Upcoming ISG Provider Lens report series will evaluate providers’ ability to elevate and future-proof payroll systems with increased agility, resiliency and continuity
Information Services Group, a leading global technology research and advisory firm, has launched a research study examining modern digital solutions and services for the payroll operations of both U.S. and multinational companies.
“Future-proofing payroll with digital capabilities and services is essential in today’s rapidly changing employment environment.”
The study results will be published in a comprehensive ISG Provider Lens report, called Payroll – Solutions and Services 2022, scheduled to be released in June. The report will cover companies offering technologies and managed services that enable payroll operational transformation.
Enterprise buyers will be able to use information from the report to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.
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Companies of all sizes, around the world, have begun to recognize that payroll is a critical part of the employee experience. This is leading many to seek digital technologies and managed services that will modernize payroll operations and increase their agility, resiliency and continuity.
“Payroll is a key function of any organization, and modernization allows companies to derive greater value from it,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Future-proofing payroll with digital capabilities and services is essential in today’s rapidly changing employment environment.”
ISG has distributed surveys to more than 100 payroll solutions and services providers. Working in collaboration with ISG’s global advisors, the research team will produce three quadrants representing the digital services and products the typical enterprise is buying, based on ISG’s experience working with its clients. The three quadrants are:
- Managed Payroll Services: U.S., evaluating providers that can deploy and support fully managed payroll services incorporating a range of U.S.-specific payroll solutions. These providers can digitalize critical processes, including solution design, deployment of enabling platforms, automation, integration and ongoing services and support. Leading providers have broad, deep and mature platform technology and digital enablers, which may include cloud platforms, analytic insights, application programming interfaces and cognitive technology. Clear roadmaps and supporting investments in solutions and services are also essential. This quadrant will be divided between providers serving small enterprises with fewer than 1,000 employees and midsize and large organizations with more than 1,000 employees.
- Managed Payroll Services: Global, assessing providers capable of deploying and supporting fully managed payroll services for multinational organizations. They should offer a range of solutions to digitalize and modernize processes across multiple countries under a single governance model. The quadrant assesses the breadth, depth and maturity of offerings to support payroll operations for long-tail, multi-country populations, including enabling platforms and country calculation engines. Providers should have the delivery presence and capability to support all major geographies, along with roadmaps and supporting investments in multi-country services and solutions.
- Employer of Record (EoR) Services, covering companies that can provide co-employment service arrangements and operating models for multinational firms embarking on global expansions. They should be able to offer fully managed EoR services across multiple countries and regions under one governance model, including solution design and consulting, contracting and onboarding of co-employed workers, deployment, automation, integrations and managed HR and payroll services for contract workers. Providers are evaluated on factors including the breadth of local legal entities and operations they offer globally, their delivery presence in all major geographies and the maturity of their global employment platforms and digital enablers.
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The reports will cover the global payroll solutions and services market and examine products and services available in the U.S. ISG analysts Pete A. Tiliakos, Venakat B. and Sandhya Hari Navage will serve as authors of the reports.
A list of identified providers and vendors and further details on the study are available in this digital brochure. Companies not listed as payroll solutions and services providers can contact ISG and ask to be included in the study.
All ISG Provider Lens™ evaluations now feature new and expanded customer experience (CX) data that measures actual enterprise experience with specific provider services and solutions, based on ISG’s continuous CX research. Enterprise customers wishing to share their experience about a specific provider or vendor are encouraged to register here to receive a personalized survey URL. Participants will receive a copy of this report in return for their feedback.
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