customer.
PrimePay Ecosystem, Partners, Resellers and SI
PrimePay, a payroll, human resources (HR), and benefit services company, partnered with TPA Stream, an insurance technology software company. Through their collaboration, PrimePay and TPA Stream will streamline health care claims processing by simplifying the burdensome administrative tasks required for tax-free reimbursement processing.
PrimePay Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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- PrimePay Public Cloud and Infrastructure (IaaS)
- PrimePay Platform (PaaS)
- PrimePay Application Delivery
- PrimePay 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
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