Points North Drives Demand into Upmarket and Enterprise Segments with Record Revenue and New Client Acquisition for First Half of 2024

August 12^th, 2024 (St. Louis Park, MN) - Software company Points North achieved better-than-expected results across all product lines in the first half of fiscal year 2024, surpassing expectations. New customer sales grew by 33% across all products, and record revenues were driven by a 52% increase in recurring revenue. As a continuation of 2023 full year results, the company’s strategic initiative to diversify demand through direct channels accelerated in the first of 2024, as direct demand from marketing efforts, including SEO (Search Engine Optimization), soared by over 45% compared to the previous 6-month period in 2023. Partner revenue also showed strong growth, rising by 46% compared to 2023.

COO Jason Moen summarized the first six months of 2024, “Our 2024 results are a direct result of the key strategic initiatives created and planned for in 2024, and our teams’ ability to execute together throughout the first six months. Our strong focus on attracting top talent across our expanded company structure drove productivity and helped us respond to record demand from the market.”

Points North continues to differentiate its services with their ongoing delivery of the first-of-its-kind Certified Payroll Reporting Full Service option. This offering addresses client’s needs for turnkey compliance support, including reporting, rate sourcing, and rate management. The company also continued its expansion upmarket into the Enterprise specialty contractor segment, addressing the need for sophisticated compliance management within the prevailing wage segment. CEO Keith Pelatowski indicated, “We see a gap in the market for both software and service and will continue to innovate to address the enterprise client segment in 2024 and 2025.”

Furthermore, the product team for Certified Payroll Reporting and prevailing wage compliance deployed key enhancements, including its upgraded job costing module to address tracking and monitoring costs by project. The ACA Reporter product team also introduced key functionality during the second quarter. The software platform now performs expanded automated notifications for critical compliance alerts and data updates, keeping HR leaders aware of their compliance status with ACA legislation.

Poised for further growth, Points North expanded its talent base by recruiting ten new employees for key roles, including expanding its sales and implementation teams. Points North plans to further drive product innovation in the remaining months of 2024, including an expanded go-to-market launch with its attendance software, and further enhancements in the prevailing wage compliance space.

About Points North: Established in 1994, Points North has provided compliance solutions across all 50 states. Our solutions function as a bridge between payroll and benefit systems by streamlining the transfer of data. Our compliance, reporting, and time and attendance solutions are designed to help payroll and human resource leaders solve complex data issues, with the goal of improving workflows, saving time, and keeping clients focused on their strategic initiatives.