Vendor Analysis
published on Jan 27, 2020
Report Overview:
This NelsonHall assessment analyzes Namely's offerings and capabilities in U.S. SMB payroll services
Who is this Report for:
NelsonHall’s Payroll Services Vendor Assessment for Namely is a comprehensive assessment of Namely’s U.S. Small and Medium Business (SMB) payroll services offering and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of payroll outsourcing and identifying vendor suitability for payroll services RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector
- HR and payroll decision makers.
Scope of this Report:
The report provides a comprehensive and objective analysis of Namely’s U.S. SMB Payroll services offering, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery centers.
Key Findings & Highlights:
Namely, headquartered in New York, NY, is a provider of cloud-based HCM technology and services exclusively to midsized companies.
The company was formed in 2012 as an HR solution provider focused on developing a next-generation "People Operations Platform" (HCM), specifically designed for the end-user, alongside key HR processes.
In August 2017, Namely expanded beyond HCM technology, launching a managed service offering to complement its platform, including managed payroll, benefits administration, HR consulting, and employment verification support. In Q1 2020, Namely introduced its "Enhanced Services" offering, inclusive of managed payroll, benefits, and project services.
Today Namely's HCM technology and services offering supports >1.4k clients and >250k client employees, processing >$14 bn in payroll annually.
Namely offers a fully managed payroll service as an extended add-on solution to complement its cloud payroll module, which is natively delivered within the Namely People Operations Platform, and is leveraged exclusively in the delivery of its payroll services. ~77% of Namely's client base has adopted its payroll module and services.
Namely leverages and offers its own cloud HCM platform, built on a single database, and delivered as a SaaS-based, multi-tenant solution. Although its current configuration primarily supports North American based employees, it also supports global employees in ~30 countries (for core HR and talent only); ~20% of its current user base has an international presence.