ReadyTech Strengths, Domain Expertise, and Key Differentiators
ReadyTech, a leading provider of people management software, excels in innovative solutions for education, workforce, and career transitions. Their comprehensive suite includes student and apprenticeship management, payroll, HR admin, work health and safety, employment services, and behavioral science tech. With a people-centric approach and global readiness, ReadyTech leverages deep market expertise to deliver meaningful outcomes, fostering lasting relationships and community well-being.
ReadyTech Recent Developments
Leveraging the success of Ready AI, ReadyTech has strategically implemented artificial intelligence across its product portfolio. In the fiscal year 2023, Ready AI, an AI/ML predictive tool, was introduced to forecast the likelihood of student and apprentice drop-out. This innovative solution empowers customers to proactively identify risks and develop targeted, automated support plans, ultimately minimizing churn and enhancing overall efficiency.
ReadyTech Mergers and acquisitions (M&A) Activities
In 2022, ReadyTech announced the acquisition of PhoenixHRIS, a cloud-based talent management system specializing in online recruitment. The acquisition includes key modules for job requisition, recruitment, video screening, candidate testing, and verification. Additionally, ReadyTech completed the acquisition of IT Vision, enhancing its position as a local government software provider with 190 new customers. IT Vision will be integrated into ReadyTech's Government & Justice segment, and its management team will be retained.
ReadyTech Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying ReadyTech 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 ReadyTech 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 HR3 Cloud, ePayroll, JR Plus, Zambion, AussiePay customers.
ReadyTech Overview
Ownership: - ASX:RDY
Number of Employees: 450
Functional Market: Absence and Leave Management, Workforce Analytics, Time and Attendance, Core HR, Payroll, Compliance, Onboarding, Recruiting, Candidate Relationship Management, Applicant Tracking Systems, Performance Management, Learning and Development, Succession Planning,
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, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
ReadyTech Key Cloud and HCM Applications
HR3 Cloud, ePayroll, JR Plus, Zambion, AussiePay
ReadyTech 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.
ReadyTech Revenue Breakdown by Type:
ReadyTech 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 | |
ReadyTech HCM Applications Revenues By Verticals, $M:
ReadyTech 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 |
ReadyTech Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
ReadyTech Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified ReadyTech Customers
No. of ReadyTech Customers: 4000
No. of ReadyTech HCM Applications Customers: x
No. of ReadyTech Cloud HCM Customers: x
No. of ReadyTech Cloud HCM Subscribers: x
ReadyTech currently has a customer base of more than 4000 companies.
ReadyTech Market Opportunities, M&A and Geo Expansions
In November 2019, ReadyTech unveiled its digital credentials technology for Australian education and training providers, establishing a strategic alliance with Credly, a prominent US-based digital credential provider. This collaboration empowers vocational education and training (VET) as well as higher education providers utilizing ReadyTech's suite of student management systems to seamlessly generate and issue digital credentials for both current and former students.
Aligned with its commitment to advancing education, ReadyTech endeavors to facilitate the integration of digital credentials among its education clientele. By acknowledging and rewarding incremental learning achievements and demonstrated skills, the initiative aims to elevate student completion rates. This approach is designed to create more engaging learning paths, thereby enhancing the overall student learning experience.
This initiative offers providers the opportunity to enhance their brand visibility and market presence. Through the digital sharing of credentials within online communities of 'digital native' student cohorts, education providers can strengthen their connections and appeal. The flexibility inherent in this system also enables providers to align training and recognition with the genuine requirements of employers, thereby bolstering overall employability prospects.
ReadyTech Risks and Challenges
The prospect of entering a broader global market poses a challenge for consideration.
ReadyTech Ecosystem, Partners, Resellers and SI
IT Vision's strategic partnership with Salesforce introduces Altus Customer Experience for Local Government. Powered by CFSuite, it modernizes customer service with a user-friendly portal. Implemented in Coolgardie, WA, and Marion, SA, it aligns with Marion's digital transformation for enhanced productivity and personalized service.
Flare HR provides a comprehensive suite, including employee onboarding, engagement tools, benefits, and wellness products, along with support for financial security. The aim is to shift employers' focus towards people-centric practices, minimizing paperwork and fostering a transformative shift in employee engagement.
This addition supplements ReadyTech's core payroll SaaS platforms, including HR3, Aussiepay, and ePayroll. ReadyTech's customers gain the capability to seamlessly integrate Flare HR's products, offering an end-to-end employee management experience tailored for the evolving demands of the future workplace.
ReadyTech Cloud Platform (PaaS) and Infrastructure (IaaS) Details
Subscribe to read more about:
- ReadyTech Public Cloud and Infrastructure (IaaS)
- ReadyTech Platform (PaaS)
- ReadyTech Application Delivery
- ReadyTech 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
