PayNW Expands Footprint and Strengthens Human Capital Management Services with Renewal Acquisition

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Partial acquisition of TennesseeNew York-based company bolsters PayNW’s suite of business offerings and expands reach beyond the Pacific Northwest

SEATTLE , June 16, 2022 /PRNewswire/ — PayNW, a leading provider of human capital management (HCM) software and services, announced the acquisition of the HCM division of Renewal, a payroll and benefits company. The acquisition highlights the continued growth of the Seattle– headquartered in PayNW with its first physical presence outside of the Pacific Northwest.

Resulting in an enhanced offering for current and new customers, the acquisition expands PayNW’s product offering with a new benefits partnership as well as the payroll and HCM side of renewal. As part of the acquisition, PayNW will open an office in Chattanooga, Tenn. Renewal will continue to focus on its group insurance business, including a partnership with PayNW for all mutual customers going forward.

PayNW’s unified payroll, time tracking and human resource information system (HRIS) software and services provide simple and effective solutions for managing a workforce, bringing peace of mind to more of 1,000 companies around the world. United States providing the depth and breadth needed to manage and engage their workforce more effectively and productively.

“Through this acquisition, we are proud to expand our physical footprint and strengthen our services,” said PayNW CEO. Lori Brown. “We have had great admiration for the work Renewal has done in payroll and benefits and are thrilled to partner with their smart and innovative team. This news is a major win for PayNW, a win for Renewal , and – most importantly – a win for our customers.”

“We are excited about the opportunity for our customers to gain a greater depth of payroll and HCM resources and experience with PayNW while maintaining the level of service and accessibility offered by a service provider. relatively smaller payroll and HCM,” said Renewal Partner Dylan Honeycutt. “PayNW seemed like the perfect fit for our customers – as a UKG Ready partner, our customers keep their existing platform and setup while gaining expertise and resources. We’re excited to focus more specifically on our group insurance business and continue partnership with PayNW on payroll and HCM services.”

As the largest HCM company in the Pacific Northwest, PayNW’s track record includes a 96% year-over-year customer retention rate, four consecutive years on the Inc. 5000 list of private companies at the fastest growing in the United States, and a distinction as a Kronos Premier supplier.

About PayNW
PayNW brings clarity and peace of mind to midsize and growing businesses who see the smart use of technology as a way to become a better, more productive employer. No more chaotic spreadsheets or unrelated databases, our payroll, time tracking and HRIS software and services provide simple and effective solutions to your organization’s needs. Based at Seattle, PayNW was founded in 2007 on evergreen principles to be a company that thrives and endures, operating with the vision and intent to be around for over 100 years. For more information, visit PayNW online at www.paynw.com.

About Renewal
Renewal is a group benefits brokerage and consulting firm, providing health, dental, vision and auxiliary insurance products and technology to businesses with primarily 50 to 2,000 employees. The company prioritizes creative solutions and modern technology to both optimize how bonuses are spent and streamline the rollout of employee benefits for its clients. Renewal specializes in converting fully insured groups to fully and partially self-funded options, developing multi-year strategies to help combat the routine of surprise year-over-year renewal cost increases that seem out of control and helping to provide increased visibility to employers looking to better understand how their bonuses are being spent. For more information, visit Renewal online at www.renewal.is.

Media Contact
Kyle’s Wall from Fearey for PayNW
[email protected] / (570) 575-3405

SOURCE PayNW

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