{"id":615,"date":"2024-06-26T15:28:19","date_gmt":"2024-06-26T22:28:19","guid":{"rendered":"https:\/\/embedded.gusto.com\/blog\/?p=615"},"modified":"2024-06-26T15:55:22","modified_gmt":"2024-06-26T22:55:22","slug":"hr-tech-payroll-apis","status":"publish","type":"post","link":"https:\/\/embedded.gusto.com\/blog\/hr-tech-payroll-apis\/","title":{"rendered":"The Future of HR Tech: Payroll APIs Open New Opportunities"},"content":{"rendered":"<p><span style=\"font-weight: 400\">HR Technology is one of the fastest-growing business-to-business (B2B) technology segments. Statista predicts annual revenue will grow <\/span><a href=\"https:\/\/www.statista.com\/study\/85007\/hr-tech\/\"><span style=\"font-weight: 400\">from USD 62.6 billion in 2022 to USD 91.8 billion by 2026<\/span><\/a><span style=\"font-weight: 400\">. One major factor contributing to this growth is the rise of payroll APIs, which allow HR Tech companies to build value-added services like payroll and benefits alongside core HR functionality like performance reviews, time-off tracking, and onboarding.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Generally speaking, Human Resources Information Systems (HRIS) have a few options when deciding how to incorporate financial services like payroll or spend management within their applications:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Build it themselves<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Set up a referral and integration partnership with a trusted brand<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Use APIs to embed the additional functionality directly within their own offering\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">While this article focuses primarily on embedded finance within HR tech or HRIS tools, the other options are also worth examining. Referral and integration partnerships are generally the easiest to set up but offer a more disjointed experience (including multiple logins), while building the service internally frequently involves a long build time, onerous regulatory compliance measures (like state money transmittal licenses), and ongoing support and development. In the middle of these two options sits embedded finance, the best of both worlds.<\/span><\/p>\n<h3><span style=\"font-weight: 400\">The rise of HR Tech Platforms and Payroll APIs<\/span><\/h3>\n<p style=\"text-align: center\"><em><span style=\"font-weight: 400\">\u201cIt\u2019s critical that the systems our customers use all talk together. From insurance billing to bookkeeping to payroll to taxes. It needs to be easy, and customers need to know they are paying themselves correctly, reporting taxes correctly and accurately each quarter.\u201d<\/span><\/em><\/p>\n<p style=\"text-align: center\"><em><span style=\"font-weight: 400\">Victoria Li, Co-founder and CTO, Heard<\/span><\/em><\/p>\n<p style=\"text-align: center\"><em><span style=\"font-weight: 400\">Read the full case study <\/span><a href=\"https:\/\/embedded.gusto.com\/blog\/heard-embedded-payroll-streamlining-therapist-finances\/\"><span style=\"font-weight: 400\">here<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/em><\/p>\n<p><span style=\"font-weight: 400\">SMBs&#8217; preferences drive the shift towards embedded financial services APIs. <\/span><a href=\"https:\/\/embedded.gusto.com\/blog\/?post_type=post&amp;p=325\"><span style=\"font-weight: 400\">According to our prior research<\/span><\/a><span style=\"font-weight: 400\">, 70% of SMBs are likely to switch to payroll software that offers all-in-one vertical SaaS solutions. SMBs favor applications tailored to their industry by experts, seeking to simplify processes with fewer providers and better industry-specific compliance. Likewise, many HR tech platforms focus on specific industries and serve as hybrid HR tech and vertical SaaS solutions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">HR tech platforms can capitalize on this by embedding fintech products like payroll, which improve customer retention and revenue. Companies like Heard have demonstrated significant revenue growth through embedded payroll. By providing financial management tools for therapists, Heard increased <\/span><a href=\"https:\/\/gusto.docsend.com\/view\/8vgyerrjpiguhn4b\"><span style=\"font-weight: 400\">revenue by 25% while reducing churn<\/span><\/a><span style=\"font-weight: 400\">. This strategy positions vertical SaaS providers to meet specific industry needs, offering streamlined, comprehensive solutions that drive customer satisfaction and business growth.