Ceridian’s been buying assets this week. The company purchased nearly all the assets of the Richmond, Va., analytics firm Clearview Logix, and certain intellectual property from Paysa, an AI-powered personal career advisor. Among those assets are Paysa.com.
The acquisitions are rooted in Ceridian’s intention to aggressively invest in technology that helps employers manage the employee lifecycle from recruiting to engagement, payroll and development.Acquisitions by @Ceridian show how the company will aggressively invest in technology that helps employers manage the employee lifecycle. #HR #HRTech Click To Tweet
“With these strategic acquisitions, Ceridian is gaining very specialized intellectual property to increase the value of our existing customer offerings and to expand our customer base,” said David Ossip, Ceridian’s chairman and CEO.
Financial terms weren’t disclosed for either transaction.
Clearview Logix creates analytics models to simplify health insurance choices for employees, employers and their administrative partners. By integrating benefits decision support technology into Dayforce, Ceridian hopes to strengthen and expand its benefits offering and make options easier to understand for employees.
Paysa’s machine learning technology allows employers to compare internal job scales with local market rates when posting jobs and determining merit increases. Using Paysa.com, employees can explore salaries across companies, jobs and locations.
Ceridian Adds Aggressiveness?
Erik Zimmer, Ceridian’s chief strategy officer, indicated the Clearview Logix acquisition has at least something to do with sharpening the company’s internal workings. “The talented team from Clearview Logix will help us accelerate culture-driven innovation at Ceridian,” he said.
Ceridian plans to fully integrate Clearview’s and Paysa’s technology into Dayforce, which Ossip said will help customers improve their benefits offerings while saving money. In addition, the company plans to “be opportunistic” when it comes to acquiring intellectual property that could improve its solutions.
Earlier this month, Ceridian reported strong results for 2018’s fourth quarter. The company said revenue from Dayforce increased 34 percent to $122.6 million during the period, and that some 3,700 customers were live on the platform, a net rise of about 250. In total, Dayforce now has more than 3.1 million active users, the company said.
During its earnings call, Ossip said that in 2018 roughly 20 percent of Ceridian’s sales came from existing customers who added on features. “We expect the cadence of product announcements and launches in 2019 to be similar to that of 2018,” he said.
In January, the company launched new Dayforce features for retailers, including a planned on-demand pay module and a virtual assistant.
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