Tech: intelliHR is now live in $9.3 billion Xero’s marketplace
Link copied to
Accounting software tech giant Xero (ASX:XRO) has given small cap HR tech company intelliHR (ASX:IHR) a boost, integrating its payroll onboarding app.
Xero’s platform will use intelliHR’s new hire onboarding automation capabilities by adding new employee self-service functionality in Xero’s payroll system. It will allow new employees the ability to complete their own banking, digital tax and super forms as part of their onboarding process in intelliHR.
Xero’s decision to integrate intelliHR’s technology is a strong validation for the small cap HR software business, whose market cap of $11m pales in comparison to Xero’s $9.3 billion. It follows a successful live beta test process with intelliHR customers currently using Xero, and gives the company access to more Xero customers.
IHR shares got a 9 per cent boost on the news, to 7.1c.
The company sees itself as a middle man that can deliver improved performance, develop a values-led corporate culture, create a more rewarding workplace and improve staff retention by automating previously burdensome processes.
It is chasing further tie-ups with other software companies.
Xero is its biggest win to date, and intelliHR says the integration is expected to “increase intelliHR’s third party online lead-generation capabilities as well elevating intelliHR as a key consideration in a global marketplace”.
Family Zone Cyber Safety (ASX:FZO) undergoing transformation. The company announced a $4.8m equity raising, and also a new chairman in Peter Pawlowitsch, with existing directors John Sims and Sir Peter Westmacott resigning.
ApplyDirect (ASX:AD1) wins EPA contract. The fintech has secured a contract to provide its HR management system to the Environment Protection Authority Victoria.
Esports Mogul (ASX:ESH) launches new partnership. A tie-up with Wizards of the Coast, a division of Hasbro, will see Mogul launch a championship for Magic: The Gathering Arena, a popular strategy trading card game.