<\/span><\/p>\n<p><span style=\"font-weight: 400\">But it\u2019s not just payroll\u2014according to <\/span><a href=\"https:\/\/www.bcg.com\/publications\/2022\/billion-dollar-opportunity-in-hr-technology\"><span style=\"font-weight: 400\">a BCG report on HR Tech<\/span><\/a><span style=\"font-weight: 400\">, businesses want consolidation across all the HR tools they use, with \u201ca staggering 94% of HR decision makers [struggling] to keep up with the latest technology trends and developments. [&#8230;] There is significant confusion in the market.\u201d<\/span><\/p>\n<h2><a href=\"https:\/\/embedded.gusto.com\/blog\/payroll-api-what-it-is-how-embedded-payroll-is-different\/\"><span style=\"font-weight: 400\">Integration vs Embedded Payroll APIs: Understanding the Difference<\/span><\/a><\/h2>\n<p><span style=\"font-weight: 400\">Integration APIs let companies automate payroll tasks and add payroll features to existing HR tools. This means that salary data can be easily accessed on different platforms, giving users more options and up-to-date information in realtime. While employers may need to log in to multiple systems, information is shared between them to, among other things, reduce data entry errors.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Embedded payroll APls, on the other hand, integrate all of the payroll functions right into the Human Resources Information System (HRIS). Unlike integration APIs that share data between different systems, embedded payroll integrates payroll functionalities alongside other tasks like accounting and time tracking together on one platform rather than switching between different systems.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">\u00a0 <img decoding=\"async\" class=\"alignnone wp-image-499 size-large lazyload\" data-src=\"https:\/\/embeddedblog.wpengine.com\/wp-content\/uploads\/2023\/12\/GUSTO-quote-1200x1200-05-1-630x630.jpg\" alt=\"&quot;I start from a lens of: what is the best experience that can be delivered to a customer?&quot; Jack Altman, Co-Founder and CEO of Lattice\" width=\"630\" height=\"630\" data-srcset=\"https:\/\/embeddedblog.wpengine.com\/wp-content\/uploads\/2023\/12\/GUSTO-quote-1200x1200-05-1-630x630.jpg 630w, https:\/\/embeddedblog.wpengine.com\/wp-content\/uploads\/2023\/12\/GUSTO-quote-1200x1200-05-1-300x300.jpg 300w, https:\/\/embeddedblog.wpengine.com\/wp-content\/uploads\/2023\/12\/GUSTO-quote-1200x1200-05-1-150x150.jpg 150w, https:\/\/embeddedblog.wpengine.com\/wp-content\/uploads\/2023\/12\/GUSTO-quote-1200x1200-05-1-768x768.jpg 768w, https:\/\/embeddedblog.wpengine.com\/wp-content\/uploads\/2023\/12\/GUSTO-quote-1200x1200-05-1-1536x1536.jpg 1536w, https:\/\/embeddedblog.wpengine.com\/wp-content\/uploads\/2023\/12\/GUSTO-quote-1200x1200-05-1-2048x2048.jpg 2048w, https:\/\/embeddedblog.wpengine.com\/wp-content\/uploads\/2023\/12\/GUSTO-quote-1200x1200-05-1-1400x1400.jpg 1400w\" data-sizes=\"(max-width: 630px) 100vw, 630px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 630px; --smush-placeholder-aspect-ratio: 630\/630;\" \/><\/span><\/p>\n<p style=\"text-align: center\"><em><span style=\"font-weight: 400\">Listen to the full episode <\/span><a href=\"https:\/\/embedded.gusto.com\/blog\/hr-tech-evolution-prioritizing-the-user-experience\/\"><span style=\"font-weight: 400\">here<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/em><\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"font-weight: 400\">Embedded Payroll APIs and Modern HRIS<\/span><\/h3>\n<p><span style=\"font-weight: 400\">Embedded fintech services like payroll are not only a growth driver among existing customers of an HRIS application but also a key customer acquisition strategy. <\/span><a href=\"https:\/\/www.pwc.com\/us\/en\/tech-effect\/cloud\/hr-tech-survey.html\"><span style=\"font-weight: 400\">According to a study by PwC<\/span><\/a><span style=\"font-weight: 400\">, 36% of HR leaders surveyed said, \u201cIt\u2019s somewhat or very likely that they\u2019ll switch [HRIS] vendors at the end of the subscription term.\u201d And the reason why? 27% cited \u201cintegration with other technology solutions.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Embedded payroll offers an all-in-one solution, reducing the workload for administrators and providing a smooth user experience. This is particularly beneficial for small- to medium-sized businesses. Embedded payroll streamlines the entire process by allowing you to handle everything in one place, including onboarding employees, offering insurance, recording time off and accrued hours, and running payroll.