The Ultimate Software Group isn't timid about the benefits of its workforce management products. Businesses use its cloud-based UltiPro software suite to manage hiring, human resources compliance, benefits enrollment, payroll, appraisals, and time and attendance. Primarily serving clients in the US, the company offers UltiPro Enterprise for businesses with more than 1,000 employees and UltiPro Workplace for those with fewer than 1,000 employees. It targets the communications, finance, health care, retail, technology, and transportation industries, among others.
Sales and Marketing
The company markets its software through direct sales teams organized by geographic region. It boasts more than 2,300 customers, including Adobe Systems, Major League Baseball, and The Container Store.
Ultimate Software has enjoyed a decade of consistent growth. In 2011 it reported revenue of $269 million, up nearly 20% from 2010. Net income was also up, doubling to more than $4 million. A 25% rise in recurring sales (primarily the cloud-based offering) was more than enough to overcome a slight decrease in services revenue.
In the highly competitive market for human capital management software, Ultimate Software focuses on product enhancements (including add-ons) and customer satisfaction. The company spent more than $50 million on research and development in 2011, up more than 20% from the prior year. It also opened a new office in Santa Ana, California, to better serve its West Coast clients. Ultimate Software reports an annual customer retention rate of about 96%. – less