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Accountor Sweden- Next Generation Payroll Services

Vendor Analysis

by Pete Tiliakos

published on Jan 21, 2019

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Report Overview:

This NelsonHall vendor assessment analyzes Accountor Sweden's offerings and capabilities in Next Generation Payroll Services

Who is this Report for:

NelsonHall’s Payroll Services Vendor Assessment for Accountor Sweden is a comprehensive assessment of Accountor Sweden 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.

Scope of this Report:

The report provides a comprehensive and objective analysis of Accountor Sweden’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:

Accountor Group (Accountor), a privately held organization, founded in 1944 and headquartered in Helsinki, Finland is one of largest providers of outsourcing of financial management, accounting, and HR management in Northern Europe. Accountor also provides Software for accounting and Finance as well as for HR.

Accountor began providing outsourcing services, in Sweden, through its acquisition of PBK Outsourcing in 2007.  During 2014 and 2015 Accountor rapidly boosted its capability with multiple acquisitions. 

In 2014, its group of companies adopted the name Accountor Group and today supports ~150k clients from >100 offices across seven countries in Northern Europe, including Finland, Sweden, Denmark, Norway, the Netherlands, Ukraine, and Russia.

Each of its seven countries within the Accountor Group operates independently and provides the following services, including:

  • Accounting services
  • Payroll and HR services
  • Advisory services
  • Software solutions: finance, accounting, CRM, ERP, WFM, payroll, HR, and recruiting

This profile focuses specifically on Accountor Sweden's payroll outsourcing services capability and does not include the full scope of the Accountor Group's collective payroll business.

Accountor Sweden offers a fully managed payroll outsourcing service leveraging 3rd party technology, including:

  • Build to gross: manage payroll data inputs and calculations (e.g., time data, earnings, deductions, expenses, special payments, etc.)
  • Pension administration
  • Expat processing
  • Gross to net processing
  • Reconciliation and validation
  • Payment processing and remittance
  • Tax processing and statutory reporting
  • Third party remittance (e.g., tax filling, lodgments/garnishments, bank files, etc.)
  • Monthly/Quarterly/Year-end processing and reporting
  • GL interface
  • Payroll inquiry management support.

Approximately 50% of Accountor Sweden's client base adopt payroll services as a standalone service, with the remaining 50% adopting at least one other additional service.

Accountor Sweden offers the following extended services commonly paired with its managed payroll services, including: 

  • Accounting services, including:
    • Finance and accounting managed services
    • Purchasing invoicing
    • Group reporting
    • Sales invoicing
    • Accounting software
  • Payroll and HR services, including:
    • Travel and expense management
    • Document management and archiving
    • HR consulting and advisory
    • Recruitment and staffing services for finance, accounting, and payroll roles
    • Workforce Management software
  • Advisory, including:
    • Legal and tax advisory
    • Recruitment consulting
    • Financial control and management
    • Finance and payroll process optimization
    • Audit support and guidance.

Pricing for Accountor Sweden's payroll services offering is based on a per pay-slip model, with implementation billed as a one-time fee.  Consulting is based on a time and materials on a per hour basis and charged as incurred.

Accountor Sweden takes a platform-agnostic approach in the delivery of its payroll services, leveraging 3rd party platforms entirely.  While it does not maintain specific partnerships, its platforms leveraged include Numbrs, Visma Agda, Hogia Lön, Tempura, and FlexLön.

While Accountor Sweden does not offer payroll platform technology, it does offer a portfolio of software solutions across its scope of services, including finance, accounting, CRM, ERP, workforce management, HR, and recruiting.

Accountor Sweden has ~310 employees located across nine locations throughout Sweden and is the third largest by total employee count in the Accountor Group behind Finland and Norway.

Accountor Sweden's office and delivery locations include Gävle, Göteborg, Karlskoga, Karlstad, Malmö, Lund, Uppsala, Västervik and Stockholm, and therefore maintains an entirely onshore, in-country delivery model.  It does have small segments (<5%) of its resources embedded with clients on site and provides the onsite delivery on a client by client basis.

It has ~250 professionals dedicated to payroll and accounting services and operates without the support from partners to delivery its payroll services. Although it does leverage 3rd party technology for payroll calculations and processing, it does not maintain specific partnerships with these platform providers.  However, as a client to these platforms, Accountor Sweden works closely with its vendors to provide input to roadmap and design for new features and functionality.

Accountor Sweden has >800 payroll clients and primarily targets small and midsized Swedish businesses for its payroll services. Its smallest client is less than five employees, while its largest client is ~1k and its client base averages ~200 employees.

While Accountor Sweden targets Swedish based organizations, it does have clients with footprints outside the country, primarily from bordering countries in Northern Europe. ~97% of its clients have a single country payroll scope, with ~3 percent having a multi-country scope. Its multi-country contracts average four countries in scope, most commonly: Finland, Denmark, Norway, and Sweden.

Accountor Sweden takes an industry agnostic approach and supports clients from a range of industry verticles.

Table of contents:

Table of contents:

  • Background
  • Revenue Summary
  • Key Offerings
  • Payroll Services Offering
  • Technology Offering
  • Delivery Capability and Partnerships
  • Target Markets
  • Strategy
  • Strengths and Challenges
  • Strengths
  • Challenges
  • Outlook

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