CSIMarket
 
Paylocity Holding Corporation  (PCTY)
Other Ticker:  
 
    Sector  Technology    Industry Software & Programming
   Industry Software & Programming
   Sector  Technology

Paylocity Holding Corporation

Business Description


We are a cloud-based provider of payroll and human capital management, or HCM, software solutions for medium-sized organizations, which we define as those having between 20 and 1,000 employees. Our comprehensive and easy-to-use solutions enable our clients to manage their workforces more effectively. Our solutions help drive strategic human capital decision-making and improve employee engagement by enhancing the human resource, payroll and finance capabilities of our clients.

Our multi-tenant software platform is highly configurable and includes a unified suite of payroll and HCM applications, such as time and labor tracking, benefits and talent management. Our solutions have been organically developed from our core payroll solution, which we believe is the most critical system of record for medium-sized organizations and an essential gateway to other HCM functionality. Our payroll and HCM applications use a unified database and provide robust on-demand reporting and analytics. Our platform provides intuitive self-service functionality for employees and managers combined with seamless integration across all our solutions. We supplement our comprehensive software platform with an integrated implementation and client service organization, all of which are designed to meet the needs of medium-sized organizations.

Effective management of human capital is a core function in all organizations and requires a significant commitment of resources. Organizations are faced with complex and ever-changing requirements, including diverse federal, state and local regulations across multiple jurisdictions. In addition, the workplace operating environment is rapidly changing as employees increasingly become mobile, work remotely and expect an end user experience similar to that of consumer-oriented Internet applications. Medium-sized organizations operating without the infrastructure, expertise or personnel of larger enterprises are uniquely pressured in this complex and dynamic environment. Existing solutions offered by third-party payroll service providers can have limited capabilities and configurability while enterprise-focused software vendors can be expensive and time-consuming to implement and manage. We believe that medium-sized organizations are better served by solutions designed to meet their unique needs.

Our solutions provide the following key benefits to our clients:

Comprehensive cloud-based platform optimized to meet the payroll and HCM needs of medium-sized organizations;

Modern, intuitive user experience and self-service capabilities that significantly increase employee engagement;

Flexible and configurable platform that aligns with business processes and centralizes payroll and HCM data;

Software as a service, or SaaS, delivery model that reduces total cost of ownership for our clients; and

Seamless data integration with our extensive partner ecosystem that saves time and expense and reduces the risk of errors.

We market and sell our products primarily through our direct sales force. We generate sales leads through a variety of focused marketing initiatives and from our extensive referral network of 401(k) advisors, benefits administrators, insurance brokers, third-party administrators and HR consultants. We derive revenue from a client based on the solutions purchased by the client, the number of client employees and the amount, type and timing of services provided with respect to those client employees.

The tax and regulatory environment in the United States is complex and dynamic. Organizations are subject to a myriad of tax, benefit, workers compensation, healthcare and other rules, regulations and reporting obligations. In addition to U.S. federal taxing and regulatory authorities, there are more than 10,000 state and local tax codes in the United States. Further, federal, state and local government agencies continually enact and amend the rules, regulations and reporting requirements with which organizations must comply.

Growing Demand for Mobility and Enhanced User Experience

Connectivity and mobility are enabling employees to spend less time in traditional office environments and more time working remotely. This trend increases the demand for advanced and intuitive solutions that improve collaboration and foster employee engagement, such as remote self-service access to payroll and timesheet reporting, HR and benefits portals and other talent management applications. Given the prominence of consumer-oriented Internet applications, employees expect the user experience and accessibility of internal systems to be similar to those of the latest Internet applications, such as LinkedIn, Amazon and Facebook.

Medium-Sized Organizations Face Unique Challenges

Medium-sized organizations functioning without the infrastructure, expertise or personnel of larger enterprises are uniquely pressured in the current complex and dynamic environment. Employees in these medium-sized organizations often perform multiple job functions, and many medium-sized organizations have limited financial, technical and other resources needed to effectively manage their critical business requirements and to build and maintain the systems required to do so.

Large Market Opportunity for Payroll and HCM Solutions

According to market analyses published by International Data Corporation, or IDC, titled Worldwide and U.S. Human Capital Management Applications 2015-2019 Forecast (June 2015) and U.S. Payroll Outsourcing Services Forecast, 2015-2019 (November 2015), the U.S. market for HCM applications and payroll outsourcing services is estimated to be $26 billion in 2017. The market opportunity is driven by the importance of payroll and HCM solutions to the successful management of organizations.

To estimate our addressable market, we focus our analysis on the number of U.S. medium-sized organizations and the number of their employees. According to the U.S. Census Bureau, there were over 610,000 firms with 20 to 999 employees in the U.S. in 2014, employing over 43 million persons. We estimate that if clients were to buy our entire suite of existing solutions at list prices, they would spend approximately $285 per employee annually. Based on this analysis, we believe our current target addressable market is approximately $12 billion. Our existing clients do not typically buy our entire suite of solutions, and as we continue to expand our product offerings, we believe that we have an opportunity to increase the amount clients spend on payroll and HCM solutions per employee and to expand our addressable market.




View Company Supplier View Company Competition View Company Customers
             
Economy


Advance Monthly Sales

Consumer Price Index CPI

Producer Price Index PPI

Retail Inventories

Personal Income

Gross Domestic Product GDP

Money Supply

Industrial Production

Productivity

Employment Situation

US International Trade

Factory Orders

Durable Goods

Construction Spending

Housing Starts

Vehicle Unit Sales

Stocks


Event Calendar

GWGH's Profile

Stock Price

GWGH's Financials

Business Description

Fundamentals

Charts & Quotes

GWGH's News

Suppliers

GWGH's Competitors

Customers & Markets

Economic Indicators

GWGH's Growth

Company Segments

Screening


Stock Performance

Growth Rates

Profitability

Valuation

Dividend

Financial Strength

Efficiency

Largest Companies

Management Effectivness

Industries


At a Glance

Performance

Growth Rates

Profitability

Valuation

Financial Strength

Markets


At a Glance

Stocks

Indices

Sectors & Industries

Financials

Commodities

Currencies

News


At a Glance

Stocks

Economy

Industries

Other

Help


Sitemap

Advertise

About us

Glossary


Financial Terms

Technical Analysis

Fundamental Analysis

Energy Terms

Manufacturing Terms

Transportation Terms

Health Care

Insurance Terms

Economy Terms

Hotel & Leisure Terms

CSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings, Economy, News and Research.  Free Stock Market News Feeds
   Copyright © 2020 CSIMarket, Inc. All rights reserved. This site uses cookies to make your browsing experince better. By using this site, you agree to the Terms of Service and Privacy Policy - UPDATED (Read about our Privacy Policy)

To view Intraday Stock Data Java must be installed. Java content may be prohibited by the security software, to see the stock quotes, choose "allow content from this page" option. Intraday data delayed per exchange requirements. All quotes are in local exchange time. Intraday data delayed 15 minutes for Nasdaq, and other exchanges. Fundamental and financial data for Stocks, Sector, Industry, and Economic Indicators provided by CSIMarket.com
CSIMarket.com 1500 N. University Drive, Coral Springs, FL 33071