GOLDEN, COLO., Nov. 30, 2021 /PRNewswire-PRWeb/ -- AbsenceSoft, the leading SaaS platform for absence management, today announced that it has acquired Presagia, a cloud-based leave management solutions provider based in Montreal. By adding Presagia's strong expertise and capabilities to AbsenceSoft's best-of-breed product suite, AbsenceSoft expands its ability to improve employer and employee experiences in the highly complex and ever-changing leave law landscape. The combined entity creates an opportunity to provide a comprehensive, powerful and easy-to-use absence management platform with extensive compliance, automation, integration and analytics capabilities.
"As a united company, we are in a better position to keep pace with the high demand for our solution, provide a superior customer experience, and increase innovation across our product offerings," said John Huettel, president and CEO of AbsenceSoft. "We will be adding talented and dedicated resources to our team, which will only enhance our ability to deliver a best-in-class solution and feature set."
Constant changes to the multitude of laws, compliance requirements and corporate policies surrounding leave of absences can overwhelm HR teams, which are challenged to keep pace with the increased financial and legal burden associated with maintaining compliance on their own. Employers, now more than ever, need to offer their employees a supportive and positive experience during an often stressful or uncertain absence situation. Demand for absence management software to support these challenges has been on the rise, demonstrated by AbsenceSoft's rapid 400% growth over the last 24 months.
"This is an exciting time for the absence management industry and for these two firms," said Karen English, an industry expert and senior vice president with Spring Consulting Group. "It is great to see these two leading companies come together with the solution, organization, dedication and financial strength to serve this important and growing market."
With this acquisition, AbsenceSoft is bolstering its offerings to serve the market's growing need for managing leaves and accomodations. Presagia's customers will benefit from an enhanced user experience, while AbsenceSoft's customers will gain continued innovation and support. AbsenceSoft will now cover leaves and accommodations for more than 4 million employees across its customer base.
"To have an edge in a competitive job market, companies and TPAs are looking for every opportunity to elevate employee satisfaction, particularly in potentially stressful situations like taking a leave or longer-term absence," said Rene Beaudoin, CEO of Presagia. "By joining forces with AbsenceSoft, we will be able to help even more companies manage employee absences and leaves, drive efficiency and stay compliant with scalable, enterprise grade software."
Hennepin Partners was the exclusive financial advisor to Presagia.
AbsenceSoft, an absence management SaaS solutions provider, delivers modern, scalable, easy-to-use and flexible software to manage FMLA, ADA, disability, and other forms of leave easily, efficiently and cost-effectively. With AbsenceSoft, companies can process leaves 10 times faster than traditional methods, while ensuring compliance with the myriad of federal and state regulations. By streamlining the absenteeism management process, HR can improve the employee experience during an often stressful time. This results in increased employee satisfaction, higher productivity and reduced turnover. Founded in 2013 and based in Golden, Colo., AbsenceSoft is trusted by companies of all sizes and in every industry to care for employees, save time and stay compliant. Learn more at http://www.absencesoft.com, or follow the company on LinkedIn, Facebook or Twitter.
Presagia provides cloud-based absence management solutions for employers and TPAs. Customers gain peace of mind managing leaves and accommodations in a centralized system supported by a continuously updated Absence Compliance Engine covering U.S. federal and state leave rules - including FMLA and ADA, and Canadian federal and provincial rules. Presagia integrates with customers' HR systems and automates leave processes, enabling organizations to increase efficiency, minimize absence, reduce cost and improve compliance, while providing better customer service to your number one asset - employees! http://www.presagia.com
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Theresa Maloney, AbsenceSoft, 415-225-5261, [email protected]