Paylocity Enhances Platform with Acquisition of Trace for Advanced Headcount Planning

Paylocity Holding Corporation PCTY, a prominent provider of cloud-based payroll and human capital management software solutions, recently announced its acquisition of Trace, a company specializing in workforce planning tools. This move is set to enhance Paylocity's platform by integrating sophisticated labor planning features that enable businesses to efficiently model, forecast, implement, and analyze headcount decisions.

Strategic Expansion for Paylocity

The acquisition of Trace marks a significant milestone for Paylocity PCTY as it seeks to broaden its comprehensive suite of human capital management tools. With this integration, Paylocity's clients will gain access to Trace's specialized headcount planning capabilities, improving their ability to manage workforce dynamics in today's ever-changing business environment.

Competitive Landscape in the HCM Sector

Paylocity's PCTY strategic move also adds a competitive edge in the human capital management (HCM) sector, which includes major players such as Automatic Data Processing, Inc. ADP and Workday, Inc. WDAY. Both ADP and Workday are well-established in providing comprehensive cloud-based HCM software and services, and with the infusion of Trace's capabilities, Paylocity positions itself as a more formidable competitor in this space.

As organizations increasingly look for integrated solutions that can address all aspects of human resources including payroll, talent acquisition, and headcount planning, Paylocity's acquisition of Trace is a strategic enhancement that responds to market demands for more robust HCM tools. It reflects a growing trend where companies are fortifying their platforms through acquisitions to meet the evolving needs of their clients.

Paylocity, Trace, Acquisition