Ultimate Software was an American multinational technology company that developed and sold UltiPro, a

cloud-based Cloud computing is the on-demand availability of computer system resources, especially data storage (cloud storage) and computing power, without direct active management by the user. Large clouds often have functions distributed over mult ...

human capital management Humans (''Homo sapiens'') are the most abundant and widespread species of primate, characterized by bipedalism and exceptional cognitive skills due to a large and complex brain. This has enabled the development of advanced tools, culture, an ...

(HCM) software system for businesses. Headquartered in

Weston, Florida Weston is a city in Broward County, Florida, United States, just west of Fort Lauderdale. It is part of the Miami metropolitan area, which is anchored by Miami. The population was 68,107 at the 2020 census. Weston is 30 miles northwest of Miam ...

, the company was founded in 1990 by Scott Scherr, and released its first version of software in 1993. As of the fourth quarter in 2017, Ultimate Software reported total revenues of over $940.7 million. As of 2017, the company employs more than 5,000 people and services 4,100 customers in 160 countries. Ultimate has offices around the USA, Canada, UK, and

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bor ...

. On February 4, 2019, Hellman & Friedman Capital Partners announced it would purchase Ultimate Software Group for $11 billion; the purchase closed on May 3, 2019. On 18 February 2020, Ultimate Software announced that Fortune and Great Place to Work ranked the company #2 on the ''100 Best Companies to Work For'' list for 2020. This marks the company's highest-ever ranking on the nationwide list and its fourth consecutive year in the top 10, with the company having ranked in the top 25 of the list since 2012. In February 2020, Ultimate Software announced its plan to merge with

Kronos Incorporated Kronos Incorporated was an American multinational workforce management and human capital management cloud provider headquartered in Lowell, Massachusetts, United States, which employed more than 6,000 people worldwide. In February 2020, the com ...

to form a new cloud computing venture specializing in human resource software. The merger was officially completed on April 1, 2020. The new company, which is called Ultimate Kronos Group, is headed by Kronos CEO

Aron Ain Aron Ain is an American software technology executive and author. He became the CEO of UKG (Ultimate Kronos Group) in 2020, a role he held until being named UKG Executive Chair, effective July 1, 2022. UKG was created from the merger of Ultimate S ...

History

Ultimate Software was founded in 1990 by Scott Scherr. In 1993, the tech company released UltiPro HRMS/ payroll sold as on-premises software servicing core HR and payroll. The company went public (NASDAQ: ULTI) in June 1998. In 2002, UltiPro was reintroduced as a cloud-based Software-as-a-Service (

SaaS Software as a service (SaaS ) is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as "on-demand software" and Web-based/Web-hosted software. SaaS is con ...

) to provide a unified management tool for human resources. This model has allowed the company to hold more than 33 million client records in the cloud and service more than 3,400 customers, according to Career Builder. The company announced they were expanding outside of the United States and opened an office in

London London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...

, England. Later that year, Ultimate announced additional expansions into Singapore.

Products and services

The company's UltiPro is a

platform that delivers

to organizations across all industries. UltiPro provides one system of record for HR, payroll, and talent management. According to TrustRadius, UltiPro now includes time and attendance, employee onboarding, performance management, compensation management, succession management, recruiting, and other features like

predictive analytics Predictive analytics encompasses a variety of statistical techniques from data mining, predictive modeling, and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events. In busine ...

. UltiPro is sold via a

model, with a per-employee-per-month subscription.

Partnering Research

According to the Center for Generational Kinetics, the center partnered with the company in 2014 to conduct research on multiple generations in the workforce. The research looked at work expectations across different generations, with a focus on millennials. The study explored how millennials differ from prior generations in the way they feel about applying for a job, interviewing, receiving feedback, and leaving a job. In 2016, the Center for Generational Kinetics continued their partnership to examine the drivers and motivators behind the people in our workforce. The study focused on how organizations can understand and improve the employee experience.

References

{{Reflist, 2

External links

Ultimate Software
Software companies based in Florida Companies based in Broward County, Florida Software companies established in 1990 American companies established in 1990 1990 establishments in Florida 1998 initial public offerings Companies formerly listed on the Nasdaq Cloud computing providers Human resource management software Weston, Florida 2019 mergers and acquisitions 2020 mergers and acquisitions Private equity portfolio companies Software companies of the United States