Paylocity Announces Acquisition of Trace
01 12월 2023 - 11:00PM
Paylocity (NASDAQ: PCTY), a leading provider of cloud-based HR and
payroll software solutions, today announced the acquisition of
TraceHQ.com, Inc. (“Trace”), an innovative solution for headcount
planning, which helps organizations plan and manage their most
important investment – their people. Trace enables organizations to
analyze and manage headcount plans, forecast budget relative to
those plans, and approve downstream headcount changes.
Managing headcount more strategically has taken on new urgency
in the face of changing workforce dynamics. Yet, most headcount
planning still tends to happen through manual planning cycles that
are siloed within departments, disconnected from key business
systems, prone to human error, and lack process automation.
At the heart of Paylocity’s modern HCM platform is a single
employee system of record designed to support the entire employee
lifecycle, connecting crucial HR data to other business solutions
and services. Trace’s headcount planning capabilities will add to
Paylocity’s already powerful set of integrations and workflow tools
to power mission-critical business processes, leading to better
decision making and faster execution.
“No matter what size organization I’m talking to, CFOs are
sharing their need for a more nimble and intelligent solution for
analyzing, approving, and implementing company-wide headcount
plans,” said Steve Beauchamp, Co-CEO of Paylocity. “By combining
our award-winning suite of HR products with market-leading
headcount planning capabilities from Trace, we will be enabling our
clients to make and implement headcount decisions in real
time.”
“We built Trace to help organizations manage their most
important investment—their people,” said Mike Gonzalez, CEO of
Trace. “And we are excited to continue that mission with Paylocity,
given its reputation for solving business challenges with
innovative technology. Together we can better enable businesses to
optimize headcount planning as part of their overall HCM
strategy.”
Paylocity does not expect the acquisition of Trace and addition
of its seven employees to have a material impact to second quarter
and fiscal 2024 financial results. Paylocity will update financial
guidance in the normal course of business in its second quarter
fiscal 2024 earnings release.
About PaylocityHeadquartered
in Schaumburg, IL, Paylocity (NASDAQ: PCTY) is an
award-winning provider of cloud-based HR and payroll software
solutions. Founded in 1997 and publicly traded since
2014, Paylocity offers an intuitive, easy-to-use product
suite that helps businesses automate and streamline HR and payroll
processes, attract, and retain talent, and build culture and
connection with their employees. Known for its unique culture and
consistently recognized as one of the best places to
work, Paylocity accompanies its clients on the journey to
create great workplaces and help all employees achieve their best.
For more information, visit www.paylocity.com.
CONTACT: Nicole Andergardnandergard@paylocity.com
503-866-0783
Paylocity (NASDAQ:PCTY)
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Paylocity (NASDAQ:PCTY)
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