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Vistra - Payroll Services
Vendor Analysis
published on Aug 19, 2025
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Report Overview:
This NelsonHall vendor assessment analyzes Vistra's offerings and capabilities in Payroll Services
Who is this Report for:
NelsonHall’s Payroll Services profile on Vistra is a comprehensive assessment of Vistra’s offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of Payroll Services 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 Payroll Services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Vistra’s Payroll Services offerings, capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, challenges, 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:
Vistra is a business services organization supporting corporate and fund solutions with ~10k professionals across ~50 countries. It offers corporate administration, fund administration, and private wealth services. Vistra's client base represents ~45% of the Fortune Global 500. It offers managed payroll services using proprietary payroll technology for ~130 countries, including a data maintenance and contact center. Its offering also supports technology-only services where organizations wish to retain the in-country payroll management using Vistra middleware.
In July 2023, Vista completed a major merger with Asia-based business expansion services organization Tricor. Tricor added ~4k employees to Vistra's existing ~5k employee base and complemented the Vistra business, adding global knowledge and local expertise in business, corporate, investor, human resources & payroll, corporate trust & debt services, and governance advisory. Tricor had ~50k clients globally (including ~20k in Mainland China) and a network of offices in 49 cities across 22 countries/territories. Its client portfolio included ~2k listed companies in Hong Kong SAR, Mainland China, Singapore, and Malaysia, representing ~40% of the Fortune Global 500 companies and a significant share of multinationals and private enterprises operating across international markets.
Recently, in May 2025, Vistra further expanded its payroll capability following its acquisition of iiPay, a multi-country payroll software and service provider. As well as centers in the U.K. and U.S., iiPay has operations centers in Hungary, Ireland, Mexico, France, and Singapore and is supported by a network of in-country payroll partners. Its Mexico operations added capability in Latin America, supporting Vistra’s strategy to expand across the Americas.