PrismHR Strengths, Domain Expertise, and Key Differentiators
The PrismHR cloud focuses on selling comprehensive HR software for the HRO and PEO industries. The PrismHR platform provides a full range of integrated capabilities, including payroll processing, benefits, and human resources administration, billing, new hire onboarding, benefits enrollment, and self-service.
PrismHR Recent Developments
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 September 2022, Namely, the HR platform for mid-sized companies merged with the organization created by the combination of Vensure Employer Services and PrismHR. The new entity created through the combination of Vensure and PrismHR is delivering human capital management solutions for every stage of a company’s growth and complexity. Namely further expands the full-service functionality by adding its technology solutions that are used by more than 1,100 mid-sized clients.
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: 350
Functional Market: 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 | 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.
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 | 2023 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 | 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 |
PrismHR Direct vs Indirect sales
| Region | 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: x
No. of PrismHR HCM Applications Customers: x
No. of PrismHR Cloud HCM Customers: x
No. of PrismHR Cloud HCM Subscribers: x
PrismHR powers more than 88,000 organizations, delivering payroll, benefits, and HR to more than 2.2 million worksite employees annually and processing greater than $57 billion in payroll each year.
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
In February 2021 ClearCompany and PrismHR formed a partnership to improve employee engagement and retention. ClearCompany’s Performance Management and Employee Engagement suites have been integrated with the PrismHR platform and the platform is now available to PrismHR service providers and their small-business customers.
PrismHR partnered with Doctegrity to provide 24/7/365 telemedicine services to its network of HR service providers and their small business customers nationwide. PrismHR service provider partners can offer Doctegrity’s industry-leading telemedicine services in addition to existing healthcare plans, which often don’t cover telemedicine or charge co-pays, to their employees, including those working part-time.
In 2020 PrismHR partnered with Payroll Funding that can deliver fast access to financial resources for PrismHR’s nationwide network of HR service providers and their small business clients.
PrismHR has a partnership with Compass Consulting Group, EPAY Systems Time & Labor, EverythingBenefits, FinFit, Workcycles, JazzHR, JuvodHR, MasterTax, McHenry Consulting and others.
PrismHR Cloud Platform (PaaS) and Infrastructure (IaaS) Details
Subscribe to read more about:
- PrismHR Public Cloud and Infrastructure (IaaS)
- PrismHR Platform (PaaS)
- PrismHR Application Delivery
- PrismHR 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
