David Meagher, President
The complex business environments of today have made legacy payroll solutions obsolete. In order to survive, solution providers must deliver a holistic end-to-end HCM suite in place of stand-alone payroll solutions. “Service bureaus are getting numerous service requests from their customers which falls outside the purview of traditional payroll, which is a major challenge,” says David Meagher, President, Evolution HCM.
Headquartered in Burlington, VT, Evolution HCM was established by two payroll industry veterans, who had the goal of building an efficient, scalable, user-friendly yet low-cost product set. Today, the company has “evolved” and now caters to the Human Capital Management needs of its licensees and their customers, ranging from start-ups to large employers.
Evolution HCM provides payroll tax management, tax processing, time and labor management, applicant/employee tracking (hire-retire), benefits management in addition to a strong modern payroll solution in a suite—making it easy to scale and operate. Evolution HCM provides greater auditability—meaning balances are audited to the penny each day, including ACH (Automated Clearing House) accounts when compared to other payroll software solutions. “Our solution keeps our licensees ahead of legislative changes like The Affordable Care Act, by delivering comprehensive reporting that the employers need to stay compliant with this very complex legislation,” adds Meagher.
Unlike many of its competitors in the market, Evolution HCM does not sell their products directly to end-user businesses but concentrates on continual product development and building our channel of new licensees, leaving independent service bureaus to do the end-user selling. The company maintains a close association with its licensee distributors and retailers, often addressing product queries on unscheduled phone calls. “We engage with them to learn more about their market needs,” says Meagher.
“The company has two data centers or Network Operation Centers (NOCs); one in Vermont, and another in Nevada which facilitates secure, encrypted asynchronous data replication (ADR) for undesirable situations of data loss. “A client of ours recently suffered a natural disaster in their data center.
We had them up and running again within a matter of hours,” says Meagher. Virtual mailroom is another unique utility, through which service bureaus can send paystubs, documentation, banking details and automated financial reports.
Evolution HCM is delivered in a SaaS platform to its clients across different industry sectors including financial institutions, accounting firms, HR consulting companies and traditional payroll service bureaus. Farsheed Ferdowsi, CEO and Founder of Inova Pay, an independent service bureau and Evolution’s distributor said, “Evolution is not just your vendor. Your platform software is your business partner, and software is organic. If you don’t feed it, if you don’t nurture it, it dies. So you have to select a company that has a good software platform today with a visionary, ambitious roadmap into the future. They have to illustrate to you that they are investing in their company and that they have great people who work with you and who are easy to work with. Evolution has all of those.”
Provides business, HR/Benefits, payroll, technology, and software development solutions for companies of every size and vertical via independent service bureaus.
The company has an aggressive plan to expand its market in the near future. “We are building a Service-Oriented Architecture (SOA) and have invested in some great tools such as a Business Intelligence (BI) toolset for our analytics initiative,” adds Meagher. To capture more market share, the company will add sales and marketing support and training programs for its retailers and end-clients. “Within the next year, we will literally leapfrog every platform provider, and anticipate strong double-digit growth. 2015 is a build year, and beyond that we expect rapid adoption of our expanded services and new licensee growth,” says Meagher.