Immedis- Next Generation Payroll Services
Who Is This Vendor Assessment For?
NelsonHall’s Payroll Services Vendor Assessment for Immedis is a comprehensive assessment of Immedis’ 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.
Key Findings & Highlights
Immedis, headquartered in Dublin, Ireland is a provider of international payroll, and global mobility tax solutions.
The company was formed in 1996 as a new business line for the Taxback Group, a global financial services organization, providing payroll services. In 2012 it began developing its iConnect payroll platform technology, which launched in the cloud in 2016.
At the end of 2016, the Taxback Group re-branded its payroll business to Immedis, and in 2017 it expanded its global mobility services capability and footprint in North America by acquiring Expaticore for $10m.
Today, Immedis provides international payroll and global mobility services for ~150 multi-national organizations globally, producing ~1.6m pay-slips annually.
Immedis offers a fully managed payroll service and extended global mobility tax and funding solutions, including:
• Global Managed Payroll, including:
– Data migration support
– Payroll platform provisioning
– End to end payroll processing
– Support for inputs and validations
– Gross to net calculations
– Post payroll validation and reconciliation
– Reporting and GL file delivery
– 3rd party remittance
– Funding and payments
– Pay-slip distribution
– Employee Self Service
– Local compliance
– Year-end tax processing
• Global Mobility Tax, including:
– Tax equalization calculations and advisory
– Split pay/multicurrency
– Cross-border relief claims
– Equity remunerating advice
• Funding and Payments: Immedis offers a variety of global payment services to its clients for payroll funding and remittance.
Immedis does not provide tier 1 support for employee payroll inquiries; however, it does support clients with tier 2 contact support for payroll inquiries through 24/5 (weekday) support.
Immedis provides its payroll services on a per pay period (per pay-slip) basis which is derived from a base cost per jurisdiction managed, plus a cost per employee per pay period as well an annual flat fee for year-end services. Implementation is charged as a one-time, flat fee. Immedis has a small percentage of clients leveraging annual pricing where they pay an annual flat fee for all services up front (including billing mechanisms for any volume fluctuations), in exchange for a discounted pricing.
Implementation is generally taken on in a phased approach and varies depending on the scope of countries, size, and complexity, etc. With 15 countries in scope on average per client, most clients prefer a multiphase, multi-month deployment, as an example, 22 countries can be deployed over a ~8-12-month duration.
Immedis leverages a mix of partner payroll calculation engines, and it's proprietary iConnect consolidation platform to deliver payroll to ~140 countries.
iConnect is a cloud-based payroll consolidation (aggregator) platform built on the AWS (Amazon Web Services) cloud platform. iConnect is integrated through prebuilt connectors to leading HCM, timekeeping, and finance management platforms (e.g. Workday, SuccessFactors, Namely, UltiPro, PeopleSoft and Oracle). The platform is mobile enabled and adaptive across devices and supports pay-slip delivery, analytic reporting, and omnichannel support (email, phone, chat).
While iConnect supports payroll consolidation across much of its ~140 countries, it does not provide a gross to net calculation engine or capability. Therefore, Immedis leverages in-country partners almost entirely to conduct its payroll calculation process with integration to iConnect. However, Immedis does support gross to net calculation through a licensed payroll engine for Ireland, U.K., U.S., and Australia.
iConnect is leveraged across Immedis entire payroll client population as part of service delivery; therefore, the platform is not available on as a standalone solution.
Immedis provides clients with integrated analytic reporting capability. iConnect Analytics includes deep payroll insights at a granular level in multiple languages. The offering includes a dashboard-style control center view of payroll globally which offers a drill-down capability to review payroll data and details at the country and payroll levels. Further, iConnect by design leverages analytics which is embedded across the platform and provide a prescriptive level capability to enhance the UX and delivery global payroll insights. Through iConnect Analytics, clients can connect external data (including payrolls not managed by Immedis) from client platforms for holistic reporting.
Immedis has invested in and continues to develop and leverage RPA in the delivery of its payroll services and is working toward what it calls touchless payroll processing.
Its current capability centers on automation of the validation of data inputs to payroll and the movement of data to its in-country providers for processing gross to net calculations. As payroll data is submitted for processing with each cycle, the inbound data is unpacked and verified leveraging RPA. The data is then automatically stored in a database and then broken into country-specific details. The data is repacked and sent to the in-country engines through integrations and direct feeds, eliminating the need to key or re-key data into the system for processing.
Immedis has ~130 resources dedicated payroll and tax professionals across five primary centers, dedicated to the delivery of its payroll and global mobility services.
Immedis targets organizations of all sizes for its payroll and global mobility services, primarily middle market MNC's seeking global payroll solutions and consolidation to a single provider. Over 90% of its new clients are new to outsourcing or new to global payroll consolidation in place of managing multiple vendors.
Typically, Immedis focus on global services rather than single country services, with a minimum threshold of >300 employees located in three or more jurisdictions (clients average 15 countries in scope).
Scope of the Report
The report provides a comprehensive and objective analysis of Immedis’ 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.
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