DENVER--(BUSINESS WIRE)--HRSoft, the leading provider of compensation management and total rewards software, announces a remarkable achievement in 2024, showcasing record-breaking growth and innovation. This outstanding performance underscores HRSoft's commitment to delivering top-tier solutions that empower organizations to optimize their compensation strategies and enhance employee engagement.
Recent HRSoft Highlights:
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Record Q2 Growth - In Q2 2024, HRSoft experienced an unprecedented surge in demand for its cutting-edge solutions, resulting in a 58% year-over-year increase in revenue. This growth was fueled by an expanding client base, increased adoption of HRSoft’s comprehensive suite of compensation and rewards management products including its latest product Long Term Incentive (LTI) Management, and an unwavering focus on customer success. The company's continued investment in technology and talent has reinforced its position as a trusted partner for organizations looking to transform their compensation processes.
The growth included a steady increase in HRSoft’s global presence, expanding their stronghold outside North America. Of all new business, 54% was either headquartered outside the US or Canada and/or had complex global requirements that their HRIS or other compensation system could not handle.
HRSoft's CEO, Joe Poxson, commented on the achievement, "Our record growth in Q2 is a testament to the dedication of our team and the trust our clients place in us. We are committed to innovating and providing exceptional value to our customers as they navigate the evolving landscape of compensation management."
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Inclusion in the Inc. 5000 List - HRSoft has been recognized in the prestigious Inc. 5000 list of America's fastest-growing private companies for 2024. This accolade highlights HRSoft's sustained growth and dedication to excellence in the competitive HR technology sector. Being included in the Inc. 5000 is a significant milestone that validates the company's efforts to drive innovation and deliver unparalleled solutions to its clients.
The Inc. 5000 list provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. The 2024 list represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges.
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Named to Constellation ShortList™ - In another significant achievement, HRSoft has been named to the Constellation ShortList™ for Compensation Management in Q3 2024 for the 5th consecutive year. Constellation Research advises leaders on leveraging disruptive technologies to achieve business model transformation and streamline business processes. Products and services named to the Constellation ShortList meet the threshold criteria for this category as determined through client inquiries, partner conversations, customer references, vendor selection projects, market share, and internal research. The portfolio is updated at least once per year as the analyst team deems necessary based on market conditions.
“As buyers look to find cost savings amidst an era of exponential efficiency, Constellation’s ShortLists, help separate the signal from the marketing noise,” said R “Ray” Wang, CEO and founder at Constellation Research. “Our analysts have taken the time to look at vendors who are delivering on value as well as the pace of innovation that our clients expect.”
As HRSoft continues to lead the way in compensation management and total rewards solutions, the company remains focused on expanding its offerings and enhancing its platform to meet the evolving needs of organizations worldwide. With a relentless pursuit of excellence, HRSoft is poised for continued growth and success in the coming quarters.
For more information about HRSoft and its award-winning solutions, please visit www.hrsoft.com.
About HRSoft
HRSoft is the pioneering force in compensation lifecycle management software, offering an unmatched portfolio of compensation-focused solutions designed to simplify and optimize intricate compensation management. With a steadfast commitment to innovation, HRSoft empowers organizations to leverage advanced technologies that drive performance and enhance their competitive advantage. Learn more at www.hrsoft.com or follow the Company on LinkedIn.
