Biometrics, Advanced Tech Drive Swipeclock Acquisition

IRIS Software Group, a provider of accounting and payroll solutions, has announced the acquisition of Swipeclock, which provides workforce management solutions for small and medium-sized businesses in the U.S. The acquisition will see the integration of Swipeclock’s innovative technologies, including geofencing and facial recognition time tracking, into IRIS’ Human Capital Management (HCM) suite.

Jim Dunham, President and General Manager of IRIS Software Group Americas, emphasized the strategic value of Swipeclock, highlighting how its products, WorkforceHub and ApplicantStack, will augment IRIS’s capabilities.

“I’m so pleased to combine forces with a company like Swipeclock that is investing in the future of work and bringing core technologies like geofencing and facial recognition time tracking to market,” he said. “Together, we are making best-in-class product features available to businesses of all sizes.”

In announcing the acquisition, the companies emphasized that the workforce management landscape is becoming increasingly complex, driven by the rise of the gig economy, remote work, and flexible schedules. Companies are leveraging contractors to manage costs, and employees are seeking more project-based roles. This necessitates advanced technology for recruitment, payroll, time tracking, and attendance management. IRIS’ acquisition of Swipeclock is poised to address these challenges, providing a comprehensive solution to manage modern workforce complexities.

IRIS plans to infuse additional capital into Swipeclock to expedite its product roadmap, supporting over 1,300 partnerships and 45,000 customers. This will also facilitate the integration of Swipeclock’s offerings into IRIS’ HCM platforms, ensuring that small and medium-sized businesses have access to new workforce management solutions.

Swipeclock will continue to operate independently within IRIS Software Group, with fortified product development efforts supported by IRIS’ global team. The acquisition follows IRIS’ significant investment from LGP, a private equity firm, reflecting IRIS’ commitment to expanding its market-leading HCM solutions.

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May 15, 2024 – by Cass Kennedy