Vendor Analysis
published on Aug 23, 2022
Report Overview:
This NelsonHall vendor assessment analyzes SD Worx's offerings and capabilities in Payroll Services.
Who is this Report for:
NelsonHall’s Payroll Services profile on SD Worx is a comprehensive assessment of SD Worx'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 SD Worx’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:
SD Worx is a leading people solutions provider with global capabilities and European roots. SD Worx is one of the largest HR providers in Europe, with a physical presence in twenty-two countries, supporting ~76k clients and having ~6.1k employees.
It offers software and services across the full employee life-cycle, from staffing and core HR to talent and career solutions. Services include software, outsourcing, consulting, and data insights. SD Worx conducts business through two primary segments:
- People Solutions: payroll, expenses, compensation and benefits, recruitment and workforce management, HR technology, and automation
- Staffing and Career Solutions: staffing, recruiting, and consulting.
This profile focuses specifically on SD Worx's payroll services capability.
It offers global payroll and HR services to clients across 150 countries through regional partnerships and a single harmonized service level and governance model. It processes ~5m pay-slips per month and has ~6k employees.
SD Worx has continued its European expansion over the last year. Its payroll business was significantly expanded with its acquisition in April 2021 of Aditro. Aditro was a Swedish-based HR and payroll SaaS vendor with capability across Sweden, Norway, and Finland. Aditro was founded in 2003. Aditro was established as the mid and large enterprise market leader in these countries and brought clients such as Saab, Volvo, and IKEA. This business has now been rebranded by SD Worx and is fully integrated. Later in September 2021, SD Worx also opened new offices in Katowice (Poland), Madrid (Spain), and Milan (Italy), expanding its southern European presence. In July 2022, SD Worx acquired HR Pro in Croatia, which has payroll capability in 7 countries. This brings SD Worx’ local presence to 22 countries with local payroll processing capability in 30 European countries.