Careers at Ultimate Software

Mission

Ultimate Software seeks to streamline and optimise the human capital management systems f corporate, commercial, and institutional clients across multiple sectors

Founding story

Ultimate Software was founded in 1990 by Scott Scherr, who continues to serve as the Company’s Chief Executive Officer. The Company was initially incorporated as The Ultimate Software Group Limited, and was reincorporated under its current name in 1996. The Company was launched with a view to optimising corporate and commercial human capital management systems.

Ultimate Software has established itself as one of the leading providers of human capital management software solutions in the world. It has expanded its operations from a small US operator to having operations across the US, Canada, the UK, and Singapore.

The Company completed an initial public offering in 1998 and continues to trade a portion of its shares on the Nasdaq. The Company has a current market capitalisation of $5.78 billion.

Benefits at Ultimate Software

Business model of Ultimate Software

Customer Segments

Ultimate Software offers a wide range of software products and solutions to corporate and institutional clients across multiple business sectors. The Company’s customers can be organised broadly into the following categories:

  • Manufacturing, comprising original equipment manufacturers and producers of various consumer goods items across multiple sectors;
  • Healthcare, comprising healthcare providers and medical service companies;
  • Professional Services, comprising professional services firms of varying sizes and business service providers;
  • Retail and Wholesale, comprising retailers and wholesalers of a wide range of services and products;
  • Hospitality and Travel, comprising travel agencies, hotels and resorts, and restaurants and other foodservice businesses;
  • Finance and Insurance, comprising a range of financial service providers, insurance companies, and banking institutions;
  • Automotive and Transportation, comprising various transportation businesses and automotive service providers;
  • Sports and Entertainment, comprising major sports franchises and media networks; and
  • Non-Profit, comprising a range of non-profits and charitable organisations.

Ultimate Software names a number of its customers on its website, including high-profile names such as the Chicago Cubs, Sony Music Entertainment, P.F. Chang’s China Bistro, Yamaha, and Nikon.

Ultimate Software principally serves clients in its native US. The Company’ however, also serves an extensive international client base, including across markets in Asia Pacific and Europe.

Value Propositions

Ultimate Software provides value to its clients in the following ways:

  • Its industry standing and reputation, with the Company established as a leading provider of corporate software solutions, having a positive track record across multiple industries that its demonstrated by its ability to secure business from a diverse client base including high-profile names such as Nikon and Yamaha;
  • Its extensive product portfolio, with the Company offering a wide range of software products that cater to a variety of needs, including human resources, payroll, and benefits management functionality;
  • Its proprietary technologies, with the Company utilising various proprietary technologies in the development and implementation of its solutions that set its products apart from competitors within the industry;
  • Its international reach, with the Company serving a large domestic client base in the US, as well as customers across multiple international markets in Europe and Asia Pacific; and
  • Its industry expertise and experience, with the Company employing specialist technical personnel to ensure the effective development and maintenance of the Company’s products, as well as a team of experienced industry executives.

Channels

Ultimate Software operates a website at www.ultimatesoftware.com, through which it provides information on its products, solutions, target industries, and operating locations. While the Company does not operate an online sales channel, it does operate an online portal through customers can access a range of tools, products, and resources.

Ultimate Software primarily sells and markets its products through an in-house direct sales force, comprising dedicated sales personnel, business development vice presidents, directors and managers organised by geographic region. The Company’s sales teams deal directly with clients through on-site visits, phone-based sales calls, and web demonstrations. Ultimate Software’s sales and marketing personnel operate out of its offices across the US, Canada, the UK, and Singapore.

Additionally, Ultimate Software makes sales through a network of channel partners, including resellers, sales agents, independent software vendor, and systems integrators.

Customer Relationships

Ultimate Software does not sell products and services to customers on a self-service basis. It does, however, operate an online portal through which customers can access a range of tools, resources, and functionality without interacting with members of the Company’s sales or service teams.

Ultimate Software principally sells its products through its in-house sales teams, the members of which consult closely with clients in order to provide appropriate solutions. The Company’s sales managers work alongside application and technical sales consultants to analyse the individual needs of prospective clients, with the Company able to tailor their service offerings where possible. The Company seeks to secure longstanding relationships, with service contracts often extending into multiple years.

Ultimate Software offers ongoing support to its customers, who are able to contact the Company’s technical support teams over the phone or via an online contact form and receive personalised assistance. The Company also provides a range of online resources – such as whitepapers, case studies, infographics, and podcasts – which can be accessed independently.

Additionally, Ultimate Software operates a number of social media accounts – including with Facebook, Twitter, LinkedIn, YouTube, Google+, and Pinterest – through which it is able to interact directly with clients.

Key Activities

Ultimate Software is a software company. It provides a range of cloud-based human capital management solutions to corporate, commercial, and institutional clients across multiple industries. The Company's core offering is its UltiPro product suite and platform, through which clients can access human resources, payroll, and benefits management tools, as well as global people management functionality.

