Company type | Private |
---|---|
Industry | SaaS HCM Software |
Founded | 1990[1] |
Founder | Scott Scherr |
Defunct | April 1, 2020 |
Fate | Merged with Kronos Incorporated |
Successor | Ultimate Kronos Group |
Headquarters | Weston, Florida |
Area served |
|
Key people | Aron Ain (CEO) |
Products |
|
Services |
|
Revenue | $940.1 million (2017) [2] |
Owner | Hellman & Friedman |
Number of employees | 5,144 (2019) |
Website | www |
Ultimate Software was an American multinational technology company that developed and sold UltiPro, a cloud-based human capital management (HCM) software system for businesses. Headquartered in Weston, Florida, the company was founded in 1990 by Scott Scherr, and it released its first version of software in 1993. As of the fourth quarter in 2017, Ultimate Software reported total revenues of over $940.7 million. [3] As of 2017, the company employs more than 5,000 people and services 4,100 customers in 160 countries. [4] Ultimate had offices around the U.S., Canada, UK, and Singapore. [5] On February 4, 2019, Hellman & Friedman Capital Partners announced it would purchase Ultimate Software Group for $11 billion; [6] the purchase closed on May 3, 2019.
In February 2020, Ultimate Software announced its plan to merge with Kronos Incorporated to form a cloud-computing venture specializing in human resource software. The merger was completed on April 1, 2020. The company is named Ultimate Kronos Group. [7] [8]
Ultimate Software was founded in 1990 by Scott Scherr. In 1993, the tech company released UltiPro HRMS/payroll sold as on-premise software servicing core HR and payroll. [9] The company went public (NASDAQ: ULTI) in June 1998. [10]
In 2002, UltiPro was reintroduced as a cloud-based model to provide a unified management tool for human resources. [11] This model allowed the company to hold more than 33 million client records in the cloud and provide services to more than 3,400 customers, according to Career Builder. The company expanded outside of the United States and opened an office in London, England. Later that year, Ultimate announced additional expansion in Singapore. [12]
The company's UltiPro is a cloud-based platform that delivers human capital management to organizations across all industries. UltiPro provides one system of record for HR, payroll, and talent management. According to TrustRadius, UltiPro includes time and attendance, employee onboarding, performance management, compensation management, succession management, recruiting, and other features like predictive analytics. [13]
Paychex, Inc. is an American company that provides human resources, payroll, and employee benefits outsourcing services for small- to medium-sized businesses. Founded in 1971 and headquartered in Rochester, New York, the company has more than 100 offices serving approximately 740,000 payroll clients in the U.S. and Europe. Paychex is ranked 681st on the Fortune 500 list of largest corporations by revenue.
Ramco Systems Limited is an Indian multinational enterprise software product & platform provider. Founded in 1997, it is a part of the Ramco Group, and is headquartered in Chennai, Tamil Nadu, India.
Dayforce, Inc., formerly Ceridian, is a provider of human resources software and services with employees across its global footprint in the United States, Canada, Europe, Middle East,Latinamerica, Africa (EMEA), and the Asia Pacific Japan (APJ) region. It is a publicly traded company on the New York Stock Exchange and Toronto Stock Exchange.
Visma (acronym for Visual management) is a privately held company headquartered in Oslo, Norway, that provides cloud accounting, payroll, invoicing, and HR business software products. The majority of the company is owned by HgCapital, a private equity firm.
Workday, Inc., is an American on‑demand (cloud-based) financial management, human capital management, and student information system software vendor. Workday was founded by David Duffield, founder and former CEO of ERP company PeopleSoft, along with former PeopleSoft chief strategist Aneel Bhusri, following Oracle's acquisition of PeopleSoft in 2005.
Kronos Incorporated was an American multinational workforce management and human capital management cloud provider headquartered in Lowell, Massachusetts, United States, which employed more than 6,000 people worldwide.
NetSuite Inc. is an American cloud-based enterprise software company that provides products and services tailored for small and medium-sized businesses (SMBs) including accounting and financial management, customer relationship management (CRM), inventory management, human capital management, payroll, procurement, project management and e-commerce software. NetSuite was founded in 1998 with headquarters in Austin, Texas. The company is widely seen as the first cloud computing software company, with its founding pre-dating that of Salesforce by about a month.
