TriNet Strengths, Domain Expertise, and Key Differentiators
TriNet Group is a provider of a comprehensive human resources solution for small to medium-sized businesses. It offers payroll, tax administration, risk protection, performance management, compensation consulting, and employee benefit plans. The Company serves banking and financial services, biotech and life sciences, technology, non-profits, professional services, venture capital, and the advertising and marketing industries.
TriNet Recent Developments
TriNet announced enhancements to the TriNet Mobile app. As the majority of employees are currently not in the office, the TriNet Mobile app aims to tackle the reality of the modern-day workforce through the delivery of advanced tools aimed at helping SMBs conduct daily responsibilities at any time, from anywhere.
In February 2021, TriNet launched Connect 360, an innovative HR service model to meet its customers’ needs in today’s everchanging and evolving business environment. Connect 360 was created and implemented in response to feedback from TriNet customers, industry data and deep research. The result is a strategic business component designed to give TriNet’s SMB customers direct and rapid access to specialized HR experts, 24/7 chat and personalized account management so they can better manage HR matters with speed, confidence and knowledge.
In July 2019, TriNet released Workforce Analytics, an HR reporting and analytics tool designed to provide SMBs with in-depth reporting and forecasting using data drawn from a single system.
In 2018, TriNet introduced TriNet Professional Services, an industry-specific product designed to address the unique HR needs of professional services firms, such as consulting, advertising, and other expertise-driven industries.
TriNet Mergers and acquisitions (M&A) Activities
In February 2022, TriNet completed the acquisition of Zenefits. The acquisition expands TriNet's technology product offering and furthers its position as the leading human resources services provider for SMBs with or without the PEO structure.
In July 2020 TriNet acquired Little Bird HR, a market-leading provider of HR solutions for charter schools and other education-focused businesses. TriNet is focused on industries within six core verticals—and with Little Bird’s focus on schools, this is a great addition to their nonprofit team. HR solutions for schools are highly specialized and require an offering that simplifies HR and makes it easier for educators to focus on what they do best.
In April 2016, TriNet acquired Teleborder for immigration HR services for employers, especially in the areas of hiring, onboarding, and retention of talent from different countries.
TriNet Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying TriNet 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 TriNet 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 TriNet HR, customers.
TriNet Overview
Ownership: - NYSE: TNET
Number of Employees: 331000
Functional Market: Workforce Analytics, Payroll, Benefits Administration, Compliance, Applicant Tracking Systems, Learning and Development, Compensation,
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, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
TriNet Key Cloud and HCM Applications
TriNet HR,
TriNet HCM and Cloud HCM Applications Revenues, $M:
Type/Year | 2022 | 2023 | YoY Growth, % |
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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.
TriNet Revenue Breakdown by Type:
TriNet 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 | |
TriNet HCM Applications Revenues By Verticals, $M:
TriNet Total and HCM Applications Revenues by Region:
Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
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Americas | Subscribe | Subscribe | Subscribe |
EMEA | Subscribe | Subscribe | Subscribe |
APAC | Subscribe | Subscribe | Subscribe |
Total | Subscribe | Subscribe | Subscribe |
TriNet Direct vs Indirect sales
Region | Direct Sales | Indirect Sales | Total |
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Type % | Subscribe | Subscribe | Subscribe |
Revenues, $M | Subscribe | Subscribe | Subscribe |
TriNet Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified TriNet Customers
No. of TriNet Customers: 23000
No. of TriNet HCM Applications Customers: x
No. of TriNet Cloud HCM Customers: x
No. of TriNet Cloud HCM Subscribers: x
The company serves more than 23,000 clients in 50 states, and it covers about 331,000 of its client's employees, which they refer to as worksite employees or WSEs. Among customers are Docker, GlobalLogic, Soimera Biosystems, GenoLogics, NEXT Financial Group, Jacksboro National Bank, United Community Bank of Highland Village, ILCHF, Families International, The Shea Center, Hooah, EDL Consulting, Boston Merchant Management Services, FEI Behavioral Health and many other.
TriNet Market Opportunities, M&A and Geo Expansions
TriNet invested in its technology platform to provide users with improved functionality, including online and mobile productivity tools, and to allow platform users to integrate more effectively with third-party software applications.
In February 2017, an entity affiliated with Atairos Group, Inc. (together with its affiliates, “Atairos”) became the largest stockholder when it acquired the shares of TriNet common stock previously held by General Atlantic.
TriNet Risks and Challenges
TriNet faces significant challenges, particularly with its small and medium-sized business clients, due to the inherent volatility in the economic environment. In times of economic downturns, such as weak economic conditions, small businesses are more prone to failure, leading to a reduction in employment levels. This directly impacts TriNet's revenue and margins, as its clients may respond to economic uncertainties by freezing hiring, terminating employees, and cutting compensation and benefits. If TriNet is unable to swiftly and effectively reduce its operating expenses, it may face negative consequences.
TriNet spent only 1% of its total revenues on Cloud development efforts. TriNet will encounter stiff competition from Cloud HR vendors that thrive on faster product release cycles that cater to evolving HCM needs. The passage of the TCJA in December 2017, may create unexpected challenges or business incentives for TriNet Group, Inc. clients and fail to translate into increased demand for TriNet Group, Inc. services. In 2018, TriNet shifted direction and its go-to-market strategy by hiring technology veterans such as Michael Mendenhall as CMO and Olivier Kohler as COO.
TriNet Ecosystem, Partners, Resellers and SI
In October 2023, TriNet Introduces New Personalized Benefits Experience Through Collaboration with Healthee, an industry leader in AI-powered digital solutions that enhance the health and wellness experience. This partnership puts technology directly into the hands of employees, allowing for a better and more informed experience. Additional features including an AI-powered personal health assistant are planned to be available in 2024.
TriNet Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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- TriNet Public Cloud and Infrastructure (IaaS)
- TriNet Platform (PaaS)
- TriNet Application Delivery
- TriNet 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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