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OneSource Virtual - Payroll Services
Vendor Analysis
published on Jun 09, 2015
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Report Overview:
OneSource Virtual (OSV) is a privately owned, U.S. based Workday services provider which offers HR outsourcing and IT services (configuration and testing) for Workday clients.
Who is this Report for:
NelsonHall's Payroll Services Vendor Assessment for OneSource Virtual (OSV) is a comprehensive assessment of OSV's payroll services offering and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of payroll services 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 OSV's payroll service 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, size and scale of delivery locations and their activities.
Key Findings & Highlights:
Founded in 2008, it has ~560 employees based in its Dallas and Phoenix offices. It has ~220 clients and offers:
- MPHRO services, including:
- Employee helpdesk
- Benefits: supporting ~45k client employees served in 2014 across ~50 clients (where four of these, representing ~30k client employees, do not purchase payroll services)
- Payroll services
- Payroll services, including:
- Payroll management, payroll administration, settlement, tax and garnishments: ~385k client employees served in 2014 across ~185 clients
- Application support for Workday technology, including:
- Application and configuration support: ~465k client employees served in 2014 across ~220 clients where only ~15% of the employee serviced and client base do not also purchase payroll services.
OneSource Virtual has a number of proprietary Workday based platforms:
- Atmosphere: a central processing system which overlays multiple Workday client installations from which services can be delivered. It provides a tool for OneSource Virtual payroll managers to execute multiple payrolls across multiple clients from one point of execution
- INspect: an automated testing system which has a library of test scripts to apply using the Workday API
- INable: a data loading tool which enables data migrations from legacy systems to be data mapped and cleaned prior to loading into Workday.
In 2014 OSV processed ~290k employees on payroll, and in 2015 it is beginning to expand geographically. OneSource Virtual is in the process of establishing an office in the U.K.; its management plans to build a U.K. service center in Northern Ireland, with first hires planned for Q2 2015.