−Removed: Asure is a provider of cloud-based Human Capital Management (“HCM”) software and services, delivered as Software-as-a-Service (“SaaS”) for small and medium-sized businesses (“SMBs”).
−Removed: We offer the human resource (“HR”) tools necessary to build a thriving workforce, providing the resources to stay compliant with dynamic federal, state, and local tax jurisdictions and their respective labor laws, freeing cash flows so they can spend their financial capital on growing their businesses rather than administrative overhead that can impede growth.
+Added: Asure is a provider of cloud-based Human Capital Management (“HCM”) software solutions delivered as Software-as-a-Service (“SaaS”) for small and medium-sized businesses (“SMBs”).
+Added: We offer human resources (“HR”) tools necessary to build a thriving workforce, providing the resources to stay compliant with dynamic federal, state, and local tax jurisdictions and their respective labor laws, freeing cash flows so SMBs can spend their financial capital on growing their businesses rather than administrative overhead that can impede growth.
Our solutions also provide new ways for employers to connect with and to differentiate themselves with their employees in order to enhance their relationships with their talent.
−Removed: Asure’s HCM suite (“AsureHCM”) includes Payroll & Tax solutions, HR compliance and services, Time & Attendance software and data integrations that enable employers and their employees to enhance efficiencies and take advantage of value-added solutions.
+Added: Asure’s HCM suite (“Asure HCM”) includes Payroll & Tax solutions, HR compliance and services, Time & Attendance software and data integrations that enable employers and their employees to enhance efficiencies and take advantage of value-added solutions, which we refer to as AsureMarketplace™.
+Added: AsureMarketplace™ automates interactions between our HCM systems with third-party providers to enhance efficiency, improve accuracy and to extend the range of services offered to employers and their employees.
+Added: Our approach to HR compliance services incorporates artificial intelligence technology to enhance scalability and efficiency while prioritizing client interactions.
We offer these services directly and indirectly through our network of Reseller Partners.
From recruitment to retirement, our solutions help more than 100,000 SMBs across the United States.
−Removed: Approximately 15,000 of our clients are direct and the 85,000 remaining clients are indirect, as they have contracts with Reseller Partners who white label our solutions.
+Added: Approximately 15% of our clients are direct with the remaining balance indirect, as they have contracts with Reseller Partners who white label our solutions.
We strive to be the most trusted HCM resource to SMBs.
4 unchanged sentences
We have and will continue to invest in research and development to expand our solutions.
−Removed: Our solutions reduce the administrative burden on employers and increases employee productivity while managing the employment lifecycle.
+Added: Our solutions reduce the administrative burden on employers and increase employee productivity while managing the employment lifecycle.
+Added: The Asure HCM suite includes five product lines:
+Added: Asure Payroll & Tax, Asure Tax Management Solutions, Asure Time & Attendance, Asure HR Compliance, and AsureMarketplace™.
We were incorporated in 1985 as a Delaware corporation and our principal executive offices are located at 405 Colorado Street, Suite 1800, Austin, Texas 78701.
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Business applications can include income verification and earned wage access.
−Removed: We are currently developing consumer applications and expect such applications to be a component of the marketplace in the future.
+Added: We are currently developing consumer applications and expect such applications to be a component of AsureMarketplace™ in the future.
PRODUCT DEVELOPMENT
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We seek to simultaneously allow organizations to improve their productivity while reducing the costs associated with those tasks.
−Removed: Asure is particularly focused on developing product capabilities that involve the movement and reconciliation of money.
+Added: We are particularly focused on developing product capabilities that involve the movement and reconciliation of money.
We plan to enhance our Treasury Management software position, which we expect to leverage macro trends in the payroll industry including same-day-pay, pay advances, and employee payments in the currency of their choice – including crypto currencies.
33 unchanged sentences
Our competitors range from regional payroll companies to large, well-established companies with multiple product offerings.
−Removed: Competition in the HCM market is primarily based on product and service quality and reputation, scope of service, application offering and price.
+Added: Competition in the HCM market is based on product and service quality and reputation, scope of service, application offering and price.
Price tends to be the most important factor of competition for our small business clients with fewer employees, while the range of features, implementation, and scalability is more important to our clients with larger businesses.