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Notably, HR Tech often overlaps with vertical SaaS when companies build HR tools for specific industries. This overlap is common in highly regulated industries, like healthcare, though many vSaaS products include some form of team management. For instance, <\/span><a href=\"https:\/\/www.archy.com\/features-pages\/manage-a-productive-team#Payroll\"><span style=\"font-weight: 400\">Archy, an<\/span><span style=\"font-weight: 400\"> all-in-one practice management<\/span><\/a><span style=\"font-weight: 400\"> software for dentists, integrated Gusto Embedded Payroll into its software, allowing users to manage their entire operations from a single platform and run payroll with one click. Leveraging this integration, they\u2019re able to:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Effortlessly calculate salaries, wages, and overtime, file taxes, process direct deposits, and generate W-2s.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Easily pay providers based on a percentage of billed hours or procedures.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Let employees log hours seamlessly. Admins can process payroll with a single click, eliminating manual calculations, manual data entry, or separate third-party software.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: center\"><em><span style=\"font-weight: 400\">\u200b\u200b<\/span><\/em><em><span style=\"font-weight: 400\">\u201cOur focus has always been to build time-saving solutions for dental practices. Integrating payroll directly into Archy is not just an innovative move; it makes Archy the only practice management software that offers payroll directly within the software that practices use every day.\u201d<\/span><\/em><\/p>\n<p style=\"text-align: center\"><em><span style=\"font-weight: 400\">Jonathan Rat CEO, Archy<\/span><\/em><\/p>\n<p style=\"text-align: center\"><em><span style=\"font-weight: 400\">Read the full press release <\/span><a href=\"https:\/\/www.dentistryiq.com\/press-release?pr=archy-selects-gusto-as-its-official-payroll-partner-1694183252\"><span style=\"font-weight: 400\">here<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/em><\/p>\n<h2><span style=\"font-weight: 400\">Understanding Payroll APIs<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Integration Payroll APIs (Application Programming Interfaces) are sets of protocols and tools that enable software applications to connect and communicate with payroll processing services. Unlike embedded payroll, a payroll integration allows different tools to share data, but customers still need to login to multiple systems.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400\">Some of the key benefits of integrations include:<\/span><\/h3>\n<p><b>Flexibility:<\/b><span style=\"font-weight: 400\"> Payroll APIs are easily connected to current business tools, accounting software, and HR systems. This integration helps reduce the risk of payroll or data entry errors.<\/span><\/p>\n<p><b>Automation:<\/b><span style=\"font-weight: 400\"> Payroll APIs greatly lower the amount of work that needs to be done by hand by automating tasks like calculations and data entry. This automation speeds up the process and gives HR staff more time to work on more important tasks.<\/span><\/p>\n<p><b>Accuracy:<\/b><span style=\"font-weight: 400\"> Payroll APIs automate data synchronization, which reduces human error and makes sure that pay data is correct and up to date \u2013 important because inaccurate payrolls hurt employee satisfaction.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to Jack Altman, CEO and Co-founder of Lattice, the decision between integrating and embedding a financial service like a payroll API doesn\u2019t have to be mutually exclusive. \u201cI see it as in support of better options for customers and more choices. [&#8230;] trying to give the [largest] number of customers the integrations that matter most to them.\u201d\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400\">The Rise of Embedded Payroll APIs<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Many small and medium-sized businesses (SMBs) still rely on manual or outdated methods for managing their payroll. Some calculate payroll by hand, while others work with local accountants. However, as these SMBs continue to digitize their business management systems, they are increasingly turning to modern, purpose-built SaaS solutions that cater to their specific needs.