Ultimate Software [NASDAQ:ULTI]: People-centric HR Technology

Scott Scherr, Founder, President, & CEO, Ultimate SoftwareScott Scherr, Founder, President, & CEO One of the first companies to embrace the idea of ‘HR in the cloud’, Weston, Florida’s Ultimate Software was founded in 1990 by Scherr with the express intent of ‘continuously innovating and striving for product excellence’—to become the industry’s best or ‘ultimate’ software for HR and payroll professionals. “At Ultimate, we continue to focus on innovations that contribute to our customers’ business success. We were the first HCM provider to deliver a multi-tenant, subscription service over the internet in 2002, a model that later became known as cloud delivery. Since that time, we have led our industry with many other innovations,” remarks President, and CEO of Ultimate, Scott Scherr.

Founding Ultimate with three other folks—all of whom are still with the firm, Scherr feels humbled for his 99 percent employee approval rating that has led his company in the path of innovations that contribute to its customers’ business success. Ultimate Software’s UltiPro is a cloud-based Human Capital Management (HCM) solution designed to help organizations manage their HR, payroll, and talent needs. A configurable solution, UltiPro has functionality for recruiting and onboarding new hires; calculating and processing payroll; managing time and labor; developing employees through performance, succession. It also provides the required tools for efficient compensation management; administering workplace surveys, and measuring employees’ feelings about work through sentiment analysis.

Organizations can also leverage UltiPro’s suite of embedded predictive and prescriptive analytics tools, as well as UltiPro’s business intelligence and reporting, across all of its solutions. UltiPro offers employees role-based access for completing such tasks as managing pay and benefits information, setting and tracking goals, and requesting time off; and the solution is available via employees’ computers and mobile devices.

Unique Functionalities

UltiPro for HCM manages records for thousands of organizations across industries on the cloud. UltiPro unites all aspects of HR, payroll, and talent management in one comprehensive cloud solution that delivers numerous business benefits for an organization and the most human capital management functionality available for the greatest value today.

UltiPro delivers all the strategic HR functionality needed in one global system of record—tracking all human capital management information about the employees, including personal information, employment history, benefits information and performance history. The platform offers one of the most flexible, functional payroll engines on the market; UltiPro handles even the most complex payroll computations and requirements for employees in just a few simple steps.
The platform makes setting up and administering benefits simple and efficient. UltiPro provides an intuitive benefits enrollment experience for employees that guide them to make well-informed benefits choices for themselves and their families. Alongside, UltiPro also offers a learning solution delivering a modern learning management experience and a compelling, person-centric approach to training and developing and providing employees with consumable, on-demand content, social and collaborative tools, and complete mobile access.

We have built our business around the concept of putting people first, and this principle will continue to remain at the forefront of all that we do

UltiPro’s talent solutions can help organizations engage and develop their workforce for today and tomorrow with easy to use human capital management, performance management, and succession management tools for the person-centered lifecycle. UltiPro can deliver a continuous performance management process, support employee career development, and build a talent pipeline for the future. Going beyond traditional employee-survey tools and gaining the insight today needs a best-in-class platform like UltiPro Perception, to obtain a better understanding of what employees truly feel about the workplace.

The Payroll Specialists

Being the most flexible, functional payroll engine on the market, UltiPro does it all, handling hundreds of payroll-related computations in U.S. and Canadian dollars with no need for side calculations or expensive programming. Complex payroll wage calculations delivered with UltiPro include shift premiums, pieceworker and makeup pay, which is great for large enterprise organizations, average pay rates for overtime calculations, garnishments and levy calculations.

For fast and efficient processing, UltiPro delivers a Payroll Gateway—one—click access to all of an organization’s payroll data. Payroll Gateway offers a comprehensive view of the payroll calendar and pay dates so that customers can select their preferred pay group for payroll processing, check payroll setup, review processing status and payroll results, and access reports. Plus, firms can simplify the payroll process, configuring their own payroll models by bundling a series of payroll steps into one. With UltiPro, users can process payroll from start to finish in a few easy steps, including automatically retrieving time and attendance data for payroll processing, calculating pay (including gross-to-net), generating direct deposit files, paychecks, and direct deposit advice for U.S. and Canadian banks, which is great for large enterprise organizations, issuing off-cycle checks or voiding payments instantly, calculating and tracking retroactive pay.

UltiPro delivers all U.S. federal, state, local and Canadian federal and provincial/territorial tax updates automatically every quarter as part of the core solution, hence customers don’t have to pay for or work with a third-party tax service.
UltiPro’s comprehensive tax management system helps organizations handle tax compliance and computations, including multi-state taxing rules and reciprocity, as well as taxation wage accumulation and withholding requirements.

In an instance, the Yamaha Corporation of America (YCA) that offers a full line of musical instruments and audio/visual products to the U.S. market wanted a best-in-class payroll solution and chose Ultimate Software. Yamaha had been using a payroll service bureau with limited talent and benefits management capabilities and began looking for an HCM solution with end-to-end HR functionality that would allow for a more holistic analysis of workforce trends. After choosing UltiPro, Yamaha has effectively streamlined its HR operations, and the HR team is now focused on strategic HR initiatives that support business growth.

"At Ultimate, we continue to focus on innovations that contribute to our customers’ business success"

“UltiPro is easy to use and helps us manage the entire employee lifecycle, and we can report on almost anything we need,” says Tracy Bargielski, General Manager of Human Resources for Yamaha Corporation of America. “Plus Ultimate Software has the customer service to fully support and back up UltiPro. We just searched for the best and knew UltiPro was truly a unique solution.”

Next in Line for Innovation

Scherr along with his team of experts have also built a unique AI platform— Xander, powered by a natural language processing and machine learning capabilities, which enables UltiPro to automatically understand, predict, and prescribe personalized actions from relevant HCM data within the solution, helping organizations better understand their people and drive change. The firm’s new artificial intelligence platform gives clients the ability to understand workers better by looking at survey responses and analyzing business statistics.

“We unveiled our new artificial intelligence platform, Xander, at Connections, our annual customer and partner conference. Named in honor of Alexander Graham Bell, Xander offers our customers ground-breaking opportunities for understanding their employees better by interpreting the emotions behind survey responses in addition to extracting meaningful statistics,” adds Scherr. “More than 3,000 HR and business professionals attended Connections, where we showcased two other new product solutions, shared our product roadmap, and led more than 70 breakout sessions.”

Ultimate Software believes in a simple saying: a successful company has happy employees. “People First” isn’t just a description of their attitude towards the customers or the design of their cloud-based human resources solution. It’s also a statement about their workplace life. The company aims at continuing towards enhancing their workforce and will be committed to maintaining a culture built on innovation, trust, respect, and care for all people. Ultimate takes great pride in their people and in the accomplishments of the employees, working towards building their professional growth, and encouraging their ideas. All of their departments have tenured people who believe in their mission, and understand the company vision. “We have built our business around the concept of putting people first, and this principle will continue to remain at the forefront of all that we do,” extols Scherr.
- Eileen Singh
    June 09, 2017