PrismHR Strengths, Domain Expertise, and Key Differentiators
PrismHR excels in its deep expertise in the outsourced HR industry. It provides a cloud-based, comprehensive platform that manages everything from payroll and onboarding to benefits and billing, all within scalable modules designed specifically for service providers.
Integrations with AI-powered platforms like ClearCompany, which focuses on employee engagement and performance management, and EverythingBenefits, which automates benefits management, enhance the intelligence of PrismHR's offerings. With a robust API framework and a flexible technology stack, PrismHR sets itself apart through an open ecosystem, vertical-specific features, and high configurability.
PrismHR Recent Developments
In October 2023, PrismHR appointed Kevin Andrews as its new president. He previously joined the company in 2022 as the President of Product and Technology.
In his new role, Andrews will oversee the growth of PrismHR’s platform and technology offerings. He will also maintain his position as Chief Technology Officer at the parent company, Vensure Employer Solutions, and serve as an adviser to its board.
In October 2023, PrismHR, an HR technology software innovator catering to PEOs, ASOs, and HCM providers throughout the United States, introduced a Unified Employee Experience (UEX) update. Drawing inspiration from the Namely UI, PrismHR UEX incorporates well-established design principles to enhance user task intuitiveness in any scenario. This update encompasses new manager and employee views, expanded configuration options, heightened accessibility, and improved responsiveness.
PrismHR Mergers and acquisitions (M&A) Activities
In October 2023, PrismHR appointed Kevin Andrews as its new president. He previously joined the company in 2022 as the President of Product and Technology.
In his new role, Andrews will oversee the growth of PrismHR’s platform and technology offerings. He will also maintain his position as Chief Technology Officer at the parent company, Vensure Employer Solutions, and serve as an adviser to its board.
In October 2023, PrismHR, an HR technology software innovator catering to PEOs, ASOs, and HCM providers throughout the United States, introduced a Unified Employee Experience (UEX) update. Drawing inspiration from the Namely UI, PrismHR UEX incorporates well-established design principles to enhance user task intuitiveness in any scenario. This update encompasses new manager and employee views, expanded configuration options, heightened accessibility, and improved responsiveness.
PrismHR Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying PrismHR 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 PrismHR 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 PrismHR customers.
PrismHR Overview
Ownership: - Stone Point Capital
Number of Employees: 500
Functional Market: Absence Management, Workforce Analytics, Time and Attendance, Core HR, Payroll, Benefits Administration, Onboarding, Recruiting, Applicant Tracking Systems, Performance Management,
Key Verticals: Professional Services,
PrismHR Key Cloud and HCM Applications
PrismHR
PrismHR 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.
PrismHR Revenue Breakdown by Type:
PrismHR 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 | |
PrismHR HCM Applications Revenues By Verticals, $M:
PrismHR 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 |
PrismHR Direct vs Indirect sales
| Type | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
PrismHR Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified PrismHR Customers
No. of PrismHR Customers: 100000
No. of PrismHR HCM Applications Customers: x
No. of PrismHR Cloud HCM Customers: x
No. of PrismHR Cloud HCM Subscribers: x
PrismHR has established a strong presence in the outsourced HR provider market, supporting over 1000,000 organizations and 2.2 million employees on its platform. The company primarily serves small to mid-sized businesses through indirect channels, allowing Professional Employer Organizations (PEOs) and Administrative Services Organizations (ASOs) to enhance their offerings with white-labeled services.
Although specific customer data by region is not publicly available, PrismHR's client base is primarily concentrated in the U.S., with a strategic focus likely in states with higher compliance requirements such as California, New York, and Texas.
The integration with Namely has added over 1,100 mid-sized enterprise clients, further expanding PrismHR's influence in the growing middle market, which is increasingly seeking agile, cloud-native Human Capital Management (HCM) solutions.
PrismHR Market Opportunities, M&A and Geo Expansions
PrismHR, a provider of HR technology software disclosed the introduction of Recuro Health as its latest addition to the PrismHR Marketplace. As part of Vensure Employer Solutions, PrismHR offers a comprehensive suite of HR technologies encompassing payroll, benefits, and other essential services for businesses throughout the U.S. Recuro Health, the newly onboarded partner, specializes in delivering accessible healthcare solutions to employees, featuring urgent care telehealth, prescription plans, and on-demand counseling services.
This strategic collaboration aims to extend telehealth and wellness benefits to the clients of HR service providers utilizing PrismHR's platform, offering a convenient and timely healthcare access solution to a broader spectrum of businesses across the country.
PrismHR Risks and Challenges
Following the merger with Vensure Employer Solutions and Namely, PrismHR faces the potential of integration into the expanding and diverse portfolio of HR technology within Stone Point Capital's robust ecosystem. This transition introduces considerations related to strategic alignment and the overall synergies expected within the broader landscape of Stone Point Capital's HR technology investments.
PrismHR Ecosystem, Partners, Resellers and SI
PrismHR’s strength lies in its extensive partner ecosystem, which facilitates rapid feature expansion and enhances customer loyalty. Its indirect go-to-market strategy, supported by Professional Employer Organizations (PEOs) and Administrative Services Organizations (ASOs), enables PrismHR to concentrate on platform development while scaling through service providers.
Key integrations with technology partners such as ClearCompany, EPAY Systems, FinFit, JazzHR, Workcycles, and EverythingBenefits create a modular Human Capital Management (HCM) stack that benefits from network effects. Recent partnerships with Doctegrity and Recuro Health demonstrate PrismHR’s commitment to wellness and healthcare integration.
Furthermore, its connections with consulting and implementation firms, such as Compass Consulting and McHenry, strengthen its capacity to deliver comprehensive, configurable solutions to small and mid-sized businesses (SMBs) and mid-market segments.
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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