Vendor Analysis
published on Aug 12, 2024
Report Overview:
This NelsonHall vendor assessment analyzes AscentHR's offerings and capabilities in Payroll Services
Who is this Report for:
NelsonHall’s Payroll Services profile on AscentHR is a comprehensive assessment of AscentHR’s 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 AscentHR’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 centers.
Key Findings & Highlights:
Ascent Consulting Services Pvt. Ltd (AscentHR) is headquartered in Bangalore, India, offering HR services across 34 countries with a focus on the Asia-Pacific and Middle East regions. AscentHR started as a payroll services organization in 2003 and has since expanded with complementary HR services. Across all its business, it has ~850 clients. Its HR business offerings include:
- HR consulting: strategy, organizational structure, succession planning, reward, competencies, leadership assessments, role analysis, policy formulation, appraisal, and performance consulting
- HR, payroll technology, and outsourcing services:
- HCM platform, StoHRM, covers HR processes from hiring to separation
- Payroll engine, PowerPay, supporting 28 countries
- Managed payroll services: reconciling payroll data, liabilities, managing remittances, wage deductions, record keeping, reporting taxes, notices, and inspections
- Payment solutions, including card payment and digital wallet
- Travel & Expense management, based on proprietary software (TripEx)
- HR and payroll compliance management through its proprietary platform, Lexcare
- Employee experience and feedback platform (SurveyBerry)
- eLearning, AHR Academy, offering an LMS solution (SeekLMS)
- Payroll and enterprise compliance
- Corporate services
- Financial wellness offering, through its JoFin acquisition in 2022, offering split payroll
- Staffing solutions, with proprietary technology, Stafzy, delivered through Ascent Staffing Solutions Pvt. Ltd., a fully owned subsidiary of Ascent Consulting Services Pvt. Ltd.).