Vendor Analysis
published on Sep 02, 2022
Report Overview:
This NelsonHall vendor assessment analyzes OneSource Virtual's offerings and capabilities in Payroll Services.
Who is this Report for:
This profile is a comprehensive assessment of OneSource Virtual’s 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 OSV’s 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:
OneSource Virtual (OSV), founded in 2008 and headquartered in Dallas, TX, is a privately held Workday-focused service provider offering deployment, maintenance, HCM, and F&A services on the Workday platform. It is a Workday dedicated business with 14 years of experience, ~970 customers, and is supported by ~1,200 employees.
OSV seeks to meet the needs of the Workday market with complementary operational products and services, including the application of technology such as robotic process automation (RPA). In 2013 OSV's patented its proprietary Atmosphere application to offer advanced in-tenant operational features to support Workday services. OSV has continued to invest in technology to digitalize and automate processes and has a suite of Workday-specific products to enhance Workday technology.
OSV's core businesses (with an estimated share of revenue):
- Professional Services: including Workday HCM and financial management, Adaptive Planning deployments, and strategic consulting to support organizational transformation (15%)
- Payroll and HR Services: including global payroll services (where the U.S., Canada, and U.K. payrolls are typically serviced on the Workday platform and additional countries are supported through a partner network), workforce administration, employee verification, garnishments, tax, benefits, and COBRA administration. In this business, all clients adopt payroll and/or tax services, and a subset adds HR services alongside (40%)
- Finance and Accounting Services: including invoice pay and supplier management, invoice imaging, and accounts payable automation services (10%)
- Application Management Services (AMS) for the Workday HCM and Financial platform: including day-to-day configuration and 'break-fix' support, release management, business process health checks, and strategic planning (35%).
OSV's managed payroll services business supports ~575 payroll clients servicing ~2m client employees.