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About Asure Software Inc.
Asure Software Inc. (NASDAQ: ASUR) is a leading provider of cloud-based Human Capital Management (HCM) software solutions, strategically designed to empower small and mid-sized businesses (SMBs) to optimize their workforce management processes. With a comprehensive suite of SaaS-based tools, Asure enables organizations to simplify complex HR tasks, streamline payroll and tax compliance, and enhance overall operational efficiency. The company's mission is to help SMBs allocate their resources—time, money, and technology—toward sustainable growth.
Core Offerings and Business Model
Asure's HCM suite, branded as AsureHCM, includes a range of integrated solutions tailored to meet the unique needs of SMBs:
- Payroll and Tax Management: Comprehensive payroll processing and tax compliance tools that ensure accuracy and adherence to ever-changing regulations.
- HR Solutions: Services ranging from HR consulting to outsourced payroll, designed to address both strategic and administrative HR needs.
- Time and Attendance Management: Tools to track employee hours, manage schedules, and improve workforce productivity.
- Benefits Administration: Streamlined solutions for managing employee benefits, including enrollment and compliance.
- Talent Management: Applicant tracking and recruitment tools, enhanced by AI-driven capabilities, to attract and retain top talent.
These solutions are delivered through a recurring revenue model, primarily via subscriptions, ensuring long-term client relationships and consistent revenue streams. The company's focus on SMBs positions it uniquely in the HCM market, offering enterprise-grade solutions tailored to the specific challenges of smaller organizations.
Industry Context and Strategic Positioning
The HCM industry is undergoing a significant transformation, driven by digitalization, regulatory complexity, and the need for agile workforce management solutions. Asure operates within this dynamic landscape, addressing critical pain points for SMBs, such as compliance with payroll tax laws and efficient talent acquisition. The company's strategic initiatives include:
- Partnerships: Collaborations with industry leaders like SAP and AWS to enhance technological capabilities and streamline payroll tax processes.
- Acquisitions: Recent acquisitions, such as HireClick for applicant tracking and MyHRScreens for background screening, expand Asure's product suite and market reach.
- Innovation: Integration of AI and machine learning to improve HR compliance, optimize workflows, and deliver user-centric solutions.
These efforts position Asure as a trusted partner for SMBs, offering scalable solutions that adapt to the evolving demands of workforce management.
Competitive Landscape and Differentiators
Asure competes with both large-scale HCM providers and niche players in the SMB segment. Its differentiation lies in:
- Specialization in SMBs: Tailored solutions that address the unique challenges of smaller organizations.
- Expertise in Payroll Tax Management: A best-in-class tax platform that simplifies compliance for businesses of all sizes.
- Focus on Innovation: Leveraging AI and partnerships to deliver cutting-edge solutions that enhance efficiency and scalability.
By combining technological innovation with a deep understanding of SMB needs, Asure maintains a competitive edge in the HCM market.
Commitment to Client Success
Asure's client-centric approach is evident in its dedication to providing user-friendly, scalable solutions that prioritize customer interactions. The company's Asure Marketplace™ further enhances its value proposition by offering a curated selection of third-party solutions, enabling clients to access additional tools and services seamlessly.
Conclusion
Asure Software Inc. stands out as a pivotal player in the HCM industry, leveraging cloud-based technology to empower SMBs in managing their workforce effectively. Through its comprehensive product suite, strategic partnerships, and commitment to innovation, Asure continues to drive value for its clients while navigating the complexities of the modern workforce landscape.
Asure Software (Nasdaq: ASUR) will release its financial results for Q1 2023 after market close on May 8, 2023. A conference call will follow at 3:30 PM CT (4:30 PM ET), hosted by Chairman and CEO Pat Goepel and CFO John Pence, to discuss these results. Investors can join the call via a live webcast on the company’s Investor Relations page or listen by phone after pre-registration. Asure provides cloud-based Human Capital Management (HCM) solutions that assist small and mid-sized businesses with payroll, tax services, and HR management, allowing them to focus on growth instead of administrative overhead.
Asure Software (Nasdaq: ASUR), a leader in cloud-based Human Capital Management (HCM) software solutions, announced its participation in several upcoming financial conferences. These events include the Needham Annual Technology & Media Conference on May 16, 2023, and the Jefferies HCM Tech Summit on May 17, 2023, both held in New York. Additionally, Asure will be present at the B. Riley Institutional Investor Conference in Beverly Hills, CA, on May 25, 2023, and the Craig-Hallum Institutional Investor Conference in Minneapolis, MN, on May 31, 2023. The company will also attend the TD Cowen Technology, Media & Telecom Conference on May 31 and June 1, 2023, in New York. Asure offers a comprehensive HCM suite that aids small and mid-sized companies in compliance and operational efficiency.
Asure Software (Nasdaq: ASUR) has announced a strategic partnership with Harbor Compliance, aimed at enhancing compliance solutions for businesses navigating multi-state hiring and payroll tax registration. This collaboration provides Asure’s 100,000 clients with access to Harbor Compliance's intuitive technology, streamlining federal, state, and local registration processes. The move addresses challenges posed by remote work and out-of-state hiring, enabling efficient payroll processing. Both companies aim to reduce administrative burdens for small and mid-sized businesses, supporting their growth and compliance needs.
Asure Software (Nasdaq: ASUR) announced that it has no accounts or client funds with Silicon Valley Bank or Signature Bank, reaffirming its financial stability amid recent banking sector volatility. Asure is a provider of cloud-based Human Capital Management (HCM) software solutions aimed at supporting small and mid-sized companies. Their offerings include payroll, tax services, time and attendance software, and HR services, which help clients navigate complex labor laws and manage resources effectively. This announcement highlights Asure's commitment to transparency and client security in uncertain economic conditions.
AUSTIN, Texas, March 3, 2023 (GLOBE NEWSWIRE) -- Asure Software (Nasdaq: ASUR), a leader in cloud-based Human Capital Management (HCM) software solutions, has announced its participation in the 35th Annual Roth Conference from March 12-14, 2023. During this event, CEO Pat Goepel and President Eyal Goldstein will engage in 1-on-1 meetings, small group discussions, and presentations among approximately 400 participating companies. This platform aims to facilitate networking and investment opportunities within the growth sector.
For more details and registration, visit Asure Software's official page.
Asure Software reports a record fourth quarter revenue of $29.3 million, a 39% increase from the previous year, contributing to a full year revenue of $95.8 million, up 26%. Recurring revenue also saw a substantial rise, reaching $24.1 million in Q4. Despite a net loss of $1.1 million in Q4, this marks an improvement of $3.2 million year-over-year. The company has raised its financial targets for 2023, projecting revenue between $105 million and $107 million. Key integrations with ZayZoon and tax software firms enhance Asure's service offerings, aligning with market trends towards employee convenience.
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