For the second consecutive year, Immedis is ranked as a leader in the Payroll Services 2021 NelsonHall Vendor Evaluation & Assessment Tool (NEAT) report, which analyzes the performance of vendors offering next generation payroll services. Looking at the payroll services market, NelsonHall found that the global payroll standalone payroll services market
- is estimated to be worth $21.4bn in 2020
- is growing at 4.3% CAGR annually and will reach $26.3bn by 2025.
What is driving this phenomenal growth?
The digital transformation of global payroll. As NelsonHall explains, the demand for global payroll to modernize, consolidate, automate and digitize- and all operating on the one centralized model, is causing organizations to dramatically realign their payroll practices and strategy to ensure they future proof their businesses.
The varied reasons for this reimaging of payroll include:
- Process digitization and automation
- Improve efficiency and effectiveness
- Cost improvement
- Employee experience and wellness
- Reduce risk.
What this means is that organizations are seeing the very process of global payroll in a whole new light, and one that shines a spotlight on how they transform payroll to one that provides a modern employee experience while also continuing to pay these employees on time, the correct amount and ensure the company is locally and globally compliant.
Why do we rank as a Leader?
Part of the evaluation is a comprehensive and very thorough examination of the Immedis solution. After completing this review, here’s what NelsenHall found:
- We provide a fully managed payroll service, including payments and funding, and extended global mobility tax solutions.
- We offer a modern, technology-enabled proprietary payroll technology platform for global payroll management.
- Our HCM partnership list is strong and includes Workday, SuccessFactors, UKG, Oracle/PeopleSoft, Unit4, and Ceridian.
- We offer a good set of digital enablers: e.g. mobile ESS/MSS, analytic reporting capability, real-time integrations.
- Perpetual Validation, an Immedis industry-first innovation, which continuously checks and validates the quality of data within the platform means that customers are benefitting from cutting-edge automation capabilities which they can use to reduce errors and eliminate inaccurate payroll runs.
- Our customers are enjoying improved reliability for payroll results to improve timeliness, accuracy, and compliance.
- We are enabling organizations to improve the employee user experience.
- Our platform’s reporting capabilities enable customers to access reporting and analytics which are consolidated across countries.
And saving the best for last here’s what our customers are saying about us.
- They are very happy with our level of knowledge and expertise and they feel as though we are partnering with them on this journey and not just suppliers of technology.
- They are seeing the results – timely accurate and compliant payrolls.
- Gave shoutouts to how the Immedis Platform is enhancing the employee experience, the ease of integration, and our analytic reporting offerings.
- We listen to our customers and take their feedback into account when working on new functions and features for the platform. As one customer noted, “Everything Immedis has brought forward to us, we’re extremely happy with and is in line with what we’re hearing we should be doing in different areas.”
- And perhaps what for us is the best endorsement of all, more than the average rate of our customers would recommend us to others.
Of course, we are on a journey and we are not stopping by a long shot. We have plans to continue to evolve current treasury and funding solutions, continue to expand into new territories, and continue to innovate as we work towards our ultimate goal of touchless global payroll.
To our customers, we say thank you for joining us on this journey so far and we look forward to moving into the next phase with you.
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