Tickers in this Article: ULTI
Ultimate Software (ULTI) recently announced that its UltiPro solution has been selected by insurance company, Sammons Financial Group (SFG), to better manage its operations.
With an employee strength of 1,400 in four offices and many virtual locations around the U.S., SFG along with its member companies offers a diverse portfolio of investment services.
The solution will enable Sammons to enhance employee communication, provide direct access to employee data for managers and help develop and provide people-centric reporting and business intelligence.
Ultimate Software Group provides unified human capital management (HCM) software-as-a-service (SaaS) solutions, commonly known as "cloud" solutions.
UltiPro Software from Ultimate Software is a comprehensive SaaS-or cloud-based solution serving organizations in the Unites States and Canada.
The solution caters to a wide array of operations like talent acquisition and onboarding, human resources (HR) management and compliance, benefits management and online enrollment, payroll, performance management, salary planning and budgeting for compensation management, succession management, reporting and analytical decision-making tools, and time and attendance.
Hence, the solution enables businesses to better manage the complete employment life cycle from recruitment to retirement.
Earlier, Sammons had deployed a system that did not meet the needs of the organization and consequently, the company chose Ultimate Software in its assessment for a new HCM solution.
Flexibility and user-friendly operations were also the compelling features for selecting UltiPro as SFG wanted a solution that provides 24x7 direct access for employees and managers to the information they need.
Earlier, Ultimate Software announced that Raymond Corporation has deployed UltiPro HCM solution's robust payroll engine, cloud-based access for employees to critical payroll and HR information, and Ultimate's responsive customer service.
Raymond Corportaion provides convoy trainers to Unites States Armed Services and was using a payroll service bureau. However, the company realised the need of a more comprehensive solution to address its human capital management activities from beginning to end. Consequently, Raydon moved to UltiPro Workplace in January 2012, and generated a range of benefits across its business, including time and cost savings.
We continue to maintain a Neutral recommendation on Ultimate Software. Our recommendation is supported by a Zacks #3 Rank, which translates into a short-term rating of Hold.