Channel partners seeking to gain competitive advantage and lucrative new opportunities need look no further than the thriving SaaS HRIS (Human Resource Information Systems) market. In the fast-paced landscape of Human Resource Management, the adoption of HRIS for SMEs has emerged as a critical strategy for businesses.
Factorial, a company valued at over €1bn and a global provider of HRIS for the SME segment, is leading this channel-led approach in the UK. The HRIS provides integrations to systems from Microsoft (365, PowerBI, Azure), SAP (B1), Slack, Jumpcloud, and Monday.com. Tapping into these partner ecosystems, Factorial will be heavily investing this year into their partnerships to significantly increase their global 10,000 client user base.
The Growing Market of Cloud-Based HRIS Solutions in the UK
The UK has witnessed a notable shift towards cloud-based HRIS solutions, aligning with global trends regarding the growing significance of HRIS. The survey conducted by Software Advice reveals that 56% of small and medium-sized companies in the UK use HR software, while almost 40% are on the lookout for new HR software as they feel limited. Clearly there is considerable market potential for channel partners specialising in HRIS solutions.
According to an IBISWorld report, HR and payroll software are especially popular among SMEs (10 to 1500 employees). This is mostly due to their more affordable pricing compared to traditional management systems in the sector.
In recent years, there was an anticipated compound annual growth rate of 5.4%, culminating in revenue reaching £1.4bn. Moreover, the IBISWorld report states that the HR & Payroll Software industry in the UK market has low concentration as top providers collectively contribute less than 40% of the total revenue. This shows that HRISs focusing on SMEs have a lot of potential in this market and should be considered as a beneficial opportunity for MSPs and VARs. Additionally, a Software Advice survey confirmed that one-third of British SMEs are looking to switch HR software for one that could better meet their needs.
As laws and regulations governing SMEs continue to develop, there’s an escalating demand for software solutions capable of securely storing sensitive personal data. There’s an urgent need for swift access to data insights covering crucial areas such as employee well-being, expense management, turnover rates, absences, and time-to-hire metrics.
By automating and streamlining repetitive tasks, these solutions empower teams to reclaim valuable time, enabling them to concentrate on fostering employee excellence. Consequently, HR teams are positioned to gain significant influence, transitioning from administrative roles to strategic partners within their organisations.
Channel partners stand to leverage the burgeoning demand for cloud-based HRIS solutions, exemplified by Factorial, tailored specifically for the requirements of UK businesses. Offering such solutions complements their existing product portfolios and sets them apart from competitors.
Cloud-based systems’ inherent flexibility, scalability, and accessibility make them particularly appealing to organisations seeking modern and efficient HR solutions. By aligning their offerings with this trend, channel partners can provide bespoke HRIS solutions that precisely address the unique needs of UK businesses.
Channel as the main focus for the Factorial partner programme
Factorial, with a team of 1,000+ employees and offices in Barcelona, Miami, Sao Paulo and Mexico City, is considered as the market leader in HR management software for the SME segment. The company is tripling its numbers every year and is looking for partners to accelerate even more.
Since its foundation in 2016, the company has been transforming the traditional approach to human resources with tools that automate, simplify and streamline administrative processes, while offering valuable insights to enable companies to focus on the core of their success: their people.
This achievement underlines our constant commitment to sustained growth and continuous adaptability to changing market needs, demonstrating that our pinnacle is always evolving thanks to our continuous expansion.
Factorial’s UK partners plan, launched in 2023, is focused on teaming up with distributors in a way that makes economic sense but also helps them stand out in the competitive HR world. They’re targeting software distributors and taking a careful approach to selling their solutions, making sure to work closely with potential partners.
As lots of small businesses in the UK are becoming more interested in using HR software, it’s a great time for partners to get involved. Factorial is ready to grow quickly through its Partnership Programme and has set up a special team just for the UK to find the right skills and partners – fast.
Factorial has a whole team dedicated to helping partners succeed. They offer everything from training to sales help and marketing materials to ensure partners’ success. To find out more about becoming a partner, click here.
This article was produced in association with Factorial and is classified as partner content. What is partner content? See more here.
Marvin Molijn
Marvin Molijn, the Head of Strategy & Partnerships UK&I at Factorial, leads a strategic mission, with his team, to drive the next phase of growth in the UK&I market. His expertise extends across Go-to-Market strategies, partnership development, MSPs, vendors, and affiliate programs. Factorial, known for its cutting-edge HRIS solutions tailored for SMEs, is rapidly expanding globally. Marvin's in-depth knowledge of the UK&I market uniquely positions him to address the region's distinct HR needs and foster collaboration within the industry.
Prior to his role at Factorial, Marvin played a vital part in shaping partnerships for fast-scaling 3D Printing companies like BCN3D and Ultimaker, further underscoring his experience in driving strategic alliances.
