Friday, June 5, 2009
Intuit, Inc. Acquires PayCycle.com
Well... this is an interesting development.
I have to admit, that as one of the folks who was laid off when Intuit closed up Complete Payroll Services awhile back - that I felt a bit irked at first. Selling off all of those ~30k hard earned clients to ADP might have made a small black mark on my heart that is still healing... then they step up and buy yet another payroll company?
Upon further reflection, I think they might just pull it off this time - and good for them.
Both CRI and CBS Payroll, as acquisitions, brought in outsourced payroll clients and back-end systems to support them. This class of client was a fair mix of call/fax along with online clients. As they later unloaded the clients to ADP, Intuit appears to have re-focused on the smaller web based clients which are still being offered service up there on Payroll.com. This acquisition is adding to that online payroll model 60k+ clients. Not bad, not bad at all.
Perhaps the mold that PayCycle has built for online payroll clients will mesh nicely with where Intuit has taken their outsourced payroll offering since '07 - to the web.
I wish the PayCycle folks all the best. Acquisition is a wild ride!
by: Logan Cashwell