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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) has partnered with ZayZoon to introduce an on-demand pay solution aimed at enhancing financial wellness for employees while providing small and mid-sized businesses (SMBs) with a competitive edge in hiring and retention.
This collaboration will allow employees of Asure’s payroll clients to access their earned wages instantly, promoting better financial health. According to CEO Pat Goepel, this service aims to alleviate financial pressures on employees and is becoming essential in talent acquisition.
Asure (Nasdaq: ASUR) is set to release its fourth quarter and full year 2022 financial results on February 27, 2023, after market close. A conference call will follow at 3:30 pm CT to discuss these results, featuring key company executives, including Chairman and CEO Pat Goepel.
The company offers cloud-based Human Capital Management (HCM) software solutions aimed at small and mid-sized businesses, supporting over 80,000 clients. Asure's solutions include payroll, HR, and time and attendance services.
Asure Software has partnered with Intuit's TurboTax to enhance tax filing for its small business clients. This integration allows employees to import W-2 information directly, simplifying the filing process and reducing errors. By enabling electronic filing, tax refunds can be expedited, providing added benefits to employees amid a competitive job market. CEO Pat Goepel emphasized the initiative's goal to streamline HR and payroll processes, thereby attracting and retaining talent. Asure's advanced solutions aim to assist businesses in managing compliance and reducing back-office expenses.
Asure Software, Inc. (Nasdaq: ASUR) announced a new integration with H&R Block aimed at simplifying tax preparation for employees and small businesses. This collaboration allows employees to electronically access their W-2s from Asure into H&R Block's tax software, streamlining the tax process and minimizing manual input errors. The integration, available for all employees receiving W-2s from Asure's clients, enhances the competitive edge for small businesses in talent acquisition by demonstrating a commitment to employee convenience. CEO Pat Goepel emphasized the initiative as a significant advancement in leveraging technology for workforce management.
AUSTIN, Texas, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Asure Software (Nasdaq: ASUR) will participate in the 25th Annual Needham Growth Conference on January 12, 2023, virtually. Eyal Goldstein, President and Chief Revenue Officer, and John Pence, CFO, will present and hold one-on-one meetings with investors. Asure specializes in cloud-based Human Capital Management (HCM) solutions, providing services like Payroll and HR to small and mid-sized companies. For inquiries or to arrange meetings, contact Asure's investor relations team.
Asure Software reported Q3 2022 revenue of $21.9 million, a 22% increase year-over-year, but incurred a net loss of $4.5 million compared to net income of $5.3 million in Q3 2021. Adjusted EBITDA rose 71% to $2.1 million, with total bookings increasing by 91% year-over-year. Asure raised its Q4 revenue guidance to a growth range of 11% to 14% and provided preliminary 2023 revenue guidance of $98 to $102 million. The company is focusing on automation and enhancing HR compliance to drive future revenue growth.
Asure, a cloud-based Human Capital Management (HCM) software provider, announced the release of its financial results for Q3 2022, scheduled for November 7, 2022, after market close. The company will hold a conference call hosted by CEO Pat Goepel and CFO John Pence at 3:30 PM CT to discuss the results, followed by a Q&A session. Investors can access a live webcast on their Investor Relations page.
Asure supports over 80,000 small and mid-sized businesses with solutions including payroll, tax, HR, and compliance.
Asure Software and Equifax have announced a new integration that enables Asure's clients to access automated verification services from The Work Number. This integration aims to streamline employment and income verifications for small businesses, benefiting approximately 80,000 customers. Employers will save time by reducing manual verification requests, while employees can achieve faster access to critical services during life milestones. The integration is available at no cost to Asure clients and reflects a commitment to enhancing Human Capital Management (HCM) functionality.
Asure Software and Equifax have announced a new integration that allows Asure clients access to The Work Number, providing automated verifications for employment and income. This integration aims to benefit over 80,000 small businesses and their employees by streamlining the verification process, reducing manual efforts, and enhancing efficiency. With a database of 584 million employment records, The Work Number offers quick and secure verifications, essential for significant life events like mortgage applications. The service is available now at no extra cost to Asure clients.
Asure Software (Nasdaq: ASUR) has unveiled new proprietary technology aimed at automating back-office processes for CPAs and tax professionals dealing with the Employee Retention Tax Credit (ERTC). This innovation responds to increased demand for amended tax returns, streamlining the calculation of compliant tax credits for small businesses. CEO Pat Goepel emphasized that this technology will not only enhance operational efficiency for CPA partners but also drive organic growth for Asure. The solution builds on Asure’s existing FlexTax platform, which facilitates cloud-based payroll tax processing.
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