Company Research Report: Factorial
Company Overview
Name
Factorial
Mission of the Company
Factorial aims to revolutionize HR management by centralizing and streamlining various HR processes to free up time for businesses to focus on their people, not paperwork.
Founded and Founders
- Founded: 2016
- Founders: Jordi Romero, Bernat Farrero, and Pau Ramon
Key People
- CEO: Jordi Romero
- Head of North America: Peter Santis
- Head of Internal Communication: Edurne Vega
- Head of Inbound Marketing: Borja Prieto
- Content Marketing Specialist: Kylie Grant
Headquarters
- Primary Location: Miami, United States
- Other Offices: Spain, Mexico, Brazil
Number of Employees
- Total Employees: 950+
Revenue
No information is available
Known For
Factorial is known for providing customizable and easy-to-use Human Resource Management (HRM) software that automates time, payroll, talent, and finance processes. It simplifies HR management for businesses with comprehensive features ranging from time tracking to document management.
Products
Overview of Product Offerings
Factorial offers an all-in-one HR platform that centralizes various HR functions to improve efficiency and reduce administrative burdens. Below is a high-level description of key products and their features.
1. Time & Payroll Management
Description:
Manages employee time and payroll efficiently, allowing for smooth planning and integration.
Key Features:
- Employee time tracking with facial recognition, QR code, geofencing, mobile app, and desktop version
- Managing time-off requests and PTO accrual
- Shift management with flexibility
- Customized reporting capabilities
2. Talent Management
Description:
Automates recruitment processes and helps manage employee performance and development.
Key Features:
- Centralized recruitment portal
- Customizable job portal and forms
- Application tracking system (ATS) for managing the hiring process
3. Document Management
Description:
Centralized management of all company and employee documents.
Key Features:
- Secure document storage
- Digital signature capabilities
- Employee document management like contracts, payslips, and IDs
4. Finance
Description:
Streamlined financial processes related to HR operations.
Key Features:
- Payroll summaries
- Management of payroll incidences
- Expense management
5. Mobile App
Description:
Allows HR processes to be managed on the go via a mobile application.
Key Features:
- Time tracking and clock in/out system
- Leave requests and approvals
- Team absences visibility
- Real-time notifications and updates
Recent Developments
New Products Launched
- Expense Management Market Entry: Factorial recently expanded into the expense management market by acquiring YC-Backed Fuell.
New Features Added to Existing Products
- Advanced Time Tracking: Includes facial recognition and geofencing capabilities for better accuracy and security.
- Integration and Customization: With an open API, Factorial allows for custom integrations with other business applications, enhancing flexibility and usability.
New Partnerships
- Partnership with Cimplx: Enhanced payroll and benefits management through new strategic alliances.
- Collaboration with AUXO: Sharing key hiring strategies for startups to improve recruitment processes.
Conclusion
Factorial continues to innovate in the HR technology space by offering comprehensive and user-friendly solutions. With a mission focused on enhancing business efficiency by simplifying HR tasks, the company remains a key player in the HRM software market. Further developments and strategic partnerships indicate a robust growth trajectory, strengthening Factorial’s commitment to empowering teams and organizations globally.