Vendor Analysis
published on Aug 24, 2021
Report Overview:
This NelsonHall assessment analyzes AscentHR's offerings and capabilities in Next Generation HCM Technology
Who is this Report for:
NelsonHall’s HCM technology profile on AscentHR is a comprehensive assessment of its offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of HCM technology platforms and identifying vendor suitability for RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the HR technology and services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of AscentHR HCM Technology 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 for key centers.
Key Findings & Highlights:
AscentHR, founded in 2002, and headquartered in Bangalore, India, is a privately held HR technology and services company. The company entered the payroll services market in 2003 when it launched its proprietary PowerPay platform.
AscentHR provides the following managed services and solutions:
- HR consulting services: HR outsourcing and transformation, recruiting and sourcing strategy, compensation and benefits, training, education, and development, workforce management, performance management, separation management, HR policy, and M&A Advisory on HR
- HR outsourcing services: managed payroll services, benefits administration, HR and payroll compliance, HR policy administration, contact center, and welfare trust services
- HR technology: consulting, implementation, and management for its proprietary, cloud-based, multitenant, fully integrated HCM, and payroll platforms:
- StoHRM: HCM suite supporting core HR, leave, time and attendance, payroll, recruiting, learning, performance management, workforce planning, succession planning, analytic reporting, and self-service
- Lexcare: HR compliance platform
- PowerCRM: CRM platform for service inquiry management
- PowerPay: multi-country payroll platform (supporting 35 countries natively; extended to ~74 through partners)
- HRBerry: employee and manager self-service module
- ELSA: Learning enablement system.
AscentHR offers a proprietary HCM technology suite called StoHRM. The platform is a cloud-native, low-code design, LAMP-based application built on a single database, code-line, and infrastructure. The modular solution is fully integrated across the suite and mobile-enabled through a dedicated app. The platform can be adopted as a standalone offering (core HR must be included to adopt other modules) and is leveraged by AcentHR as its primary service-enabled technology for its managed services adopters.
AscentHR targets emerging midsized firms with >500 employees headquartered in APAC and the Middle East to adopt its StoHRM HCM technology and supports >160 clients and ~113k client employees through the platform. Its largest StoHRM adopter has ~60k employees live on the platform.