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Ramco - Next Generation Payroll Services
Vendor Analysis
published on Nov 03, 2017
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Report Overview:
This NelsonHall vendor assessment analyzes Ramco's offerings and capabilities in Next Generation Payroll Services.
Who is this Report for:
NelsonHall’s Payroll Services vendor assessment for Ramco is a comprehensive assessment of Ramco’s payroll services offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of payroll outsourcing 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 support services sector
- HR and payroll decision makers.
As well as the payroll cloud offering, Ramco offers managed payroll services and MPHR services which include HR administration, employee helpdesks, and statutory lodgment services. Its HCM cloud offering is adopted by ~40% of all client employees on Ramco payroll.
Ramco provides payroll services for ~406k employees and produces ~1.7m payslips annually across the globe. All frequencies of pay cycle are supported and configurable.
Ramco has ~1.6k employees, of which ~400 are aligned to its HCM and payroll business unit; ~100 employees are focused on implementation related services and ~150 employees are dedicated to delivering payroll services. Approximately 70% of these dedicated payroll employees are based in offshore service centers, ~20% are based in nearshore or onshore locations,and the remaining ~10% are based on client site.
Ramco delivers payroll services to ~472 clients and targets organizations in India, ASEAN, ANZ, and MENA in the following industries: manufacturing, retail, hospitality, logistics, technology, financial services, professional service, and healthcare. It also targets the U.S./Europe headquartered MNCs' multi-country payroll consolidation on a unified platform.
Scope of this Report:
The report provides a comprehensive and objective analysis of Ramco’s Next Generation Payroll services offering, capabilities, and market and financial strength, 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:
Ramco Systems (Ramco) is a publicly listed software and services company, and part of the Ramco Group of companies. It is headquartered in Chennai, India with ~1.6k employees and 24 offices across India, APAC, ANZ, the U.S., Canada, Europe, the Middle East, and Africa. Ramco Systems started as the R&D division of Ramco Industries Limited in 1992 and was established as an independent company in 1999. Ramco offers multi-tenanted cloud and mobile based enterprise software to the market, in the form of:
- HCM and global payroll software and services
- ERP
- Aviation software
- Logistics software
- Asset management software.
Ramco targets verticals including aviation, logistics, manufacturing, BFSI, equipment rentals and services, government, infrastructure, professional services, and trading.
Ramco has ~20 years’ experience in delivering payroll software and services, initially using client-server architecture. In 2008, it began investing in cloud technologies as part of a company-wide strategy to move all proprietary software into a cloud architecture. It has one HCM product called Ramco HCM:
- The current (cloud) version of Ramco HCM was launched in 2008 as a combined offering, as part of its Cloud ERP offering. Ramco wasawarded its first HCM cloud client in 2009
- Ramco's payroll platform is configured to support ~40 countries, withpartnerships to cover ~108 countries
- Ramco HCM on Cloud, a standalone product (the current offering),was released in 2013 and Ramco has ~470 payroll clients operating on this software
- Ramco provides the same product on-premise, cloud, and as a hybrid option.