PrimePay, a human capital management, payroll and benefits services company, has acquired SyncHR, an all-in-one HR and payroll company, a press release stated on Friday (April 30).
“Pam and the SyncHR team have built an incredible product that is leading the charge in modernizing and revolutionizing HR operations in the constantly evolving HCM landscape,” said John LaMancuso, CEO of PrimePay. “This acquisition expands and elevates our capabilities to meet the unique challenges facing mid-enterprise companies. With our offering, we are creating a new category that will empower mid-enterprise organizations with a level of sophistication in their HCM capabilities that rivals that of the largest corporations, and is configurable to their specific needs and opportunities.”
SyncHR’s services work to make operations more efficient through real-time insights on staffing, budgets and other such things on one central system. The combination of the two companies will work to help scale solutions accordingly. The unity of the two companies will create “a leading HCM offering for emerging and mid-enterprise firms,” according to the release.
As part of the deal, SyncHR CEO Pam Glick will join up with PrimePay as chief marketing officer, and will be focused on “go-to-market strategy, product and innovation, and customer success initiatives.” Glick said the unification of the companies “accelerates the innovation we’re bringing to market to modernize HCM by positioning it as a strategic business function that directly contributes to our clients’ growth.”
“Aquiline’s deep sector expertise and ample financial resources will also play a key role in positioning the combined company to enable its customers to excel in this era that is defined by a demand for agility and data-driven insights,” she added.
The idea of a biweekly payday, despite being a tradition, might be on its way out, according to a PYMNTS interview with LaMancuso. He noted that payroll was a central point for most businesses, and that automation gives companies less of an excuse to run payroll only every other week or so.