1 unchanged sentence
Many providers continue to deliver legacy enterprise software, but there is increased competition in the delivery of HCM cloud-based solutions by other SaaS providers.
−Removed: Competitors in the HCM market tend to fluctuate, however, Asure’s main competitors are ADP, Paychex, UKG, Paylocity, Paycor, Paycom, Ceridian, Namely, and Gusto.
+Added: Competitors in the HCM market tend to fluctuate, however, Asure’s main competitors are ADP, Paychex, UKG, Paylocity, Paycor, Paycom, Ceridian, isolved, and Gusto.
Primary competitors to Asure Time & Attendance include UKG, Paychex, ADP and Time Simplicity.
29 unchanged sentences
We collect and process the personal and sensitive information of clients, clients of our Reseller Partners, employees of our clients and Reseller Partners, vendors, and our own employees.
−Removed: In general, data that we process and store includes personally identifying information such as names, addresses, social security numbers, bank account information.
+Added: In general, data that we process and store includes personally identifying information such as names, addresses, social security numbers, and bank account information.
As part of our time and attendance products, data that we process and store includes biometric data.
3 unchanged sentences
Such state and federal laws include laws such as the California Consumer Privacy Act of 2018, as amended and the Illinois Biometric Information Privacy Act and rules and regulations promulgated under the Federal Trade Commission.
−Removed: Other states, including Colorado, Connecticut, Virginia, and Utah, have recently enacted new data privacy laws.
−Removed: The Virginia Consumer Data Protection Act became effective in January 2023.
−Removed: The remainder of the new legislation becomes effective mid to late 2023.
+Added: Other states, including Colorado (effective July 1, 2023), Connecticut (effective July 1, 2023), Delaware (effective January 1, 2025), Indiana, Iowa (effective January 1, 2025), Montana (effective October 1, 2024), New Jersey (effective January 15, 2025), Oregon (effective July 1, 2024), Tennessee (effective July 1, 2025), Texas (effective July 1, 2024), Utah (effective December 31, 2023), and Virginia (effective January 1, 2023) have recently enacted new data privacy laws.
These new laws track significant portions of existing laws but include differences that may or may not increase our compliance burden.
9 unchanged sentences
We are licensed as a payroll processor in jurisdictions requiring licensure of payroll processors.
−Removed: We pursue licensure as a money transmitter in jurisdictions that require payroll processors to be licensed under state money transmission laws.
−Removed: We are also planning to pursue money transmission licenses in jurisdictions that have not yet made a determination as to whether their money transmitter statutes apply to payroll processors.
+Added: We are licensed or are actively pursuing licensure as a money transmitter in jurisdictions that require payroll processors to be licensed under state money transmission laws.
Money transmission activities may be subject to anti-money laundering laws at the state and federal levels.
3 unchanged sentences
laws and regulations that apply to them, particularly in the human resources and employment law areas such as wage payment laws, state payroll tax filing and reporting, employee onboarding, and compliance with the IRS rules governing employers including tax withholdings, payroll tax filing and the preparation of Form W-2.
−Removed: Our HCM solutions assist clients with managing their compliance with other laws, including help to meet their obligations as a plan sponsor under COBRA;
+Added: Our HCM solutions assist clients with managing their compliance with other laws, including helping to meet their obligations as a plan sponsor under COBRA;
sponsor and administer compliant Flexible Spending Account Plans;
and provide compliant Consumer Health Care Plans, such as Health Savings Accounts and Health Reimbursement Accounts.
−Removed: Our Tax Management solutions also support bulk filing and processing of Employee Retention Tax credits, which is new legislation that is part of the CARES Act.
+Added: Our Tax Management Solutions also support bulk filing and processing of Employee Retention Tax Credits, which is legislation that is part of the CARES Act.
+Added: Recent legislation makes it possible that the government could make changes to or revoke the ERTC program prior to its scheduled expiration during 2024 and 2025, which may impact future revenue and cash collections.
We have registered Asure Software® as a federal trademark with the U.S.
Patent and Trademark Office.
−Removed: Asure’s other core federally registered trademarks include AsureForce®, AsureHCM® and Evolution®.
+Added: Asure’s other core federally registered trademarks include Asure®, AsureForce®, AsureHCM® and Evolution®.
As of December 31, 2023 , we had a total of 581 employees, 564 of which are full-time employees.
6 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.