Recruitmax acquires compensation management vendor InfoTechWorks

Recruitmax acquires compensation management vendor InfoTechWorks adding compensation planning and management to company’s suite of strategic Human Resource applications

Recruitmax, a global company in technology and services for building great workforces, today announced it has acquired InfoTechWorks, a US -based provider of compensation management software and consulting services.

Founded in 1997, InfoTechWorks provides compensation and incentive planning and management solutions to more than 80 customers. The company’s flagship offering, HRForte, is a suite of web-based applications with manager self-service compensation planning and management functionality for budgeting and delivering merit increases, promotions, equity adjustments and cash incentives. InfoTechWorks’ customers include Liberty Mutual, Novartis, Siemens, Safeco and Northwest Mutual, among others.

According to industry analyst firm META Group, compensation management solutions are used by 79 per cent of respondents. However, many of the solutions in place are not best-of-breed solutions, which means compensation management is frequently relegated to spreadsheets and homegrown applications. As a result, most companies do not yet have the tools in place to fully manage their highest expense line - workforce compensation - creating a large market opportunity for vendors such as Recruitmax.

Jamie Davis, Recruitmax vice president of corporate business development stated, Having a robust compensation management solution that enables an organisation to have better visibility and control of workforce pay and performance investments is critical. Our acquisition of InfoTechWorks is a logical addition to our growing suite of HR applications and one we made in response to customer demand. He continued, This talent rich executive team brings more than 60 years of combined experience in consulting, developing and delivering innovative compensation planning and management applications - with experience at leading HR consulting firms including Hewitt and Mercer. Our respective development teams are working closely to ensure a market-ready solution under the Recruitmax brand.

Barry Maclean, InfoTechWorks president said, Recruitmax is an acknowledged leader in workforce management applications, especially in recruiting and onboarding. Our compensation planning functionality further extends Recruitmax’s Impact product, which incorporates the performance management assets of the KnowledgePoint acquisition. We’re looking forward to becoming an integral part of the Recruitmax family.

Derek Mercer, founder and CEO of Recruitmax, commented, Our acquisition of InfoTechWorks comes on the heels of another record year for Recruitmax. We’ve already proven how quickly and efficiently we were able to integrate the KnowledgePoint acquisition - evidenced by the successful launch of our award-winning performance management application earlier this year. With the acquisition of InfoTechWorks, Recruitmax moves even closer to our goal of providing a complete best-of-breed suite of workforce management solutions that help our customers differentiate themselves through their people.