Regional Payroll Services Bureau Reinvents Itself as National HR Software Provider
Pittsburgh, Pa., November 3, 2014 – Sentric, Inc., a national provider of cloud-based human resources software, moved today. And while companies move every day, the relocation of Sentric’s headquarters from Caste Village in Whitehall to Southpointe Office Park in Canonsburg, comes just three years after the 20-year-old company evolved its business model from a regional payroll service bureau to a national cloud-based HR software provider. The move is the culmination of multiple years of company growth.
“Our story is a little different than a lot of technology companies in the Pittsburgh region,” said Mike Maggs, co-founder and President, Sentric. “We’re more of an established start-up. We saw a lot of success as a payroll service bureau, but as the market changed – locally and nationally – we had to build on what we did well. So we did. We became a software company. We moved to the cloud. We went after a new buyer and added new capabilities beyond payroll. We grew our sales team, our marketing team, our product development team and we doubled down on service. And we finally outgrew our office space, which had been our home for nearly 20 years.”
Today, Sentric remains headquartered in Pittsburgh and has offices in Denver, Colo. and Huntington Beach, Calif. with customers in all 50 states. Sentric is anchored by its cloud-based human resource (HR) software, SentricWorkforce. SentricWorkforce gives HR managers all-in-one access to employee information, recruitment, performance, benefits administration, training, payroll, time & attendance, and HR reporting. This year alone, about 70 percent of all new revenue has come from this product.
In the last three years, Sentric staff has grown by more than 30 percent and is expected to grow by another 20 percent in 2015. After securing traditional financing from PNC in 2014, Sentric positioned itself for 60 percent growth over the next three years.
“Selling an HR product and service is fundamentally different than selling a pure payroll offering,” said Maggs. “It’s not all that dissimilar to the attention Pittsburgh gets for shifting from manufacturing to a knowledge based economy. We’re proud that we started out with a blue collar, entrepreneurial spirit and evolved into a national technology player without sacrificing what makes us, us – effortless to use software and amazing service from passionate people.”
Since starting out in payroll in 1994, Sentric has organically grown its customer base to 2,500 companies, including the Pittsburgh Pirates, the Pittsburgh Cultural Trust, Sarris Candies, and Seven Springs Mountain Resort. With a 93 percent client retention rate, and a 96 percent satisfaction rate, company leadership saw an opportunity to better service existing clients with a different offering that could build on Sentric’s core payroll experience.
Founded in 1994 and headquartered in Pittsburgh, PA, Sentric serves the middle market with cloud-based HR, attendance, talent management and payroll solutions. Our mission is to secure clients for life by ensuring software and service work together to solve real business problems. We think our high customer satisfaction and retention rates are pretty darn good, but we’re always improving. Learn more at www.sentric.net.