ADP Invests in HR ASP
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AtWork Technologies Inc., a leading provider of Internet-based human resource management applications for mid-sized companies, today (Jan 10) announced that Automatic Data Processing Inc. (ADP) has made an equity investment in AtWork Technologies.
ADP will have a minority investment in AtWork, and has announced a strategic partnership that includes a sales distribution agreement. Under the terms of the multi-year agreement, ADP will sell, implement and service ADP Benefits Expert, which is powered by AtWork. The solution, which is targeted for companies with 100 to 5,000 employees, will allow clients to set up complex benefits plans, calculate eligibility, reconcile premiums and provide employee self-service. ADP Benefits Expert is easy to deploy and manage, and will be integrated with other ADP Employer Services' offerings including payroll, Human Resources, 401(k), COBRA and Flexible Spending Accounts.
"We are extremely excited that the world's largest provider of employer services has become a strategic equity partner in AtWork," said Don Taylor, founder, CEO and president of AtWork Technologies. "To date, the core of our efforts has been on building world-class HR and benefits solutions that address the special needs of mid-market organizations. The additional funding provided by ADP will enable us to increase our investments in product development and customer support to extend the company's leadership position."
ADP is the world's largest provider of payroll services and Human Resource Information Systems (HRIS), offering a comprehensive range of benefits, payroll and business tax deposit and reporting, time and attendance, 401(k) record keeping and unemployment compensation management services to more than 500,000 employers worldwide.
"Our investment in AtWork Technologies signifies a tremendous alignment in our respective visions and strategies, as well as a strong belief in their technology, management team, and ability to execute," said Russ Fradin, president of ADP Employer Services. "The combination of our co-branded benefits solution, distribution agreement and equity investment positions ADP to emerge as the industry's leading Internet-based benefits administration solution."
AtWork delivers HR and benefits software solutions to mid-sized enterprises over the Internet. The Atlanta-based company's flagship Internet Business Service, AtWork.NET, is a highly configurable, rapidly deployed, self-maintained HR management solution including benefits administration, organizational management, payroll services, time management, recruiting and education. AtWork's investors include Automatic Data Processing (ADP), EGL Holdings and ITC Holding Company.