Unique ltd

Established in 1989, Unique Software Industries Ltd. has solidified its position within the Israeli fintech sector as a specialized developer of human capital management software. The firm's trajectory reached a significant milestone in November 2019 when it was acquired by Formula Systems (NASDAQ and TASE: FORTY), a global IT holding company, for approximately NIS 61 million. This acquisition was a strategic move by Formula Systems to penetrate the outsourced payroll services market, complementing its existing operations in shelf software for payroll management.

Unique Software Industries operates from its headquarters in Jerusalem, Israel, and provides comprehensive payroll and HR solutions to a diverse client portfolio. Its customer base includes government bodies, such as handling the payroll for all of Israel's Ministry of Education teachers, as well as commercial clients in banking, insurance, high-tech, construction, and hospitality. The company processes hundreds of thousands of employee payrolls across Israel each month.

The company's business model is centered on delivering its proprietary software through flexible service configurations. These include standalone installations for clients to manage in-house, an outsourced service bureau model, or a complete payroll accounting service. The core product is a robust software suite with distinct modules for payroll calculation and control, employee attendance analysis, and holistic human resources management. Further extending its capabilities, the platform offers specialized solutions for the administration of pension funds and continuing education funds.

Keywords: human capital management, payroll software, HR solutions, fintech, employee attendance, pension administration, payroll processing, Formula Systems, Israeli tech, B2B software, HR tech, payroll outsourcing, human resources software, corporate services, enterprise software