UltiPro Customer Teardown

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Last updated February 12, 2019

Ultimate Software, which was founded in 1990, is the owner company of UltiPro and it specializes in providing comprehensive Human Capital Management (HCM) software solutions. UltiPro, on the other hand, has five industry-specific offerings: Financial Services, Healthcare, Retail, Manufacturing and Professional Services and they also have an offering called Perception Software which offers sentiment analysis about the workplace. Fiscal 2017 revenues were approximating $1 Billion.

According to Slintel data, UltiPro has a total of 1469 active customers. They had an addition of three new customers and a deletion of one customer recently. The three newadded customers are Phillips Edison & Company, OHM Advisors and Technoserve. The only loss came from Insurity, an Insurance Technology provider.

Further analysis of Slintel’s data shows that 24% of UltiPro’s customers have less than 50 employees, while a total of 42% have than 200 employees or less. Regarding industry breakdown, close to 30% of UltiPro’s customers are from Professional Services, while Healthcare and Financial Services account for 20% and 18% of customers respectively. UltiPro has a negligible presence outside the US, with just a small amount of customers in Europe.

Some of their key customers are:

American Food & Vending Inc.

American Food & Vending is one of the largest privately-held corporate and educational culinary and refreshment service providers in the United States.

Associated Milk Producers, Inc.

AMPI manufactures and markets dairy products. The Company provides milk, packaged and processed cheese, butter, cheese sauce, pudding, ice cream, and other products. AMPI employees more than 1,400 people. It is one of the top 10 dairies in the US.

Fisher Barton Group

The Fisher Barton Group, Inc., together with its subsidiaries, manufactures components for agricultural, converting, outdoor power, and recycling equipment, as well as medical device and solar power markets.

Metrix Instruments

Metrix Instruments is one of the leading manufacturers of machinery condition measuring and monitoring equipment.

Morris Group International

Morris Group International, through its subsidiaries, manufactures engineered plumbing and drainage products. They employ 1700+ people across 25 divisions and 9 locations.

QC Energy Resources

QC Energy Resources provides Transportation and Logistics services to the Oil and Gas industry. They employ more than 1,500 drivers itself.

Radio Systems Corporation

Doing business as PetSafe, RSC manufactures and markets pet behavioral, containment, and lifestyle product solutions. It offers containment systems, including in ground and wireless fences; and training products, such as sprays, statics, ultrasonic, harnesses and head collars, and clickers and treat training products.

Schwing America

The SCHWING group designs, manufactures and distributes premium construction products globally. They are headquartered in Herne, Germany. Some of their main products are Cement mixers and pumps and reclaimers. Schwing America is responsible for distribution in North and Latin America.

SeaChange International

SeaChange International is a multinational company headquartered in Massachusetts. It provides video products and services, along with television advertisements for distribution on multiple screen types. Its products include video on demand, TV Everywhere (a type of media business model) and media based Enterprise Software.  

The AMES Companies Inc.

The Ames Companies, Inc. manufactures and markets non-powered lawn and garden products, including tools and decorative accessories for homeowners and professionals.

The Wasserstrom Company

The Wasserstrom Company is the world's leading restaurant supplier and distributor of foodservice supplies and equipment. The company employees more than 1,500 people.


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Key Competitors

UltiPro ranks 10th out of 221 vendors who provide ATS software and are tracked by Slintel. The two incumbents in the ATS space are Taleo and iCIMS, having more than 4,500 customers each according to our data. Other significant competitors in the ATS space to UltiPro are Workday Recruiting, ApplicantPro, Greenhouse HR, Successfactors and Jobvite. An interesting note here is that all the immediate competitors have a standalone ATS solution, while UltiPro provides a complete HCM package. This may make UltiPro better suited to Small and Medium Businesses (SMB’s) who would rather have a comprehensive HCM at a similar price point to a standalone ATS solution. However, on the flip side, this may hinder UltiPro’s ability to target larger companies.

Slintel’s ATS tracking data shows that close to 16% of UltiPro customers had previously been using iCIMS, while close to 14% of customers have been acquired from Taleo. On the flip side, Taleo has gained 18% of the customers leaving UltiPro, while Workday Recruiting, iCIMS, CATS and Jobvite each accounted for 9% of the customers who left.

In UltiPro’s peer group, Workday has outperformed in the number of net customer additions, with 16 additions and 3 deletions. Jobvite had 7 additions and 3 deletions, SuccessFactors 4 additions, and no deletions, while Greenhouse HR had 6 additions and 6 deletions.

Approximately 30 customer contracts will be up for renewal in the April - June 2019 quarter. This could be an excellent opportunity for vendors interested in UltiPro’s clients.

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