Zellis Acquires Elementsuite to Create AI-Powered HR and Payroll Platform

Zellis acquires elementsuite

As part of the transaction, elementsuite will be combined with Zellis, the largest provider of payroll and HR software to the UK and Ireland, creating an end-to-end AI-powered HR and Payroll platform. Zellis and elementsuite will become one company, bringing together elementsuite's AI enabled HR (human resources) and WFM (workforce management) suite with Zellis' Payroll and HR platform. The combined offering will provide Zellis' customers with additional HR functionality and deliver elementsuite's customers access to Zellis' payroll technology, allowing customers of both businesses to benefit from a full HR and payroll suite. elementsuite is an AI enabled HR and WFM software company that delivers a HR suite to manage the full employee lifecycle, servicing enterprises including McDonald's and Five Guys. In June, Zellis launched HCM AIR (AI enabled and Realtime) that provides cutting-edge AI and Realtime payroll to enhance functionality and create exceptional employee experiences. This acquisition further builds on Zellis' existing AI capabilities and extends it across a full HR suite. Abigail Vaughan, CEO of Zellis Business Unit, said: "We're excited by the opportunity that this combination brings for new and existing customers of both elementsuite and Zellis. Bringing together the depth of talent across both businesses and combining the strength of elementsuite's HR and AI capabilities with Zellis' payroll, HR and AI capabilities will deliver even more value to our combined customers." Steve Elcock, CEO/Founder of elementsuite, commented: "We are incredibly proud of the AI enabled HR suite we have developed in recent years and, with the support of Zellis, are looking forward to bringing the benefits of our technology to more businesses. Zellis' leadership in payroll will further enhance our overall offering and will help us better meet market demand." The transaction is subject to customary closing conditions and financial terms were not disclosed.

Zellis to Expand AI-Powered HR and Payroll Platform With Elementsuite Acquisition | PYMNTS.com

Zellis said Thursday (Jan. 9) that it plans to create an end-to-end artificial intelligence (AI)-powered human resources (HR) and payroll platform by acquiring elementsuite. The acquisition will add elementsuite's AI-enabled HR and workforce management (WFM) suite to Zellis' payroll and HR platform that serves U.K.- and Ireland-based companies with more than 1,000 employees, Zellis said in a Thursday (Jan. 9) press release. The transaction is subject to customary closing conditions, according to the release. "Bringing together the depth of talent across both businesses and combining the strength of elementsuite's HR and AI capabilities with Zellis' payroll, HR and AI capabilities will deliver even more value to our combined customers," Abigail Vaughan, CEO of the Zellis business unit, said in the release. Following the closing of the transaction, the two organizations will become one company, per the release. The acquisition by Zellis will bring elementsuite's technology to more businesses, Steve Elcock, CEO and founder of elementsuite, said in the release. "Zellis' leadership in payroll will further enhance our overall offering and will help us better meet market demand," Elcock said. Zellis parent company Zellis Group was acquired in April by private equity group Apax Partners, which said that the company was serving roughly "one third of the FTSE 100," with its payroll software used to pay or reward around 5 million people each month. "We have been closely tracking Zellis for some time, and we believe that the investments in technology and go-to-market infrastructure that the Zellis team have made positioned the company for long-term success," Apax Partner Roy Mackenzie said at the time in a press release. In another, separate deal in this sector, global HR and payroll product provider Deel acquired London-based money transfer service Atlantic Money in April, saying it aimed to strengthen Deel's payment infrastructure in Europe. Atlantic Money had moved over a half billion pounds for more than 10,000 global customers since its launch two years earlier. In September, finance and HR suite finally raised $200 million in new funding to bolster its small- to medium-sized business (SMB)-focused offering. The finally platform provides business owners with a suite of tools for managing things like bookkeeping, payroll, billpay and expense management.