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TMF Group- Payroll Services

TMF Group- Payroll Services

Who Is This Vendor Assessment For?
NelsonHall’s Payroll Services Vendor Assessment for TMF is acomprehensive assessment of TMF’s Payroll Service offering andcapabilities, designed for:

Sourcing managers monitoring the capabilities of existing suppliers ofpayroll outsourcing and identifying vendor suitability for payroll processoutsourcing RFPs
Vendor marketing, sales, and business managers looking tobenchmark themselves against their peers
Financial analysts and investors specializing in the support servicessector
HR and payroll decision makers.

Key Findings & Highlights
TMF Group, headquartered in Amsterdam, is a multinational professionalservices firm, providing tax, accounting, HR, payroll and corporatesecretarial services to businesses. Founded in 1988 and employing ~6.4kindividuals across 122 offices, and serving clients in 84 countries, it hasbuilt its global presence through a combination of organic growth andstrategic acquisitions. In 2014, TMF Group acquired KCS Group, aleading business services provider in Asia, significantly improving TMFGroup's scale across the fast growing Asia Pacific region In March 2015,TMF Group acquired PwC’s BPO business in Brazil, which provided BPOservices in F&A, HR and tax and compliance and bolstered its LATAMoperations by adding three offices in Barueri, Rio de Janeiro and RibeirãoPreto and ~500 employees to its portfolio.So far in 2016, TMF has made four acquisitions relating to its payrollbusiness:
UCMS Group:
an independent payroll, HR and accounting provider,founded in 2006 and headquartered in Budapest
Swain & Associates Inc.:
a provider of accounting, payroll and businessconsultancy services, founded in 1987 and headquartered in Toronto,Canada
Extor:
an accounting and payroll services provider, founded in 2005and headquartered in Warsaw, Poland with ~140 employees
Axiss International Management Ltd:
a regulated managementcompany based in the Cayman Islands.Payroll is focused on and generates revenue across:

EMEA (~40% of its revenue)
APAC (~32% of its revenue)
LATAM (~27% of its revenue)
North America (~1% of revenue)
Asia Pacific, led by Australia/New Zealand, followed by mainland Asia
The Americas, led by the U.S.
EMEA, led by the U.K., followed by Benelux.TMF Group processes 2.5m payslips annually for ~5.5k clients and handles~€5bn in salary payments. It has ~1k employees dedicated to deliveringpayroll services to its clients and specializes in clients with <3-5kemployees on average.

Scope of the Report
The report provides a comprehensive and objective analysis of TMF’spayroll outsourcing offering, capabilities, and market and financialstrength, including:

Identification of the company’s strategy, emphasis, and newdevelopments
Analysis of the company’s strengths, weaknesses, and outlook
Revenue estimates
Analysis of the profile of the company’s customer base including thecompany’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,size and scale of delivery locations and their activities.


1. Background
2. Revenue Summary
3. Key Offerings
3.1 Transition
3.2 New Developments
3.3 Service Levels
4. Delivery Capability and Partnerships
4.1 Geographical Capability
4.2 Partnerships
4.3 Technical Capability
5. Target Markets
6. Strategy
7. Strengths & Challenges
7.1 Strengths
7.2 Challenges
8. Outlook

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