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Embedded payroll solutions play a key role in this transition. By integrating comprehensive payroll functionality directly into the business software platforms these SMBs use, embedded payroll enhances the overall user experience.\u00a0<\/span><\/p>\n<p style=\"text-align: center\"><em><span style=\"font-weight: 400\">\u201cGusto Embedded Payroll gives us full control over the experience our customers see. It allows us to streamline the payroll process for our customers and, importantly, reduce distractions for them.\u201d<\/span><\/em><\/p>\n<p style=\"text-align: center\"><em><span style=\"font-weight: 400\">Uri Bar-Joseph, Co-founder and COO, Formations<\/span><\/em><\/p>\n<p style=\"text-align: center\"><em><span style=\"font-weight: 400\">Listen to the full episode <\/span><a href=\"https:\/\/embedded.gusto.com\/blog\/self-employed-financial-management-formations-ai-solution\/\"><span style=\"font-weight: 400\">here<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/em><\/p>\n<p><span style=\"font-weight: 400\">Statistics show that more and more people are choosing financial services embedded within the tools they already use. For example, <\/span><a href=\"https:\/\/finance.yahoo.com\/news\/embedded-finance-market-size-share-110800378.html?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAJ26o6mwBOmvVeUJqCxST145Brro2jNeAKLY-T-6lJhNyeK8trO2KluB0JrrASDwxrzjZITyJ3NRFP1oQ9rdIJr1zPxERIt0Mq0VCnhLMcLYUZhOmrr4ers0AK3pHKnQcY5wkIfXilh7KJwlyqsWAZfpdoWkmPcXJ84_hNbnWr4S#\"><span style=\"font-weight: 400\">the global embedded finance market<\/span><\/a><span style=\"font-weight: 400\">, including embedded payroll, was worth USD 82.48 billion in 2023. It&#8217;s projected to keep growing at a rate of 32.4% per year until 2032.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Businesses and HR departments can benefit from this increasing popularity. For starters, it makes the user experience smooth. Payroll tasks, like calculating wages, processing tax filings, and managing benefits, can be done by managers without having to switch between systems. This all-in-one approach makes things easier and reduces the risk of payroll errors.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Embedded Payroll APIs are Leading to All-in-One Integrated HR Platforms<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The trend in HR technology is moving towards comprehensive, all-in-one solutions. Integrated HR platforms, which combine various HR functions like hiring, payroll, benefits, performance management, and employee engagement, are becoming the new standard.<\/span><\/p>\n<p><span style=\"font-weight: 400\">For software companies, embedded payroll is a great way to offer more services. What\u2019s more, offering embedded payroll is a win-win-win for technology providers, their customers, and their customers\u2019 employees.\u00a0 These solutions offer a comprehensive approach to HR management, providing benefits across various metrics such as:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Higher annual contract value (ACV) \u2013 when embedded financial services are priced as add-ons<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Higher subscription tiers (MRR\/ ARR increase) \u2013 when payroll is packaged with other \u2018premium\u2019 features<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Higher lifetime value (LTV)\/ increasing the LTV-to-CAC \u2013 when payroll customers continue to subscribe longer than non-payroll customers because embedded financial services help fill a critical need in the organization<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">New customer acquisition \u2013 when payroll helps differentiate and convince new customers to sign up<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Supporting these insights, recent data from a survey of SaaS <\/span><span style=\"font-weight: 400\">leaders called <\/span><a href=\"https:\/\/embedded.gusto.com\/blog\/my-embedded-payroll-learnings-from-saas-3-with-spoton\/\"><i><span style=\"font-weight: 400\">SaaS 3.0: Beyond Subscription-based Revenue<\/span><\/i><\/a> <span style=\"font-weight: 400\">reveals several key trends;<\/span><\/p>\n<p><b>Adoption:<\/b><span style=\"font-weight: 400\"> Data indicates that when SaaS applications offer embedded payroll, an average of 71% of their customers utilize in-app payroll, the highest adoption rate among all categories surveyed.