Ultimate Software Among HCM Top 500

2000 Ultimate Way

Weston, FL, 33326, USA

1 800-432-1729



Ultimate Software Strengths, Domain Expertise, and Key Differentiators

For 2018 Ultimate's total revenues increased by approximately 21% over 2017, including the impact of the PeopleDoc acquisition.

In 2017, Ultimate Software, which has become one of the most popular Core HR and Payroll vendors in the Cloud, leveraged the advanced AI technology from the Kanjoya acquisition to become a leader in leveraging artificial intelligence optimize the employee experience in order to drive employee performance and engagement.

Since 2010 Ultimate Software has been touting its rock-solid performance in the Cloud applications market boasting consistent profitability year after year. By comparison, its peers have continued to rack up huge losses during the same period. What that underscores is Ultimate’s laser focus to drive HCM Cloud applications across its target markets – large and midsized companies with heavy emphasis on expense control. Between 2012 and 2016, Ultimate’s revenues more than doubled and its operating expenses were in lockstep, never veering off course in search of the next big thing.

Ultimate Software Recent Developments

In 2019, Ultimate expanded its global capabilities by more than doubling the number of country-specific localizations. Ultimate also introduced UltiGiving, a solution to help their customers create a culture of giving and raise their level of corporate social responsibility, positively impacting employees' happiness and retention.

In July 2018, Ultimate announced the acquisition of PeopleDoc, A cloud-based pioneer in global HR service delivery based in Paris, France, with additional offices in Germany, the UK, Finland, the Netherlands, Canada, and the United States. PeopleDoc has more than 1,000 customers with users in 180 countries. Adding its global HR Service Delivery platform to Ultimate's offerings will further its mission to enhance its customers’ employee experience with new, person-centric features, such as an online employee help center, HR case management, and employee file management.

In 2017, Ultimate introduced Xander, Ultimate's people-first artificial intelligence (AI) platform that leverages Natural Language Processing (NLP) and advanced machine learning technology that can analyze both structured data elements along with employee sentiment in real-time and deliver insight to intelligently understand, predict, and act on workforce data. Ultimate launched UltiPro Perception based on technology acquired through the Kayjoya acquisition, leveraging Xander to help companies collect, understand, and act on employee feedback.

Ultimate announced Leadership Actions prescriptive analytics fueled by Xander, thereby cementing Xander as UltiPro's platform for AI-powered solutions and analytics. These solutions underscore Ultimate’s commitment to optimizing the employee experience in order to drive employee performance and engagement. In 2017, Ultimate also introduced UltiPro Workforce Management as well as UltiPro Connect, Ultimate’s all-new centralized integration hub designed to simplify and standardize integrations to UltiPro with includes a marketplace.

Ultimate Software Mergers and acquisitions (M&A) Activities

In May 2019, Ultimate completed the agreement to be acquired by an Investor Group Led by Hellman & Friedman, a private equity investment firm. The acquisition was previously announced in February, and closed and became effective in May. Ultimate continued to operate under the leadership of CEO Scott Scherr and the existing senior management team, while owned by an investor group led by Hellman & Friedman in partnership with significant investors Blackstone, GIC, and Canada Pension Plan Investment Board (CPPIB), and other investors including JMI Equity.

In mid-July 2018, Ultimate Software acquired the Paris-based HR service delivery provider PeopleDoc for about $300 million in cash and stock.

Ultimate Software Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Ultimate Software 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 Ultimate Software 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 UltiPro Compensation Management, UltiPro Core HR and Payroll, UltiPro Talent Acquisition, UltiPro Talent Management, UltiPro Time Management, customers.

Ultimate Software Key Cloud and HCM Applications

UltiPro Compensation Management, UltiPro Core HR and Payroll, UltiPro Talent Acquisition, UltiPro Talent Management, UltiPro Time Management,

Ultimate Software HCM and Cloud HCM Applications Revenues, $M:

Type/Year20172018YoY Growth, %
Total Revenues, $M Subscribe Subscribe Subscribe
HCM Applications Revenues, $M Subscribe Subscribe Subscribe
Cloud 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.

