Preferred Payroll
Preferred Payroll provides cloud-based payroll, HR, talent management, workforce management, and tax credit services to small and medium businesses and CPA firms in the U.S., operating from four regional offices with integrated self-service portals.
- Company typePrivate
- Founded2019
- HeadquartersTallahassee, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Preferred Payroll does
Preferred Payroll is a U.S.-headquartered provider of payroll, human resources, talent management, workforce management, and tax credit services, founded in 2019 and based in Tallahassee, Florida with 11-50 employees. The company's core offering centers on a cloud-based Human Capital Management (HCM) platform that bundles payroll processing, HR management, applicant tracking, timekeeping, scheduling, and proactive tax credit identification (including WOTC screening) into a single integrated suite. The platform also includes dedicated employer and employee self-service portals (Employer on the Go, Employer On Demand) that automate routine payroll and HR workflows.
The business operates a B2B managed services model targeting two primary customer segments: small to medium businesses (SMBs) seeking outsourced payroll and HR support, and CPA firms and accountants requiring payroll services for their client base. Revenue is generated through managed payroll services, outsourced HR professional services, HCM software subscriptions, and tax credit advisory engagements, with pricing structured as quote-based engagements rather than publicly disclosed rates. Distribution is delivered through four regional offices in Peoria (IL), Buford (GA), Tallahassee (FL), and DuBois (PA), enabling localized service, alongside multi-channel content marketing (blog, case studies, guides, webinars) and organic social presence.
The data indicates Preferred Payroll shares branding and infrastructure with IRIS Global (formerly CAVU HCM), a wholly-owned subsidiary of IRIS Capital Limited within the IRIS Software Group, a UK-based holding company. The operating company has expanded beyond U.S. SMB payroll into global workforce services, including Global Payroll Services, Employer of Record (EOR), Global HR Services, and Global Contractor Services, addressing businesses hiring internationally. The broader product portfolio also extends to IRIS Payroll Software for accountants and payroll service bureaus, IRIS Firm Management software for CPA practices, and IRIS Outsourcing for bookkeeping and tax.
Preferred Payroll firmographics
Firmographics- Name
- Preferred Payroll
- Legal name
- IRIS Capital Limited
- Website
- https://mypreferredpayroll.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Preferred Payroll provides cloud-based payroll, HR, talent management, workforce management, and tax credit services to small and medium businesses and CPA firms in the U.S., operating from four regional offices with integrated self-service portals.
- Ownership category
- akta.pro rank
Preferred Payroll industry classification
Industry- Product category
- Payroll & HR Services
- NAICS
- Payroll Services (541214), Accounting, Tax Preparation, Bookkeeping, and Payroll Services (5412), Professional Employer Organizations (56133)
- akta.pro primary industry
- Managed Payroll Services (Full-Service Payroll Outsourcing) (BPAAAHAA)
- akta.pro secondary industries
- Payroll Software & Payroll-as-a-Service (SaaS) (BPACAIAB), Full-Service Payroll Processing (BPACAIAA), Global Payroll & Multi-Country Payroll Management (BPACAHAC), Human Capital Management (HCM) & Payroll Platforms (HDAEAEAJ)
Keywords
Where Preferred Payroll is headquartered
LocationHeadquarters
- HQ city
- Tallahassee
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Preferred Payroll business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Managed Payroll Services: Outsourced payroll processing services for businesses, including tax management and compliance
- HR Management Services: Outsourced HR services including talent management, workforce management, and compliance support
- HCM Software: Human Capital Management software platform subscription for human resources management
- Tax Credits Services: Identification and claiming of tax credits such as WOTC for qualified hires
Go-to-market motion1 record
Distribution channels3 records
Marketing channels8 records
Preferred Payroll product offering
Product offeringCore offering
Preferred Payroll provides outsourced payroll processing, HR management, bookkeeping, tax planning, timekeeping, and insurance services to small and medium-sized businesses and CPA firms. Underpinning these services is a cloud-based Human Capital Management (HCM) platform that integrates payroll, talent management, workforce management, and tax credit (e.g., WOTC) optimization, delivered through dedicated support specialists across multiple regional U.S. offices.
Product overview
IRIS (formerly CAVU HCM) offers an integrated HCM platform combining payroll, HR, talent management, workforce management, and tax credits services. The core offering is IRIS HCM, which unifies Talent Management, HR Management Services, Payroll Services, Workforce Management, and Tax Credits modules. The portfolio also includes standalone software products (IRIS Payroll Software for accountants/service bureaus) and global expansion services (Employer of Record, Global Payroll Services, Global Contractor Services, Global HR Services). The company operates from locations in Peoria, Illinois; Atlanta, Georgia; Tallahassee, Florida; and DuBois, Pennsylvania.
Differentiator
Problem solved
Functional benefit
Brands
- IRIS Firm Management: Integrated accounting practice management and document management software for CPA firms
- IRIS Payroll Software
- IRIS Firm Management
- Practice Management Software
- Document Management Software
- IRIS Outsourcing
- IRIS Lease Accounting – Innervision
- MyPay Solutions
- IRIS HCM
- Global Payroll Services
- Employer of Record
- Global Contractor Services
- HCM Software
- HR Management Services
- Global HR Services
- Talent Management
- Timekeeping & Scheduling
- Tax Credits
- EmployerOnTheGo
- Employer On Demand
Products and services
- Payroll Processing Services Automated payroll processing, payroll tax filing and compliance, and proactive tax credit identification (including WOTC) delivered as a managed service to small and medium businesses and CPA firms.
