🍂 Global Compounders Database: October Update

Hello. Here's the October update of the Global Compounders Database. You can find the download link on the Exclusive Content tab. Let's take a look at what's new and what stands out.

One new company

I'm always on the look out for exciting new companies to add to the database, while also trying to keep the list of names below 400.

This month saw the addition Paylocity.

• They sell payroll and HR software to small, mid-size, enterprises. For most businesses with employees, payroll and HR compliance is mission-critical, therefore Paylocity’s products address tasks that cannot be ignored.
• The HR and payroll software sector has a number of strong players (including ADP and Paychex), with Paylocity being a credible leader in the sector.
• There's a reasonably wide barrier to entry come from regulatory and tax compliance complexity and switching costs due to integration with other systems.
• As a SAAS business, customers pay ongoing subscriptions, creating recurring revenue.
• Demand for payroll and HR software tends to be fairly stable. There may be some sensitivity, but overall this is a fairly non-cyclical.

Who stands out this month?

Let's take a look at the companies that stand out this month.