Ultimate Software Revenue Breakdown by Type:

TypeLicenseServicesHardwareSupport & MaintenanceSaaS
% of Total Revenues Subscribe Subscribe Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe Subscribe Subscribe

Ultimate Software Total and HCM Applications Revenues by Region:

Region% of Total Revenues2018 Total Revenues, $M2018 HCM Applications Revenues, $M
Americas Subscribe Subscribe Subscribe
EMEA Subscribe Subscribe Subscribe
APAC Subscribe Subscribe Subscribe
Total Subscribe Subscribe Subscribe

Ultimate Software Direct vs Indirect sales

RegionDirect SalesIndirect SalesTotal
Type % Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe

Ultimate Software Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Ultimate Software Customers

No. of Ultimate Software Customers: 6600

No. of Ultimate Software HCM Applications Customers: 6600

No. of Ultimate Software Cloud HCM Customers: 6600

No. of Ultimate Software Cloud HCM Subscribers: 51000000

Ultimate provides solutions to more than 6,600 companies worldwide, with ~51 million people records in the cloud, including the customers and people records Ultimate added with the PeopleDoc acquisition. Ultimate's customers represent a wide variety of industries, including manufacturing, food services, sports, technology, finance, insurance, retail, real estate, transportation, communications, healthcare, and other services.

Recent customer wins included Pekin Insurance, Miami Dolphins, Earls Kitchen + Bar, Phoenix Suns, Pharmaca, Islands Restaurants, Mid-Atlantic Health Care, Zumba Fitness Inc, Armacell, Amy’s Kitchen, West Fraser Mills, AmeriPride Services, Aramark, Legal Sea Foods, Dycom Industries, Shake Shack, Amy’s Kitchen, Care Core National, Soulcycle, Morgans Hotel Group and many others.

Some of Ultimate Software live customers are: Adobe Systems, Bloomin’ Brands, Chicago Cubs, Cineplex, Concord Hospitality, Culligan International, First American, Lincoln Financial, Major League Baseball, Nikon, Pep Boys, P.F. Chang’s, Safelite, Sony Online Entertainment, SUBWAY, Texas Roadhouse, Trek Bicycles, Volvo, and Yamaha Corporation of America.

Ultimate Software Market Opportunities, M&A and Geo Expansions

In 2017, Ultimate introduced two solutions (UltiPro Perception and Leadership Action) leveraging Xander, Ultimate's artificial intelligence (AI) platform that leverages Natural Language Processing (NLP) and advanced machine learning technology, to analyze emotions as well as statistics when reporting on employee data for employers. Ultimate has the opportunity to leverage industry-leading Xander AI technology across the UltiPro HCM suite to deliver real-time insight to proactively develop, coach, and engage their teams.

Ultimate Software Risks and Challenges

Following the release of its first-half 2017 earnings, Ultimate adjusted its financial guidance to reflect delayed revenue recognition of larger customer deals. Ultimate gave a cautious outlook suggesting that a certain amount of risk-averse sentiments among its prospects and existing customers could stall its growth. While the target market of Ultimate remains healthy, some pockets such as retail and hospitality may see increased headwinds amidst eCommerce pressures, rising labor costs, and decelerating consumer spending.

Another risk facing Ultimate is its dependency on US-based companies even though its software is capable of supporting their operations outside the country. In order to sustain its growth beyond the $1-billion milestone, Ultimate is well suited to expand its acquisition and/or business development strategies in order to penetrate certain countries and regions that previously might have been overlooked.

Ultimate Software Ecosystem, Partners, Resellers and SI

Ultimate Software primarily sells direct, but initiatives to expand their consulting and advisory partner ecosystem has resulted in a 23% growth in certified advisory partners in 2016. It maintains alliances with key technology partners including Microsoft for its Net platform and IBM for its Cognos Business Intelligence products. It also maintains strong ties with EMC and VMWare for virtualization and Juniper and F5 for high-performance networks. In addition, Ultimate’s technology ecosystem relies on other Open Source technologies to provide flexibility and to deploy the appropriate technology based on application needs.

In September 2018 Ultimate Software has formed a strategic alliance with Deloitte Canada, one of Canada’s leading professional services firms. This collaboration will enable enterprise companies throughout North America to optimize UltiPro through Deloitte’s business transformation and technology services and capabilities.

Ultimate Software Cloud Platform (PaaS) and Infrastructure (IaaS) Details

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  • Ultimate Software Public Cloud and Infrastructure (IaaS)
  • Ultimate Software Platform (PaaS)
  • Ultimate Software Application Delivery
  • Ultimate Software 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:

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