Vendor Analysis
published on Feb 18, 2021
Report Overview:
This NelsonHall assessment analyzes AscentHR's offerings and capabilities in Payroll Services
Who is this Report for:
NelsonHall’s Payroll Services profile on AscentHRis 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 AscentHRpayroll 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:
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 34 countries natively; extended to ~74 through partners)
- HRBerry: employee and manager self-service module
- ELSA: Learning enablement system.
Today, AscentHR supports ~550 clients within its payroll services business and produces >867k pay-slips monthly.
AscentHR historically targeted small and midsized firms for adopting its payroll technology and managed services. However, with its capability and offering maturing, it is more commonly engaging buyers with larger employee footprints and is now targeting firms with >500 employees headquartered in APAC and the Middle East.