ADP® , a global leader in HR and payroll solutions, today announced that it has acquired Pequity, an innovative compensation management software provider founded in 2019. This acquisition will broaden the tools ADP offers to support the complex compensation planning needs of its mid-size, enterprise and multinational clients.
"From changing pay transparency laws and regulations to the growing need for deeper insights and analytics, employers today need flexible compensation solutions to help them address the dynamic talent market and make informed pay decisions," said Sreeni Kutam, president of Global Product and Innovation at ADP. "We are excited to welcome the Pequity team to ADP and will leverage the deep expertise across both teams to further innovate and address the evolving compensation management landscape."
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Pequity's flexible configurations, AI-enhanced insights, budgeting and scenario planning tools, and HCM ecosystem integrations will broaden the compensation management capabilities ADP offers to support the needs of its enterprise and global clients.
Pequity offers a new class of compensation management software that combines the familiarity and ease of use of a spreadsheet with the power of automation at scale, making it easier for employers to effectively manage their compensation programs.
"The Pequity team is thrilled to join ADP," said Kaitlyn Knopp, CEO and co-founder of Pequity. "Pequity was founded with the goal of enabling better pay decisions and simplifying the compensation process. Now, with the extensive expertise, resources and global reach of ADP, we can continue to drive the future of compensation management innovation at scale."
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Source: PRNewswire
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