Paylocity plans to create a consolidated platform for all business-related spend by buying Airbase.
The deliberate acquisition will add Airbase’s finance and spend administration software program answer to Paylocity’s human sources (HR) and payroll software program platform, Paylocity stated in a Wednesday (Sept. 4) press launch.
Topic to customary closing situations and regulatory approvals, the transaction is predicted to shut within the first or second quarter of fiscal 2025, in line with the discharge.
“Many corporations use disparate software program options or handbook processes to handle their labor prices and non-labor vendor and procurement spend, and we anticipate this acquisition will give us the flexibility to supply a complete answer and trendy consumer expertise for managing all spend on a single built-in platform,” Paylocity President and CEO Toby Williams stated within the launch.
Airbase Founder Thejo Kote stated in a Wednesday put up on LinkedIn that he was satisfied to promote the enterprise by the chance to create a unified human capital administration (HCM) and finance platform for mid-market corporations.
“Airbase’s mission has all the time been to enhance the lives of those that work within the workplace of the CFO and assist corporations management their future with higher administration of their non-payroll spend,” Kote stated within the put up. “By becoming a member of forces with Paylocity, we now have a chance to ship a unified expertise to handle 100% of the spending that occurs in a enterprise.”
Paylocity’s software program options assist companies automate and streamline HR and payroll processes, in line with the discharge.
Airbase’s platform options invoice pay and accounts payable automation, expense administration, company playing cards, procurement course of automation, and workflow automation throughout key spend and enterprise course of programs, per the discharge.
The deliberate integration of those options will allow corporations to see payroll and non-payroll spend “by way of a single pane of glass,” the discharge stated.
“Airbase represents an thrilling alternative to increase our relationship with our almost 40,000 purchasers to supply an built-in software program platform for operating their enterprise operations, whereas additionally providing a really compelling worth proposition for prospects throughout our goal market,” Williams stated within the launch.
This information comes about 9 months after Paylocity acquired headcount planning agency Hint. Paylocity stated in December 2023 that the addition of that agency will allow it to increase its platform and supply labor planning instruments to mannequin, forecast, implement and analyze headcount choices.
