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OneSource Virtual - Payroll Services 2021
Vendor Analysis
published on Jan 06, 2021
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Report Overview:
This NelsonHall assessment analyzes OneSource Virtual's offerings and capabilities in Payroll Services
Who is this Report for:
NelsonHall’s Payroll Services profile on OneSource Virtual is a comprehensive assessment of its offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of managed 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 HR and payroll technology and services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of OneSource Virtual’s payroll services offering, 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:
OneSource Virtual (OSV), founded in 2008 and headquartered in Dallas, TX, is a privately held provider of deployment, maintenance, human capital management, and finance and accounting services exclusively for the Workday platform. As one of Workday's largest partners, OSV offers full lifecycle services for Workday customers and supports ~40% of Workday's client base.
OSV offers a comprehensive set of products and services designed to enable Workday customers to achieve full lifecycle value for their technology investment. OSV seeks to meet the needs of the Workday market with new products and services, as well as ongoing investments in technology tools, robotic process automation (RPA), and enhancements.
OSV's patented, proprietary Atmosphere application provides the foundation for their in-tenant capabilities for Workday customers; its scope of services includes:
- Professional Services: including Workday HCM and financial management, and Adaptive Planning deployments and strategic consulting to support organizational transformation
- HR Services: including workforce administration, employee inquiry management, payroll, garnishments, tax, benefits and COBRA administration, earned wage access (myFlexPay) and unemployment claims administration, and employee verifications.
- Finance and Accounting Services: including invoice pay and supplier management, invoice imaging, and accounts payable automation services
- Application Management Services (AMS): including day to day configuration and 'break-fix' support, release management, business process health checks, and strategic roadmaps and planning
Payroll is a central component to OSV's HR BPaaS services offering and capability, with >550 of its clients adopting its managed payroll service offering (supporting ~40% of Workday's payroll module adopters). OSV's payroll operations conduct >3m payroll transactions monthly and actively processes ~3m pay-slips annually.
OSV targets Workday adopters headquartered in the U.S., Canada, and the U.K. and supports ~800 clients, with >550 of its clients adopting its tiered payroll services offering, supporting ~40% of Workday's payroll module adopters globally.
Its payroll services client base consists primarily (>80%) of middle-market organizations (those with 500 to 15k employees), paying ~5k employees on average across its client adopters. Its largest client has ~220k employees.