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Raet - Next Generation Payroll Services
Vendor Analysis
published on Oct 26, 2017
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Report Overview:
This NelsonHall vendor assessment analyzes Raet's offerings and capabilities in Next Generation Payroll Services.
Who is this Report for:
NelsonHall’s Payroll Services vendor assessment for Raet is a comprehensive assessment of Raet’s payroll services offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of payroll outsourcing 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 Raet’s Next Generation Payroll services 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 of delivery locations.
Key Findings & Highlights:
Raet is a privately owned, Dutch based HR services provider which also offers HR/payroll software. Founded in 1965, it is now the largest provider in the Netherlands and has ~10k clients, servicing ~1.7m client employees and an additional ~1.2m pensioners. Its original technology was mainframe based, which it operated until 2006 when it developed its cloud based HCM platform, Raet Youforce. The cloud based platform supports one version across all clients.
Raet’s payroll services include:
- Managed payroll services, consisting of:
- Payroll administration and management including reconciliations, submitting tax filings, processing payments, and reporting
- Managing bank files, payroll interfacing including integration to pension funds
- HR professionals contact center
- Client is responsible for data input and manager/employee contact center services
- Cloud based HCM/payroll software provision using proprietary Raet Youforce technology, including legal updates and software maintenance.
In addition to payroll, Raet offers multi-process HR services to ~30% of the client employees which it services. All of its MPHR services clients include payroll services; an example client is one of the largest telecom providers in the Netherlands.