Version Systems Strengths, Domain Expertise, and Key Differentiators
Version Systems specializes in retirement benefits and workforce management, with expertise in compliance and trust accounting. Their flagship platform, factoHR, integrates payroll, HR, attendance, performance management, and retirement benefits, while incorporating AI and ML for predictive analytics and personalized insights. The factoHR mobile app enables employees and managers to manage HR tasks and business expenses conveniently from anywhere.
Version Systems Recent Developments
Version Systems Pvt. Ltd. has recently enhanced its HR platform, factoHR, by integrating AI and ML features to improve HR processes. Key updates include an AI-powered chatbot, face recognition for attendance, and generative AI tools for content creation like job descriptions and interview questions. The company has also partnered with Microsoft and SAP, making factoHR available on the Microsoft Azure Marketplace and integrating it with SAP's platforms. Mobile app enhancements include geofencing, AI-driven attendance verification, and performance management tools. By September 2023, factoHR reached over 3,500 customers and 2.6 million users, showcasing its growing influence in the HR tech market.
Version Systems Mergers and acquisitions (M&A) Activities
No M&A activities in the last 12 months.
Version Systems Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Version Systems 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 Version Systems 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 factoHR customers.
Version Systems Overview
Ownership: - x
Number of Employees: 200
Functional Market: Absence Management, Time and Attendance, Core HR, Payroll, Benefits Administration, Pension Administration, Sourcing, Onboarding, Recruiting, Candidate Relationship Management $M, Applicant Tracking Systems, Performance Management, Learning and Development,
Key Verticals: Automotive, Banking and Financial Services, Construction and Real Estate, CPG, Distribution, Healthcare, Insurance, Leisure and Hospitality, Life Sciences, Manufacturing, Non Profit, Professional Services, Retail, Transportation,
Version Systems Key Cloud and HCM Applications
factoHR
Version Systems 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.
Version Systems Revenue Breakdown by Type:
Version Systems 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 | |
Version Systems HCM Applications Revenues By Verticals, $M:
Version Systems 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 |
Version Systems Direct vs Indirect sales
| Type | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Version Systems Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Version Systems Customers
No. of Version Systems Customers: 3500
No. of Version Systems HCM Applications Customers: 3500
No. of Version Systems Cloud HCM Customers: 3500
No. of Version Systems Cloud HCM Subscribers: 10 million
Version Systems serves over 1,500 SMEs and more than 10 million users, with notable clients including Tata, Hitachi, and Bosch. While most clients are based in India, the company is exploring opportunities in international markets to expand its reach.
Version Systems Market Opportunities, M&A and Geo Expansions
Version Systems has opportunities to expand horizontally by integrating with more enterprise systems to enhance its HR solutions. Vertical expansion into sectors like manufacturing, retail, education, and healthcare can provide industry-specific solutions. Geographic expansion into North America and Europe aligns with the growing demand for cloud-based HR solutions and offers growth potential.
Version Systems Risks and Challenges
Version Systems faces internal risks related to cybersecurity, as reliance on cloud infrastructure requires robust data protection measures. External competition from established HR software providers necessitates ongoing innovation to maintain market share. Additionally, adapting marketing strategies to diverse regional markets and clearly communicating the company’s unique value proposition remain key challenges.
Version Systems Ecosystem, Partners, Resellers and SI
Version Systems has built a strong ecosystem through strategic technology integrations and partnerships. Collaborations with system integrators and value-added resellers have expanded the reach and implementation of its solutions. The integration of factoHR with platforms like SAP reflects the company's focus on delivering scalable and secure HR solutions to meet the evolving needs of businesses.
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
