Sign In  |  Register  |  About Sunnyvale  |  Contact Us

Sunnyvale, CA
September 01, 2020 10:10am
7-Day Forecast | Traffic
  • Search Hotels in Sunnyvale

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Asure’s (NASDAQ: ASUR) Payroll Tax Engine Receives Boost From Workday and SAP Integrations, Opening Up New Avenues to Capitalize on the Underserved Enterprise Market

Payroll tax compliance is critical for businesses of all sizes because the cost of non-compliance is severe. Federal, state, and local payroll taxing agencies have strong enforcement capabilities that can be intimidating for small business owners. Most large enterprises have in-house treasury expertise but still face major logistical challenges: Filing payroll taxes in multiple states and local jurisdictions, tracking notices, scheduling liabilities, managing state unemployment rate exchanges, and reconciling tax funds held in trust accounts.

Unlike small-to-mid-sized businesses (SMBs) who generally outsource payroll processing and tax filing, many large enterprises use best-of-breed in-house HR software or leverage the payroll and HR modules included in their ERP suite. These enterprise software providers generally do not have payroll tax management capabilities leaving large enterprises to track this complex process manually.

This is exactly where Asure Software, Inc.’s (NASDAQ: ASUR) payroll tax engine comes into play. Asure has architected their payroll tax management platform to act as both an integrated component of their SMB payroll service and as a stand-alone software to serve other payroll companies and large enterprises who face similar multi-state payroll tax challenges. Asure’s payroll tax engine has recently seen integration partnerships with Workday (NASDAQ: WDAY) and SAP (NYSE: SAP), which provide strong validation to the payroll tax platform and opens new opportunities in the enterprise space. Let’s break down these integrations and how they help Asure and its client base.

Overview of the SAP and Workday Integrations & What They Mean for Asure’s Payroll Service

In recent months, Asure, an Austin, Texas-based HCM services provider,  announced its developments with Workday and SAP. 

The human capital management software company recently received Workday’s Global Payroll Certification, which effectively allows for the integration of Asure’s payroll tax offering with Workday HCM. The integration provides another signal of validation for Asure’s payroll tax software and allows the company to work with Workday’s large enterprise client base.

The HCM services company also disclosed that it had joined the SAP PartnerEdge Open Ecosystem, which provides Asure with access to valuable tools, resources, and training to further enhance its payroll tax engine to integrate with SAP’s systems. This is a huge opportunity for the company because it allows Asure to help streamline payroll tax processes for SAP’s massive client base.

So, why is this great news for Asure? First and foremost, the integrations provide validation of its technology. These large software providers require partners to pass a rigorous technical review process to assure their clients that they can rely on the integration and extend the value of their platforms. The certifications signal that these large and respected companies, Workday and SAP, have effectively done their due diligence on Asure’s service and determined there is an opportunity there to add further value to their existing client bases. Further validation comes from recent client wins. 

In addition, this also helps to open huge opportunities across the larger enterprise markets for Asure. As Asure builds relationships and establishes a foothold in the larger enterprise segment, it is likely the company could benefit from the typically larger deal sizes compared to the average SMB payroll client. Asure’s tax engine has unique capabilities filing returns and remitting tax funds to more than 14,000 government agencies at the local, state and federal levels. This is a major selling point and feature that is sure to impress potential enterprise customers.

Asure’s Payroll Tax Service Provides Enterprise Clients With Opportunity to Keep Up with Complex Payroll Tax Filing Requirements

Businesses want to focus on growth, expanding profits, and improving their products or services, not waste time managing the administrative burden associated with payroll taxes. Although it is a necessary and important task, businesses would rather find opportunities to streamline their payroll and taxation operations to help cut costs and focus more time on other matters. 

Asure’s payroll tax engine offers enterprises this exact opportunity. Through their service, enterprise clients can keep their payroll & HR operations in-house to ensure proper efficiency, but with automated adoption of any applicable payroll tax filing requirements. For SMBs with a remote workforce located around the country or globe, this streamlined approach to ensure proper compliance in each of these jurisdictions is a huge advantage.

Conclusion

Overall, the pressures of managing payroll taxes in a climate where states and local agencies are searching for tax revenues creates a significant burden on growing businesses of all sizes.

The recent integrations with Workday and SAP underscore Asure’s technical capability and opens new enterprise markets from two of the global economy’s most influential players in HCM. As businesses navigate the complexities of payroll tax filing requirements and seek ways to focus more on their core objectives, Asure’s payroll tax engine stands out as an essential tool, providing a pathway to efficiency, compliance, and growth. This is a pivotal moment for Asure Software, Inc., as it solidifies its position as a key player in the future of payroll and tax management solutions for businesses worldwide.

Disclaimer:

Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement.

All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated four thousand dollars cash by Asure Software for the creation and dissemination of this content by the company.

This material does not represent a solicitation to buy or sell any securities. Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management.

The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions.

Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/

The post Asure’s (NASDAQ: ASUR) Payroll Tax Engine Receives Boost From Workday and SAP Integrations, Opening Up New Avenues to Capitalize on the Underserved Enterprise Market appeared first on Spotlight Growth.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Sunnyvale.com & California Media Partners, LLC. All rights reserved.