<\/span><\/p>\n<p><b>Revenue Realized:<\/b><span style=\"font-weight: 400\"> SaaS providers with embedded payroll report an average revenue increase of 41% of annual contract value (ACV) from payroll services.<\/span><\/p>\n<p><b>Future Growth:<\/b><span style=\"font-weight: 400\"> The report highlights that embedded payroll is the top priority roadmap item for SaaS 3.0 companies, surpassing other embedded finance categories for implementation within the next 12 months.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The data suggest that while revenue growth is the primary motivation for SaaS 3.0 companies offering payroll services, reducing churn is a significant driver specifically for embedded payroll compared to other embedded finance products.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Benefits of Consolidation into Integrated HR Platforms<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Consolidating HR functions into integrated platforms offers many benefits that traditional, segmented systems cannot match. Put another way, embedded finance \u201cbrings these services directly to customers within the context of their existing digital experience with a particular brand or digital platform, reducing friction and enhancing end-user convenience,\u201d <\/span><a href=\"https:\/\/www.pwc.com\/gx\/en\/issues\/technology\/tech-translated-embedded-finance.html\"><span style=\"font-weight: 400\">says Eug\u00e9nie Krijnsen, PwC\u2019s Global Financial Services Advisory Leader<\/span><\/a><span style=\"font-weight: 400\">. Here are some of the key advantages:<\/span><\/p>\n<p><b>Streamlined Operations<\/b><span style=\"font-weight: 400\">: Integrating various HR functions into a single platform simplifies administration and saves time. This centralization eliminates the need for multiple logins and interfaces so that HR teams can handle everything from payroll to feedback reviews to compliance all in one place.<\/span><\/p>\n<p><b>Cost Efficiency<\/b><span style=\"font-weight: 400\">: Integrated HR systems save money by eliminating the need for multiple software programs. This significantly reduces the costs of subscriptions and training. A simplified system can also save money in the long run by eliminating unnecessary parts and making operations more efficient.<\/span><\/p>\n<p><b>Improved Data Accuracy<\/b><span style=\"font-weight: 400\">: Integrated platforms reduce mistakes when people enter data by hand or use different systems by combining data from other HR processes.\u00a0<\/span><\/p>\n<p><b>Enhanced Data Security<\/b><span style=\"font-weight: 400\">: Integrated HR systems use strong security methods to keep private information about employees safe. Data breaches and corporate fraud are less likely to happen when you use advanced encryption and central data management.<\/span><\/p>\n<p><b>Better Compliance Management<\/b><span style=\"font-weight: 400\">: Integrated platforms automatically update and manage compliance with local, national, and international regulations. This simplifies compliance and reduces the risks of penalties and legal complications.<\/span><\/p>\n<p><span style=\"font-weight: 400\">For more insights on how embedded payroll and other embedded HR tools transform HR technology, listen to <\/span><a href=\"https:\/\/embedded.gusto.com\/blog\/hr-tech-evolution-prioritizing-the-user-experience\/\"><span style=\"font-weight: 400\">HR Tech Evolution: Creating Platforms that Prioritize Adaptability and User Experience with Jack Altman<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><b>Real-Time Insights and Reporting<\/b><span style=\"font-weight: 400\">: These systems provide complete tools for reporting and analytics, which helps make strategic decisions based on real-time data. Industry reports say that <\/span><a href=\"https:\/\/www.g2.com\/articles\/human-resources-hr-trends-2019\"><span style=\"font-weight: 400\">80% of HR workers<\/span><\/a><span style=\"font-weight: 400\"> think investing in HR technology has improved efficiency.<\/span><\/p>\n<p><b>Personalized Employee Experience<\/b><span style=\"font-weight: 400\">: Integrated systems let you change how employees interact with the system, which makes them more engaged and happy. It&#8217;s easy for employees to access their information, benefits, and job reviews, contributing to a better work experience.