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CloudPay - Payroll Services 2021
Vendor Analysis
published on Feb 25, 2021
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Report Overview:
This NelsonHall assessment analyzes CloudPay'sofferings and capabilities in Payroll Services
Who is this Report for:
NelsonHall’s Payroll Services profile on CloudPay 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 CloudPay’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:
CloudPay, Inc., headquartered in Andover, England, is a provider of managed global payroll and treasury services across >130 countries through its proprietary cloud platform.
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 re-branded to CloudPay in October 2012, aligning its brand with the naming for its multi-country SaaS payroll offering.
Today, CloudPay’s stated mission is to make global pay strategic and break boundaries in a traditionally labor intensive industry. The company is focus on providing global payroll and treasury services through its digitally focused, technology-enabled operating model. It offers its payroll services and solutions in support of >130 countries, delivered in 20 languages, and provides treasury payment services in 160 global currencies.
CloudPay's global payroll services produce >1.9m pay-slips and process $5.8b in gross payments annually. It currently provides its global payroll and treasury services to >1.5k global entities.
Historically, CloudPay targeted its services exclusively to middle and large/enterprise multi-national companies, primarily employers with >500 employees and operating in more than five countries. However, in recent years CloudPay has expanded its targeting to support organizations of all sizes for its global payroll and treasury services. Its current client base largely (>90%) slants toward middle-market firms with >15k employees.