Today, we’re excited to share that Gusto has been named to the Forbes 2024 Cloud 100, which celebrates the top 100 private cloud companies in the world.
Every year, the Forbes Cloud 100 reviews submissions from hundreds of cloud startups and private companies. It ranks companies for their market leadership, estimated valuation, operating metrics, and people and culture. We’re truly honored to be among the best.
Supporting small businesses like yours
So, how did we make the list? By focusing on the needs of small businesses and their teams. Approximately 99.9% of employers across the U.S. are small businesses – but running a business is complex. Small business owners have so many jobs to do, while navigating an increasingly complicated web of compliance regulations and requirements.
Our goal is to make entrepreneurship simpler by automating HR, payroll, and benefits through our cloud-based platform. Today we support more than 300,000 entrepreneurs and millions of their employees across the U.S. – helping them create incredible places to work. Here’s how we’ve been supporting our customers through our product and platform.
Making international hiring easy
Compliance is challenging – and it’s even tougher to navigate international regulations. Big businesses can afford HR and legal teams for support, but it can be incredibly tough for small businesses. Yet they can’t afford to get compliance wrong – compliance penalties can run hundreds of thousands of dollars, potentially risking a small business’ failure.
So in 2023, we launched Gusto Global, powered by Remote. It streamlines the hiring, onboarding, payment, and management of international and U.S. workers in a single platform. Today, we enable small businesses to hire full-time employees in Australia, Brazil, Canada, India, Mexico, the Philippines, the UK, Spain, and Ireland.
And for small businesses who aren’t ready to hire full-time employees, but still want to work with international freelancers and contractors, we also offer international contractor payments in more than 120 countries.
Through Gusto Global and our international contractor payments features, small businesses can fully benefit from the skills and expertise of international talent, while having full peace of mind around compliance.
Powering more businesses’ payroll through our partners
Payroll and compliance are tough. There are thousands of U.S. tax agencies, plus federal, state, city, and county requirements – and all of them have their own regulations and nuances. That’s where Gusto comes in – we’ve helped small businesses navigate the ins and outs of compliance for over a decade.
Banks and vertical SaaS companies also want to offer payroll to their small business customers – but they lack our compliance expertise.
That’s why we launched Gusto Embedded. We help dozens of partners – including Chase Payment Solutions and other Fortune 250s – provide their customers with payroll and peace of mind around compliance. Today, we serve more than 300,000 small businesses directly – and through our partners, we serve another 700,000 businesses across the U.S.
Harnessing AI to help entrepreneurs save time and money
Each year, small businesses spend more than $40 billion just on compliance with federal requirements – that doesn’t even include the costs of state or local regulations, or financial penalties.
We believe AI has incredible potential to help busy entrepreneurs cut down on manual tasks, freeing them up for meaningful work – and compliance is one of the most time-consuming operational tasks for their businesses.
We’re building with AI to help them cut down on their time spent on compliance-related tasks – like reporting on their finances and resolving tax notices. We’re excited to share more soon.
Continuing to support the needs of small businesses
We’re incredibly honored to be featured as part of the Forbes Cloud 100. But we don’t want to lose sight of who we’re building for – the small businesses that make up the bedrock of our economy and that are driving innovation forward every day. When our customers succeed, we succeed, and our first priority is to build for their needs and their teams.
