Paylocity Acquires TraceHQ.com to Enhance Workforce Planning Solutions

SCHAUMBURG, Ill., Dec. 01, 2023 (GLOBE NEWSWIRE) -- In a strategic move to expand its suite of workforce management solutions, Paylocity Holding PCTY, a prominent provider of cloud-based HR and payroll software solutions, officially declared the acquisition of TraceHQ.com, Inc. ('Trace'), a cutting-edge platform specialized in headcount planning. This acquisition is expected to offer substantial benefits to organizations, streamlining their ability to plan, manage, and adapt their workforce structures in response to the dynamic business landscape.

The Strategic Fit for Paylocity

Trace's platform complements Paylocity's existing portfolio by sharpening the focus on workforce planning—a critical aspect for midsize companies looking to grow and remain competitive. Paylocity, headquartered in Schaumburg, Illinois, is well-known for its comprehensive, cloud-based solutions that serve the HR and payroll sectors. The integration of Trace's platform is set to provide Paylocity clients with enhanced functionalities, helping businesses navigate the complexities of scaling up their teams in an efficient and sophisticated manner.

Advancing Paylocity's Market Position

The acquisition of Trace represents a significant leap forward for Paylocity PCTY in the domain of human capital management (HCM). Trace's innovative approach to headcount planning will now be a part of Paylocity's robust HCM offerings, further positioning Paylocity as a leader in the sector and marking its commitment to delivering powerful and scalable workforce solutions that resonate with the needs of modern organizations.

Optimizing Workforce Scalability

The integration of Trace's capabilities with Paylocity's existing platforms is expected to introduce a transformative influence on how organizations tackle their headcount planning challenges. The objective of such strategic acquisitions is to provide Paylocity's clienteles with tools that are not only comprehensive but also intuitive, enabling business leaders to make informed and timely decisions regarding their staffing strategies. Through this acquisition, Paylocity aims to deliver a synchronized landscape of HR and payroll data, enriched with advanced planning analytics and insights.

Acquisition, Paylocity, Workforce