Equifax and InVerify, Competitive Analysis

Goals

Provide a competitive analysis of Equifax and InVerify that includes strengths, weaknesses, market share, and if and how these companies work with payroll providers

Early Findings

Equifax

  • Key strengths of Equifax include a high level of customer satisfaction, strong free cash flow, a strong dealer community promoting the company's products, and reliable suppliers.
  • It is also noted that the company has strength in that it has been intentional in building a connection between their distributors and dealers, and invested in training their sales team to show customers how to gain maximum benefits from their products.
  • Key weaknesses for Equifax include the need to invest more in new technologies to keep up with their company vision within the industry, as well as a high employee attrition rate that forces them to allocate more resources to training and development of employees than their competitors.
  • In terms of payroll and payroll related solutions, Equifax offers services around HR payroll services, payroll tax and payment compliance needs.

InVerify

  • InVerify offers the key strength that all of their services are integrated, thus using the service often frees up time for HR.
  • They offer a wide range of services, including gathering verification information needed to apply for a loan, home mortgage, new job, rental qualification, or social service benefits such as temporary assistance, housing assistance, child support, or nutrition assistance.
  • Employment related services include employee self services for payroll and employment verification services and payroll services for HR departments.


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