Vendor Analysis
published on Sep 07, 2022
Report Overview:
This NelsonHall vendor assessment analyzes BDO's offerings and capabilities in Payroll Services.
Who is this Report for:
This profile is a comprehensive assessment of BDO's Payroll Services offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of Payroll Services and identifying vendor suitability for security services RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the Payroll Services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of BDO’s Payroll Services offerings and capabilities, and market and financial strengths, 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 locations.
Key Findings & Highlights:
BDO is a global accounting, tax, and business advisory firm headquartered in Zaventem, Belgium. BDO was founded in 1963 when firms from the UK, Netherlands, Germany, US, and Canada joined forces to share and expand their knowledge and to support cross-national operations and customers. BDO operates as an international network of accounting, tax, consulting, and advisory firms, including operations in 164 countries, and it has 1,710 offices globally, supported by ~96k employees. Almost all countries are managed as separate legal entities, and most offer local payroll services to domestic clients. National payroll operations typically represent 2-10% of local revenue. Globally its revenue in 2021 was $11.8bn across 162 countries.
In February 2019, BDO U.K. acquired Moore Stephens LLP, creating the 5th largest UK accountancy and business advisory firm focused on mid-sized and larger publicly listed organizations. This acquisition further grew its national payroll capability, servicing payrolls with up to 10k employees. As a result, UK, BDO LLP now has a combined workforce of 5k people across all service lines in 18 locations, delivering revenues of £731m (for the 52 weeks ending 2 July 2021).
The U.K. BDO organization leads BDO’s global service propositions (compliance, accounting, and payroll) within the wider Business Services & Outsourcing business unit. BDO has ~20 years of experience delivering multi-country payroll services through various proprietary and partner platforms, including evolve, which hosts ~50 country payroll operations.
The 2019 acquisition of Moore Stephens LLP bolstered BDO’s multi-country payroll capability by adding another global payroll aggregator platform, IPPEX GLOBAL, and supporting services. Today, BDO supports ~100 multi-country payroll services clients, producing ~700k pay slips per year across ~100 countries.