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Safeguard Global - Payroll Services 2023
Vendor Analysis
published on Aug 29, 2023
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Report Overview:
This NelsonHall vendor assessment analyzes Safeguard Global's offerings and capabilities in Payroll Services.
Who is this Report for:
NelsonHall’s Payroll Services profile on Safeguard Global is a comprehensive assessment of Safeguard Global 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 Safeguard Global’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:
Safeguard Global, formed in 2008 and headquartered in Austin, Texas, is a global provider of managed payroll and employer of record services. Its business has the following divisions:
- Global managed payroll services, with ~240 clients, servicing ~198k employees across 125 countries
- Global employment outsourcing and accounting services with ~1.1k clients and ~6.4k workers supported which includes Employer of Record (EOR) services.
In 2010, it became a Workday partner and in 2019 Safeguard Global received investment from private equity partners Accel-KKR (AKKR) providing funding to support its next growth phase. Supported by this funding, Safeguard Global made the following acquisitions:
- Global Upside Corporation, an incorporation, accounting, and global EOR & Payroll services organization, was acquired in January 2022. This acquisition added ~500 employees to the existing 1,100 Safeguard Global employees
- GEDA, a German payroll and accountancy services company, was acquired in October 2020
- WorkFor Group, a Swiss and pan-European-based provider of technology-enabled human capital management services.