GoTo Technologies USA, Inc., formerly LogMeIn Inc., is a flexible-work provider of software as a service (SaaS) and cloud-based remote work tools for collaboration and IT management. The company was founded in 2003, and is based in Boston, Massachusetts. On February 2, 2022 the company was rebranded from LogMeIn to GoTo.
Hellman & Friedman LLC (H&F) is an American private equity firm, founded in 1984 by Warren Hellman and Tully Friedman, that makes investments primarily through leveraged buyouts as well as growth capital investments. H&F has focused its efforts on several core target industries including media, financial services, professional services and information services. The firm tends to avoid asset intensive or other industrial businesses. H&F is based in San Francisco, with offices in New York and London.
A talent management system (TMS) is an integrated software suite that addresses the "four pillars" of talent management: recruitment; performance management; learning and development; and compensation management.
CyberArk Software Ltd. is an Israeli publicly traded information security company offering identity management. The company's technology is utilized primarily in the financial services, energy, retail, healthcare and government markets. CyberArk is headquartered in Petach-Tikva. The company also has offices throughout the Americas, EMEA, Asia Pacific and Japan.
TriNet Group, Inc. is a Dublin, California-based professional employer organization for small and medium-sized businesses. TriNet administers payroll and health benefits and advises clients on employment law compliance and risk reduction, acting in some cases as an outsourced human resources department. TriNet is headquartered in. TriNet partners with organizations between 3 and 2,500 employees.
UKG is an American multinational technology company with dual headquarters in Lowell, Massachusetts, and Weston, Florida. It provides workforce management and human resource management services.
Paycom Software, Inc., known simply as Paycom, is an American online payroll and human resource software provider based in Oklahoma City, Oklahoma with offices throughout the United States. It is attributed with being one of the first fully online payroll providers. It has been recognized by Fortune and Forbes as one of the fastest-growing publicly traded companies in the world, and as one of the World's Most Innovative Enterprise Companies by Fast Company in 2022. Founded in 1998, it reported annual revenue of $1.375 billion for 2022, up from $1.06 billion for 2021.
Gusto, Inc. is a company that provides payroll, benefits, and human resource management software for businesses based in the United States. Gusto handles payments to employees and contractors and also handles paperwork necessary to help client companies comply with tax, labor, and immigration laws.
Cornerstone OnDemand, Inc. is a cloud-based development software provider and learning technology company. The company was publicly traded on the NASDAQ stock exchange under the ticker symbol Nasdaq: CSOD until it was acquired by private-equity firm Clearlake Capital in 2021. Cornerstone started as CyberU, which provided online corporate training and education for adults, but eventually shifted focus to human resources software.
A human resources management system (HRMS), also human resources information system (HRIS) or human capital management (HCM) system, is a form of human resources (HR) software that combines a number of systems and processes to ensure the easy management of human resources, business processes and data. Human resources software is used by businesses to combine a number of necessary HR functions, such as storing employee data, managing payroll, recruitment, benefits administration, time and attendance, employee performance management, and tracking competency and training records.
PeopleDoc was a cloud-based human resources service delivery and document management platform that was founded in France. In 2018, it was acquired by Ultimate Software for approximately $300 million. UKG, the successor company of Ultimate Software delivers former PeopleDoc technology as part of their suite of solutions.
Aron Ain is an American software technology executive and author. He became the CEO of UKG in 2020, a role he held until being named UKG Executive Chair, effective July 1, 2022. UKG was created from the merger of Ultimate Software and Kronos Incorporated, and provides global HCM and workforce management solutions. Previously, Ain had been the chief executive officer of Kronos Incorporated since 2005.
Kanjoya was an enterprise software-as-a-service (SaaS) company that developed natural language processing (NLP) based artificial intelligence to understand, measure, and improve customer and employee experience. Founded in 2006 by Armen Berjikly, the company was acquired by Ultimate Software in 2016.