Asure Software stock gains on AWS Marketplace expansion

On Friday premarket trading, Asure Software Inc (NASDAQ:ASUR) shares surged 3.1% after the company revealed plans to list its payroll tax solutions on Amazon Web Services Marketplace beginning in September. The Austin-based provider of payroll and HR solutions will begin co-selling its Enterprise Payroll Tax and Treasury solutions to AWS Marketplace's 330,000 enterprise customers.

This expansion grants Asure access to a wider distribution channel for its tax business, which currently makes up nearly 20% of the company's revenue. By leveraging AWS Marketplace, Asure can more easily reach and serve 330,000 potential customers, according to Pat Goepel, Chairman and CEO of Asure. The company's solutions cater to large employers, payroll service providers, and HR platforms that handle payroll taxes and fund movements.

Asure currently works with more than a dozen global brands. The partnership with Labra.io, an AWS Premier Tier Services Partner, will manage the company's AWS Marketplace strategy, providing streamlined contracting and private offer processes that can shorten enterprise software sales cycles.