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CloudPay - Payroll Services
Vendor Analysis
published on Aug 27, 2024
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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’s 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:
CloudPay, Inc. offers global payroll and payment services. Its proprietary platform offers managed payroll and treasury services across ~130 countries.
The company is focused on providing global payroll, payments, and on-demand pay through its unified proprietary CloudPay platform. It has ~288 payroll clients and delivers services to ~320k client employees supported by ~450 payroll delivery employees across ~120 countries.
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 and expanded to offer treasury services in 2014. It re-branded to CloudPay in October 2012, aligning its brand with the naming for its multi-country payroll technology offering.
CloudPay operates in 17 core countries and supports the remaining countries with in-country partners. The company has recently 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, mobile app capability, and validation features. In 2021, CloudPay was early to market in launching an earned wage access offering, CloudPay NOW, following its acquisition of Wezaam. In 2020, CloudPay partnered with Visa to enable payments through instant payments to a card.