Vendor Analysis
published on Aug 01, 2023
Report Overview:
This NelsonHall vendor assessment analyzes Atlas’ offerings and capabilities as a provider of global employer of record services.
Who is this Report for:
NelsonHall’s Global EOR profile on Atlas is a comprehensive assessment of Atlas’s offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of Atlas and identifying vendor suitability for Global EOR RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the Global EOR sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Atlas’s Global EOR offerings, capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, challenges, 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:
This NelsonHall vendor assessment analyzes Atlas’s EOR offerings and capabilities.
Atlas is headquartered in Chicago, Illinois, and provides HR technology and direct EOR services, including onboarding, legal and tax compliance, payroll, benefits, visa & immigration support, and human capital management. The minority-owned company also offers technology-enabled industry-specific HCM services and HR consulting. The company was founded in 2015 by its current CEO, Rick Hammell, after identifying opportunities to support organizations in navigating the complexities of their globalization efforts. Atlas has been a direct employer of record since its formation, with owned legal entities in ~160 countries.
The company rebranded from Elements Global Services to Atlas in June 2022. Similarly, its SaaS-based technology stack was enhanced, relaunched as a single platform, and renamed Atlas Human Experience Management (Atlas HXM). Its rebranding efforts reflect the flexibility, agility, and enabling technology required to meet client and worker UX expectations, talent needs, and data requirements intensified by recent global events.
The company maintains a humanitarian focus to bridge global gaps between employers and employees and create opportunities for small and minority-owned businesses. Atlas’ culture promotes diversity and equality for its clients, worksite, and internal employees.
In the past seven years, the company has grown from a local EOR start-up servicing clients in ~30 countries; to a global technology firm currently providing EOR services with capabilities across ~160 countries.
In August 2020, the company secured $20m through a minority investment round with Guidepost Growth Equity. This funding supported new service offerings and multiple enhancements to the Atlas HXM SaaS-based HR technology platform, including:
- Government: A worker onboarding and human capital management solution for prime contractors and subcontractors to transition global United States Department of Defense (DoD) and United States Agency for International Development (USAID) projects quickly and compliantly
- Venture Capital: Human capital management solution for venture capital firms in planning and managing mergers & acquisitions, restructuring, divestitures, and investment deals
- Enhancements to their technology platform enriched the company’s payroll and business intelligence functionality, allowing clients to access specific country pages, download documents, and submit requests online to hire or expand into a new country
- In addition to recent technological advancements, Atlas expanded its global presence by opening new offices in Shanghai, China (its APAC headquarters); Lagos, Nigeria; Johannesburg, South Africa; Washington D.C., U.S.; San Francisco, U.S.; London, U.K.; and Dublin, Ireland. The company owns and operates in-country entities in ~160 countries.
In September 2022, the company announced it secured an additional $200m in strategic equity funding through Sixth Street Growth to support its continued global expansion and technology enrichment.
Atlas’ service-enabled technology solutions comprise the following products and services:
- Direct Employer of Record
- Contractor Pay
- Consulting Services
- Data & Insights
- Global Mobility & Visa.
The company’s proprietary technology stack, Atlas HXM, enables centralized online access for employers and workers. Atlas offers its global employer of record services to ~560 clients and manages ~4,700 active workers across ~160 countries and ~90 languages.