April 5, 2014
Cloud-based SaaS HR solutions went from a niche play to one of the most successful Tech categories for startups in the last 3-5 years. Most notable being the acquisition of SuccessFactors by SAP for ~$3.4B. Then there was Taleo bought by Oracle for $1.9 Billion and Workday going the IPO route. SaaS-based payroll service providers have grown in both numbers and size. With new providers popping up all the time, it can be difficult to spot the new stars that are bringing innovation to the industry. We have identified four such cloud-based payroll providers that are worth our attention, from the market leaders, down to the startup.
While Cloud-based SaaS models are typically considered a new phenomenon, CloudPay entered the scene back in 1996, known at the time as Patersons. Since then, the company has risen to become one of the leading players in the SaaS payroll model with the ability to provide payroll management and support in 160 countries by supporting 30 currencies and 26 languages.
In March 2014, CloudPay released figures showing a 40% year-ove ...