<\/span><\/p>\n<p><b>Scalability<\/b><span style=\"font-weight: 400\">: Integrated HR platforms easily adapt to a business&#8217;s growth, supporting an increasing number of users and more complex organizational structures without significant additional investments.<\/span><\/p>\n<p><b>Enhanced Employee Self-Service<\/b><span style=\"font-weight: 400\">: These systems allow workers to manage their personal information, benefits, and other HR-related chores. This self-service feature not only makes things easier for users but also frees up HR staff to work on more important tasks.<\/span><\/p>\n<p><b>Greater Integration with External Tools<\/b><span style=\"font-weight: 400\">: Integrated platforms seamlessly connect with other business applications and external systems. Whether it&#8217;s accounting software or project management tools, these integrations ensure consistent and uninterrupted workflows.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400\">Conclusion<\/span><\/h2>\n<p style=\"text-align: center\"><em><span style=\"font-weight: 400\">\u201cBuilding payroll at a national scale requires deep knowledge and understanding. With Gusto Embedded, we are able to decrease the time to offer a leading payroll service while increasing the value we\u2019re able to deliver to our customers.\u201d<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\">Jessica Young<\/span><\/em><\/p>\n<p style=\"text-align: center\"><em><span style=\"font-weight: 400\">MD &amp; Head of Product, Chase Payment Solutions<\/span><\/em><\/p>\n<p><span style=\"font-weight: 400\">Offering embedded financial services like payroll empowers your SMB customers with streamlined HR and finance workflows, enhanced user experiences, and greater convenience. These services differentiate your software and unlock new revenue streams through larger deal sizes and higher retention. By seamlessly integrating payroll, you position your platform as an essential, all-in-one solution for SMBs.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The opportunity for a seamless, all-in-one HRIS tool is certainly there today and only growing. <\/span><a href=\"https:\/\/www.gartner.com\/en\/newsroom\/press-releases\/2024-06-13-gartner-survey-reveals-only-24-percent-of-hr-functions-are-maximizing-the-business-value-from-hr-technology\"><span style=\"font-weight: 400\">According to a recent Gartner survey<\/span><\/a><span style=\"font-weight: 400\">, just 24% of surveyed HR leaders believe that their organization\u2019s HR function is deriving the maximum value from HR tech.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Small and Medium-sized Businesses (SMBs), in particular, are focused on reducing their tech stacks while achieving more from their foundational platforms. <\/span><a href=\"https:\/\/embedded.gusto.com\/blog\/the-case-for-embedded-payroll\/\"><span style=\"font-weight: 400\">Of the over 6 million small businesses in the United States, more than 2.5 million are using vertical SaaS solutions<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Explore how <\/span><a href=\"https:\/\/embedded.gusto.com\/\"><span style=\"font-weight: 400\">Gusto Embedded Payroll<\/span><\/a><span style=\"font-weight: 400\"> can help you deliver this transformative experience to your clients and drive long-term success for your business and theirs.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HR Technology is one of the fastest-growing business-to-business (B2B) technology segments. Statista predicts annual revenue will grow from USD 62.6&#8230;<\/p>\n","protected":false},"author":18,"featured_media":616,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-behind-the-paycheck"],"acf":{"exclude_from_embedded_resources":false,"popularity":0,"essentiality":0},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Future of HR Tech: Payroll APIs Open New Opportunities - Embedded Blog<\/title>\n<meta name=\"description\" content=\"Learn how HR technology solutions can leverage payroll APIs to deliver embedded payroll solutions to their customers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/embedded.gusto.com\/blog\/hr-tech-payroll-apis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Future of HR Tech: Payroll APIs Open New Opportunities - 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