BambooHR’s data privacy policies appear to be sound, although with some areas of concern. We appreciate the company’s annual penetration test, which checks for exploitable holes in its cybersecurity infrastructure. Moreover, the Utah-based HR software vendor issues an annual SOC II report, specifically disclosing its independently audited data security practices.
The company declares all user data is encrypted in transit and stored on servers in the United States, Canada, and Ireland, depending on a client’s location. However, BambooHR clarifies that only “certain sensitive fields'' are encrypted while stored on its servers, leaving some customer data unprotected.2
Considering how a hacker was able to access TRAXPayroll employee banking information in 2019, having only some client data encrypted at rest is inadequate. Further, the company’s bug bounty program, which rewards people for reporting fixable software issues, only applies to BambooHR’s core platform, not TRAXPayroll, as of March 2021.
While BambooHR states a bug bounty is “coming soon” to TRAXPayroll, our research finds this claim first surfaced in October 2020. With no public updates in the meantime, it’s unclear if or when this may come to fruition.
Sadly, the company refuses to disclose its prices publicly. Some users have reported paying $6 to $8 per employee per month for the core platform, although we couldn’t confirm this with the company. Payroll, time tracking, and performance management are premium add-ons, further ballooning costs.
For comparison, similar HR platform SageHR charges $5.50 a month per employee, while Uzio starts at $4 a month per staff member. Zoho People offers 4 of its 5 monthly plans at $5 or less per-user.
At its reported price range, BambooHR is pricey, making it less attractive for budget-conscious businesses.
BambooHR is its own standalone human resources software company headquartered in Lindon, Utah. The company has received substantial venture capital funding from Sorenson Capital since 2012.
Payroll processing software TRAXPayroll, once a separate company, is now owned by BambooHR.
Business.org independently verified that ecommerce boutique Jane, video game developer Capcom, and tech startups Grammarly and Postmates use BambooHR. The HR software vendor reports servicing over 20,000 clients, including the University of Maryland and ZipRecruiter.