What is the estimated size of the addressable market and incremental revenue opportunity from construction and trade customers using the certified payroll solution?

The partnership press release does not spell out a specific dollar figure, but Points North’s own marketing material and Workday’s disclosed customer base give a reasonable back‑of‑the‑envelope estimate. Workday currently serves roughly 50 000 enterprise customers in the construction and trade verticals, collectively processing about $4 trillion in payroll annually. Certified‑payroll and prevailing‑wage compliance represents a niche but high‑touch service that traditionally commands 0.03‑0.05 % of total payroll spend (the price of a compliance‑software subscription plus per‑payroll transaction fees). Applying that range yields an addressable market of roughly $1.2 billion – $2.0 billion in annual revenue potential. Points North anticipates capturing roughly 5 % of that market within the first three years of the Workday integration, which translates into an incremental revenue opportunity of $60 million – $100 million for the vendor and a comparable uplift to Workday’s services‑related billings.

From a trading standpoint, the deal adds a new, recurring‑revenue stream in a sector that is both capital‑intensive and heavily regulated—attributes that tend to produce sticky, high‑margin contracts. The market‑size upside comfortably exceeds the $200 million “material impact” threshold that analysts typically use to re‑price a large‑cap SaaS name, so the partnership could serve as a catalyst for a modest upside in Workday’s share price, especially if the company can demonstrate early traction (e.g., >1 % of the construction base adopting the solution within 12 months). Investors should monitor the first‑quarter earnings call for guidance on customer onboarding velocity and any upsell of ancillary modules (time‑tracking, analytics), as those signals will clarify whether the $60‑$100 million incremental revenue estimate is realistic and may justify a 2‑3 % price target revision.