Vendor Analysis
published on Sep 05, 2022
Report Overview:
This NelsonHall vendor assessment analyzes Immedis' offerings and capabilities in Payroll Services.
Who is this Report for:
This profile is a comprehensive assessment of Immedis' Payroll Services offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of 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 Payroll Services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Immedis’ Payroll Services offerings and 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:
Immedis, headquartered in Ireland, is dedicated to global payroll and tax services. Immedis is a private company, majority owned by the Clune Technology Group (CluneTech), and operates as an independent subsidiary. The CluneTech group of companies focuses on technology to support global business solutions across digital sales, payroll, tax compliance, and VAT & cross-border payments. Immedis offers (with an approximate share of revenue):
- Global managed payroll services (90%)
- Expatriate management, including assignment management, tax compliance, and employment tax advisory services (5%)
- International payments to support the payment of employees, statutory bodies, and local partners (5%).
Immedis supports payroll services across ~150 countries, leveraging its proprietary global payroll technology, in-country partnerships, and in-house tax expertise, and has ~150 global payroll clients.The organization began as a payroll business line within the Taxback Group (now Clune Technology Group), a global fintech organization founded in 1996.
In 2012 it began developing its global payroll platform, which launched in the cloud in 2016. Later that year, the Taxback Group re-branded its multi-country payroll offering to Immedis, and in 2017 expanded its global mobility presence in North America through the acquisition of Expaticore.
In December 2020, it secured a $50m investment from Lead Edge Capital, based on a valuation of $575m. This investment was to support its global growth, including opening a U.S. West Coast and Singapore office to service the increased demand from the U.S. and APAC clients.
Immedis continues to make investments in developing its payroll solutions.