SD Worx- Next Generation Payroll Services
Who Is This Vendor Assessment For?
NelsonHall’s Payroll Services vendor assessment for SD Worx is a comprehensive assessment of SD Worx’s payroll services offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of payroll outsourcing and identifying vendor suitability for payroll
- 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
SD Worx is a European HR service provider with physical presence in ten countries and ~61k clients worldwide, ~50k of which are based in
Belgium. It is headquartered in Belgium and has 31 offices through the country. It was created by the Flemish Employers Association in 1945 as a non-profit company, to provide services for social administration to enable companies to focus on their core business.
SD Worx, in conjunction with Aditro, founded the Payroll Services Alliance (PSA) in 2010 to serve multinational payroll clients across Europe, under one governance model and one set of service levels. The PSA incorporates other payroll providers including Elanor, Seresco, Trianon, Ceridian, F2A, and most recently Ascender; together, they cover ~90 countries.
SD Worx processes ~4.3m payslips per month, supporting ~61k clients, ~97% of which are businesses with <500 employees. Today, the majority of SD Worx’s clients are in Belgium (>54k clients with ~1m payslips) and it has >10k clients outside of Belgium with larger populations a+H33nd a total of 3.3m payslips.
SD Worx is the largest payroll provider in Belgium, and the second largest in Europe. It provides global payroll services, supporting 91 countries via three models: a cloud payroll service, a managed service, and a comprehensive service model.
SD Worx has ~3.6k personnel across Europe and Mauritius (with ~700 employees providing technology and back-office support for payroll and related services), ~80% of whom are providing payroll services (~2.9k employees). SD Worx primarily provides payroll offsite, although it does support onsite services for large clients.
SD Worx is targeting multinational companies with global businesses, and local companies. It supports ~90 countries (ten SD Worx countries: Austria, Belgium, France, Germany, Ireland, Luxembourg, Mauritius, Netherlands, Switzerland, and the U.K.; and 60 through the PSA), across ~61k clients, including ~55k in Belgium; and it produces 4.3m payslips per month. SD Worx will expand to new countries beyond Europe, by sourcing local payroll partners to support companies which have multicountry needs beyond the current SD Worx footprint.
Scope of the Report
The report provides a comprehensive and objective analysis of SD Worx’s 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.