Points North finishes 2023 with Record Revenue and New Client Acquisition

DULUTH, Minn. - Jan. 30, 2024 - PRLog -- Software company Points North achieved better-than-expected results across all product lines in fiscal year 2023, surpassing full-year expectations. New customer sales grew by 92% across all products, and record revenues were driven by a 36% increase in recurring revenue. As a continuation of midyear results, the company's strategic initiative to diversify demand through direct channels accelerated in the back half of 2023, as direct demand from marketing efforts, including SEO (Search Engine Optimization), soared by over 138% compared to the previous year. Partner revenue also showed strong growth, rising by 65% compared to 2022.  Client retention rates improved by 8% in 2023.

CEO Keith Pelatowski summarized 2023, "Our full-year results are a direct result of the key strategic initiatives created and planned for 2023, and our team's ability to execute together throughout the year. Our strong focus on attracting top talent across our expanded company structure drove productivity and responded to record demand from the market."

"Our success stems from listening closely to customers and continuously enhancing our offerings to solve their pain points," Keith continued, "We're proud that clients place their trust in us, and we strive to earn it daily through exceptional service and products."

This dedication is evident in Points North's launch of their first-of-its-kind Certified Payroll Reporting Full Service offering. This offering addresses client's needs for turnkey compliance support, including reporting, rate sourcing, and rate management. Adoption skyrocketed in 2023 as clients embraced this add-on to its market-leading software.

Furthermore, the product team for Certified Payroll Reporting and prevailing wage compliance deployed over 100 enhancements in 2023, reflecting dedication to client feedback and continuous value creation. Among the notable releases were improved pre-payroll calculations for prevailing wage and union pay use cases, the launch of a flexible and configurable importer for timekeeping data, and improvements to the system user interface. Improved job costing functionality and customized reporting are planned for release in the first half of 2024. The ACA Reporter product team also introduced key functionality during the 4^th quarter, preparing our clients for ACA filing season. The platform now performs automated notifications for critical alerts and data updates.

Poised for further growth, Points North expanded its talent base by recruiting 15 new employees for core roles, including new leadership, and actively seeks standouts to join its visionary team during a planned 2024 expansion. With the Q1 launch of an upgraded time and attendance platform, Attendance Advisor, Points North continues to meet the demands and needs of the US market.

http://www.points-north.com