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PeopleStrategy- Next Generation HCM Technology 2021
Vendor Analysis
published on Jul 30, 2021
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Report Overview:
This NelsonHall assessment analyzes PeopleStrategy's offerings and capabilities in Next Generation HCM Technology
Who is this Report for:
NelsonHall’s HCM technology profile on PeopleStrategy is a comprehensive assessment of its offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of HCM technology platforms and identifying vendor suitability for RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the HR technology and services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of PeopleStrategy HCM Technology offering, capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location for key centers.
Key Findings & Highlights:
PeopleStrategy, founded in 2002, and headquartered in Edison, NJ, is a privately held provider of HCM technology and employee benefits administration services.
A series of acquisitions, including Integral Systems in 2006, led to the company's acquisition by its current investors in 2009; in the same year, it began developing an HR and payroll platform for small businesses, which was marketed and sold until 2013 as HROnline. The solution was initially sold through channel partners, primarily payroll service bureaus, banks, and brokers.
In 2011, PeopleStrategy began developing a proprietary HCM offering targeted to small and midsized firms, which led to its current solution, PeopleStrategy. The platform has been internally developed and in production since 2013 and includes functionality to support talent acquisition, core HR/HRIS, payroll, benefits administration, workforce management, and performance management.
In June 2017, PeopleStrategy acquired CheckPoint HR, extending its offering to include employee benefits and administrative services, marking its entry into the managed HR services space.
PeopleStrategy is a cloud-based platform built on a single database and delivered as a multi-tenant, SaaS solution and mobile-enabled through a responsive design. PeopleStrategy is comprised of the following modules:
- Talent acquisition
- Core HR
- Payroll
- Benefits
- Workforce Management
- Learning Management.
While PeopleStrategy can be leveraged as a standalone HCM offering, its modules are not offered on a standalone basis. Core HR is required to have other modules, and the workforce management module requires adopting payroll, but not all modules are required to be purchased. PeopleStrategy’s most leveraged modules include core HR, payroll, benefits, and workforce management.
PeopleStrategy exclusively targets U.S.-based small businesses for its technology and services. Historically those in the lower end of the middle market (<3.5k employees). However, with its acquisition of Checkpoint HR (2017), PeopleStrategy refocused on targeting SMB buyers with 50 to 500 employees for its technology suite and brokerage services. PeopleStrategy HCM supports ~140 small and midsized businesses and >120k client employees.