The Company’s flagship offering is available in more than 10 languages with approximately 40 country-specific localisations. Ultimate Software is based in the US, and principally serves clients across North America. It also has clients across Europe and Asia Pacific. The Company maintains offices across the US, Canada, the UK, and Singapore.

Key Partners

Ultimate Software works closely with a network of partner companies and organisations in the development and delivery of its various products and solutions. These partners can be organised broadly into the following categories:

  • Channel and Distribution Partners, comprising the Company’s network of sales and marketing partners, including resellers, independent software vendors, and independent sales agents;
  • Service Partners, comprising a range of professional services providers that assist in extending and deploying the Company’s solutions for clients, including offering pre-implementation planning, and project and change management services;
  • Solutions Partners, comprising a range of companies with which the Company collaborates in developing integrated solutions and service offerings that enhance the functionality of the Company’s core offerings; and
  • Strategic and Alliance Partners, comprising a range of market leading companies with which the Company collaborates on a range of joint projects, including in marketing, development, and branding.

Ultimate Software lists a number of its partners on its website. This includes solutions partners Intuit, Okta, Ping Identity, and Netsuite; and services partners HRS Consultants, KnowledgeSource, Talus Solutions group, and Laurus Strategies.

Key Resources

Ultimate Software’s key resources are its proprietary technologies and intellectual properties, its IT and communications infrastructure, its sales and distribution channels, its partnerships, and its personnel.

Ultimate Software’s success is dependent, in part, on its ability to protect its various proprietary technologies, which it uses in the development and implementation of its solutions. The Company relies on a combination of copyright, trademark and trade secret laws, as well as confidentiality agreements and licensing arrangements, to establish and protect our proprietary rights. Searches of records published by the US Patent and Trademark Office identified no patent applications filed in Ultimate Software’s name.

Ultimate Software also owns and or leases a number of physical properties around the world. These properties principally comprise the Company’s network of sales and administrative offices across North America, Europe, and Asia Pacific.

Cost Structure

Ultimate Software incurs costs in relation to the development of its software solutions and proprietary technologies, the maintenance of its IT and communications infrastructure, the procurement of professional services, the management of its partnerships, the implementation of marketing and advertising campaigns, and the retention of its personnel.

In 2016 Ultimate Software recorded total operating costs in the amount of $439.50 million. This comprised sales and marketing expenses in the amount of $224.42 million, research and development expenses in the amount of $120.65 million, and general and administrative expenses in the amount of $94.43 million.

Revenue Streams

Ultimate Software generates revenue through the development and delivery of human capital management software solutions for corporate, commercial, and institutional clients. The Company derives its revenue primarily under sales and service contracts agreed on a client-by-client basis.

In 2016 Ultimate Software generated revenue for the year in the amount of $781.29 million, up on the $618.08 million recorded by the Company in 2015. The bulk of this revenue, around $654.20 million, was recorded s recurring revenue, while the remaining 127.09 was recorded as services revenue.

Our team

Scott Scherr,
Founder, President, Chairman and Chief Executive Officer

info: Scott has served as President of Ultimate Software since co-founding the Company in 1996 and has been the Company’s Chairman of the Board and Chief Executive Officer since later that same year. He is also a member of the Executive Committee of the Board of Directors. Scott Scherr oversees the overall strategic direction of the Company and serves as its key decision maker. Scherr is an experienced executive, having spent the bulk of his career in senior leadership positions at Ultimate Software. Prior to co-founding Ultimate Software, Scott Scherr was a long-serving employee at ADP, where he held various positions, including spells as Vice President of Operations and Sales Executive, from 1979 until 1990.

Marc Scherr,
Vice Chairman and Chief Operating Officer

info: Marc has been a member of the Board of Directors at Ultimate Software since its inception, and has served as the Company’s Vice Chairman since 1998 and as its Chief Operating Officer since 2003. He is also a member of the Executive Committee of the Board. Scherr is responsible for overseeing much of the day-to-day running of the Company. Scott Scherr is a lawyer by training. In his early career, he was a partner in the Boston law firm of Fine and Ambrogne for a number of years, following which he served as a real estate pension fund advisor at Aldrich, Eastman and Waltch from 1990 to 1992. He is also a former director of Gerschel and Co, and was a co-founder and general partner of Residential Company of America.

Mitchell Dauerman,
Executive Vice President, Treasurer, and Chief Financial Officer

info: Mitchell has served as Executive Vice President of Ultimate Software since 1998 and has been the Company’s Chief Financial Officer and Treasurer since 1996. Dauerman is responsible for leading the Company’s various financial functions, including the operations of its internal audit, accounting, and investor relations units. Dauerman is a Certified Public Accountant. Prior to joining Ultimate Software, Dauerman was a long-serving employee of KPMG, where he served in a number of roles from 1979 to 1996, including a spell from 1988 as a Partner.

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