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CloudPay - Payroll Services 2023
Vendor Analysis
published on Aug 29, 2023
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Report Overview:
This NelsonHall vendor assessment analyzes CloudPay's offerings and capabilities in Payroll Services.
Who is this Report for:
NelsonHall’s Payroll Services profile on CloudPay is a comprehensive assessment of CloudPay 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 CloudPay’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:
This NelsonHall vendor assessment analyzes CloudPay, Inc., is a U.K.-headquartered vendor that provides global payroll services. Its proprietary platform offers managed payroll and treasury services across ~130 countries.
CloudPay aims to offer strategic value from global payroll management. The company is focused on providing global payroll, payments, and on-demand pay through a unified platform. It has ~265 payroll clients and delivers services to ~220k client employees supported by ~450 payroll delivery employees.
The company was initially formed in 1996 as Patersons Payroll Solutions Limited, a global payroll aggregator. It shifted its focus toward its current unified global payroll model. It re-branded to CloudPay in October 2012, aligning its brand with the naming for its multi-country payroll technology offering.
Between 2013 and 2018, CloudPay operated in 14 core countries and relied on in-country partners for another ~120 countries. Recently, the company has been focused on growing its local country payroll capability adding new countries to its core country capability. CloudPay has also been advancing its platform through investment in automation, real-time analytics, and validation features.
More recently, it has invested heavily in its treasury and payments services. In July 2021, CloudPay launched its first earned wage access offering, CloudPay NOW, following the acquisition of Wezaam. A multinational lifestyle brand client realized early adoption across 12 countries. As a result of Wezaam, CloudPay acquired a number of “pay on-demand” standalone clients (i.e. where no payroll services are in scope).
Earlier in March 2020, CloudPay partnered with Visa to enable payments through a pay card. CloudPay is also increasing partnerships with payment providers to enable payrolls to bring faster payments for employees and third parties.