Rollfi has set its sights on an ambitious long-term goal: to power a payroll SKU for at least one vertical software vendor for every single NAICS (North American Industry Classification System) code.
The Opportunity in NAICS Codes
The NAICS system defines 1,012 distinct industries or market segments, each with its own unique processes, workflows, and requirements. This diversity presents a significant opportunity for software vendors to develop tailored solutions that cater to the specific needs of each vertical.
For instance, NAICS code 238140 represents "Masonry Contractors." A vertical software solution for this industry could include features like project management, material tracking, crew scheduling, payroll, and integration with construction-specific accounting systems. Similarly, NAICS code 621111 covers "Offices of Physicians (except Mental Health Specialists)," where a vertical software platform could offer electronic health records (EHR) management, patient scheduling, billing and coding, payroll + benefits, and integration with medical devices and laboratories.
The Benefits of Vertical Software
By partnering with Rollfi to integrate payroll and insurance into their vertical software solutions, software vendors can offer their clients several key advantages:
- Tailored Functionality: Vertical software is designed to meet the specific needs of an industry, providing features and workflows that align with the unique processes and requirements of that vertical.
- Deeper Domain Knowledge: Vertical software vendors develop expertise in the industry they serve, enabling them to better understand and address the challenges faced by their customers.
- Regulatory Compliance: Many industries have specific regulatory requirements, and vertical software can help businesses comply with these regulations more effectively.
- Integration Capabilities: Vertical software often integrates with other industry-specific tools and systems, creating a seamless ecosystem for businesses within that vertical.
- Competitive Advantage: By adopting a vertical software solution, businesses can gain a competitive edge over those using generic horizontal applications that may not fully address their industry-specific needs.
Join Rollfi's Vision
If you are a software vendor with payroll and insurance on your roadmap, Rollfi invites you to join their mission to power payroll for every NAICS code. By partnering with Rollfi, you can leverage their expertise, technology, and integrations to enhance your vertical software solution and provide even greater value to your clients.
Don't miss out on this opportunity to stay ahead of the curve and deliver the best possible experience to your customers. Reach out to Rollfi today and let's discuss how we can work together to power your vertical software with seamless payroll and insurance solutions.
About Rollfi
Rollfi provides the fastest way for Banks, Vertical SaaS companies, Accounting Firms, and Fintechs to integrate payroll and benefits into their offerings through our white-label solutions + robust APIs. By leveraging Rollfi’s infrastructure, businesses can unlock new revenue streams, increase customer retention, and access valuable payroll data insights. With rapid deployment and comprehensive coverage, Rollfi transforms your platform into a one-stop-shop for essential services, driving growth and enhancing customer satisfaction.
