Fueled by Customer Growth, PrismHR Announces Record 2016 Results
HR service providers using PrismHR grew by 31% on average in 2016
SOUTHBOROUGH, MA – January 6, 2017 – PrismHR, the leading provider of HR software for human resource outsourcing (HRO) service providers, including professional employer organizations (PEOs) and administrative service organizations (ASOs), announced that service providers that use PrismHR increased their worksite employee counts by an average of 31% in 2016. These results in turn, led to PrismHR increasing revenue growth by 59% from 2015 to 2016.
PrismHR recently surveyed HR service providers regarding industry trends and asked participants to share their changes in worksite employees in 2016. With more than 360 industry professionals responding, service providers using the PrismHR platform reported the highest 2016 growth rate of any software platform that serves PEOs and ASOs.
This worksite employee growth rate was a key factor in helping PrismHR increase revenue by 59% compared to 2015. In 2016, the company invested significantly in additional team members in engineering, operations and services as well as technical infrastructure to continually improve processes and customer experience. PrismHR’s growth was also fostered by new service providers joining the PrismHR family, as well as the adoption of new offerings including PrismHR Time and Labor and PrismHR Training.
“First, we’d like to congratulate the entire PrismHR service provider community. This growth is extraordinary, and truly shows what the combination of innovative services from our clients and PrismHR technology can do together,” said Gary Noke, President and CEO, PrismHR. “This collective achievement is a testament to the ongoing hard work of everyone on the PrismHR team and our customers. We continue to stay focused on delivering world-class software and services to help PEOs, ASOs and other service providers grow in 2017 and beyond.”
PrismHR creates exceptional software and services, empowering human resource outsourcing service providers such as Professional Employer Organizations (PEOs) and Administrative Service Organizations (ASOs) to deliver world-class HR, benefits and payroll to small and medium sized businesses. PrismHR powers more than 80,000 organizations, delivering payroll, benefits and HR to greater than 2 million worksite employees and processing greater than $55 billion in payroll each year. For more information, visit www.prismhr.com.
Jonathan Wall, Vice President, Marketing
508.747.7261 x 285