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PayGroup - Payroll Services 2022
Vendor Analysis
published on Sep 08, 2022
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Report Overview:
This NelsonHall vendor assessment analyzes PayGroup's offerings and capabilities in Payroll Services.
Who is this Report for:
This profile is a comprehensive assessment of PayGroup'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 PayGroup’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:
PayGroup (ASX: PYG), founded as PayAsia in 2006 and headquartered in Singapore, provides multi-country HCM and HR services. In June 2022, it announced it had entered into a public offer to be acquired by Deel to drive growth further to enable the creation of a global payroll platform. The deal approval is expected to take three months to complete. Founded in 2019 in California, Deel offers global EOR services supporting ~150 countries.
PayGroup operates through a Software-as-a-Service (SaaS) model, mainly serving multinational companies with a presence across the APAC region and a global reach across 82 countries through partners. It offers a Software-with-a-Service (SwaS) model and HR services while leveraging its SaaS technology as well as a SaaS-only solution. PayGroup provides comprehensive “hire-to-retire” HCM solutions. It began expanding its product suite in 2019, from payroll to a broader HCM offering primarily through acquisitions.
PayGroup provides the following suite of payroll services, all of which are integrated and can be extended by the broader PayGroup solutions, e.g., WFM, and HCM, including:
- Single and multi-country managed payroll services
- Multi-country compliance
- Consulting and implementation
- Payroll point solutions: lodgments, treasury
PayGroup has 2.8k payroll clients and delivers payroll services to ~600k client employees. Its delivery team of ~400 employees is primarily based in Australia, India, Singapore, and Japan.