Points North Records 52% Growth and Achieves Company Key Goals for 2024

ST LOUIS PARK, Minn. - Jan. 30, 2025 - PRLog -- Coming off its annual company meeting, software company Points North announced better-than-expected results across all product lines for full year 2024, surpassing expectations. New customer sales grew by 52% across all products, and record revenues were driven by a 52% increase in recurring revenue. As a continuation of 2023 full year results, the company's strategic initiative to diversify demand through direct channels accelerated in the first of 2024, as direct demand from marketing efforts, including SEO (Search Engine Optimization), soared by over 68% compared to full year 2023. Partner revenue also showed strong growth, rising by 47% compared to 2023. The company has funded and launched an outbound demand team to drive client acquisition in the construction and specialty contractor segments.

CEO Keith Pelatowski summarized the company's performance, "Our 2024 results are a direct result of the key strategic initiatives and our teams' ability to continue to execute together, growing at a pace beyond our expectations. Our focus on attracting top talent across our expanded company structure drove productivity and helped us respond to record demand from the market. We are bullish about our plans for 2025 through 2027."

Several key strategic initiatives helped drive improved client satisfaction and retention rates. The customer service teams launched an expanded knowledge base to help drive expedited resolution times and satisfaction scores. Furthermore, the implementation teams successfully piloted and subsequently launched the next generation self-guided onboarding process to aid in reducing new client onboarding times and increasing immediate value. Lastly, as the leader in Certified Payroll and Compliance, we recently released our updated certified reports to address updated New Jersey and California state requirements.

Points North continues to differentiate its services with the ongoing delivery of the first-of-its-kind Certified Payroll Reporting Managed Service platform. Points North grew its revenue from this offering by 416% in 2024. This offering addresses clients' needs for turnkey compliance support, including reporting, rate sourcing, and prevailing wage rate management. In anticipation of further adoption of ICHRA plans in the health insurance market, the ACA Reporter product team released key enhancements to address client ease of use respective to ICHRA plans.

Poised for further growth, Points North expanded its talent base by recruiting ten new employees for key roles, including further expanding its engineering and product teams. The company is planning an expansion of its Minneapolis office for early spring to support its growing employee base.

Learn more at: https://www.points-north.com