- HR Management Services Outsourced HR support covering PTO/time-off administration, performance management, regulatory compliance guidance, and ongoing HR advisory for small and medium-sized employers.
- Bookkeeping Services Outsourced bookkeeping for small and medium businesses, part of Preferred Payroll's stated core services.
- Tax Planning Services Tax planning services for businesses, complementing the payroll tax management and tax credit identification work within Preferred Payroll's portfolio.
- Timekeeping Services Workforce management and timekeeping services including intelligent scheduling, time capture, and labor optimization via the HCM platform's workforce management capabilities.
- Insurance Services Insurance services offered by Preferred Payroll to small and medium businesses as part of its integrated back-office service portfolio.
Quantifiable outcome
- Reduced monthly payroll processing cost by approximately 67% (testimonial from President/CEO customer)
Companies that use Preferred Payroll
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Preferred Payroll technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Preferred Payroll partnerships and signals
Strategic signalScale indicators2 records
Recent moves6 records
Expansion highlights4 records
Preferred Payroll competitors and assessment
Company assessmentDirect peers
- Justworks: PEO and payroll platform providing full-service payroll, benefits, HR, and compliance support to small and mid-sized businesses. Comparable service-based delivery model and SMB focus.
- Paycor: HCM and payroll platform serving small and mid-sized businesses with HR, payroll, talent management, and timekeeping modules. Direct competitor to Preferred Payroll's integrated offering for the same SMB segment.
- Insperity: Leading professional employer organization offering co-employment, payroll, benefits, and HR outsourcing to SMB clients. Comparable PEO-style managed payroll and HR services model.
- Rippling: Unified workforce management platform that combines payroll, HR, IT, and finance for SMB and mid-market employers. Competes directly on integrated HCM functionality and modern cloud delivery.
- Paychex: One of the largest SMB-focused payroll and HR outsourcing providers in the US, offering managed payroll, HR administration, and timekeeping. Directly competes with Preferred Payroll for the same growing-business and CPA-channel customer base.
- Gusto: Cloud-based payroll, HR, and benefits platform purpose-built for small businesses. Highly comparable to Preferred Payroll's SMB-focused HCM and managed payroll model, competing head-to-head on the same target segment with a modern SaaS delivery model.
- Paylocity: Cloud HCM platform combining payroll, HR, talent management, time and attendance, and learning for SMB and mid-market employers. Closely comparable technology stack and product mix to Preferred Payroll's IRIS HCM platform.
Broad incumbents
- Workday: Enterprise-focused HCM and payroll cloud platform. Provides comparable payroll, HR, and talent management capabilities but targets larger organizations than Preferred Payroll's SMB and CPA-firm focus.
- ADP (Automatic Data Processing): The dominant US payroll and HCM provider with a broad portfolio spanning SMB through enterprise. Overlaps heavily with Preferred Payroll's core payroll and HR offerings but operates at vastly greater scale and with a national footprint.
- UKG (Ultimate Kronos Group): Large-scale HCM and workforce management vendor combining payroll, HR, and timekeeping across mid-market and enterprise. Overlaps with Preferred Payroll's payroll and workforce management modules but at much broader scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Preferred Payroll social profiles
Digital presencePreferred Payroll financial estimates
Financial estimateRevenue estimate
Valuation estimate
Preferred Payroll leadership team
Management profileNumber of profiles
Preferred Payroll subsidiaries and ownership
Company hierarchySubsidiaries1 record
Preferred Payroll funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Preferred Payroll M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Preferred Payroll
What does Preferred Payroll do?
Preferred Payroll provides outsourced payroll processing, HR management, bookkeeping, tax planning, timekeeping, and insurance services to small and medium-sized businesses and CPA firms. Underpinning these services is a cloud-based Human Capital Management (HCM) platform that integrates payroll, talent management, workforce management, and tax credit (e.g., WOTC) optimization, delivered through dedicated support specialists across multiple regional U.S. offices.
Is Preferred Payroll a public or private company?
Preferred Payroll is a private company. It is classified as unknown and is currently operating.
When was Preferred Payroll founded?
Preferred Payroll was founded in 2019. It employs 11 to 50 people.
Where is Preferred Payroll based?
Preferred Payroll is headquartered in Tallahassee, United States, in the North America region.
How does Preferred Payroll make money?
Four revenue lines are on record. Managed Payroll Services are the primary driver. The others are HR Management Services, HCM Software and tax Credits Services.
Who are Preferred Payroll's main competitors?
Direct peers on record are Justworks, Paycor, Insperity, Rippling, Paychex, Gusto and Paylocity. Broad incumbents are Workday, ADP (Automatic Data Processing) and UKG (Ultimate Kronos Group).
Does Preferred Payroll have an API?
No public API is recorded for Preferred Payroll.
What industry is Preferred Payroll in?
Preferred Payroll's product category is Payroll & HR Services. Its primary akta.pro industry code is BPAAAHAA, Managed Payroll Services (Full-Service Payroll Outsourcing), with a secondary code of BPACAIAB, Payroll Software & Payroll-as-a-Service (SaaS). Its NAICS code is 541214.