Independent analysis of software rates technology providers on products that address key elements of global payroll software across seven product and customer experience evaluation categories.
BEND, OR, November 07, 2023 /24-7PressRelease/ — Today Ventana Research released its 2023 Buyers Guide for Global Payroll, a quantified, research-based report evaluating technology providers and products. The Buyers Guide assesses 13 vendors’ products using our Value Index methodology to evaluate software in seven key categories that are weighted to reflect buyers’ needs based on our expertise and research. The Buyers Guide for Global Payroll evaluates products that address key elements of domestic payroll as we define it.
Over the last three decades, payroll management has been widely outsourced. As a result, most payroll management operations were either partially or completely severed from other human capital management (HCM) processes. This isolation prevented organizations from using payroll information and planning in strategizing. Organizations were not readily able to utilize payroll data to manage important initiatives such as pay-for-performance strategies, optimizing worker schedules, or pay equity analyses.
Now, however, technology can integrate the various aspects of HCM, connecting HR, payroll, talent, and workforce management information and processes. Furthermore, analysts, managers, and executives can apply powerful analytics tools to enable better-informed decisions. More recently, tools such as robotic process automation, natural-language chatbots, now often referred to as co-pilots or assistants, and AI-enabled predictive and personalization capabilities are contributing to easier and more effective workforce management. These advances have played a significant part in enabling organizations to work toward providing a superior employee experience, increasingly a requirement for attracting and retaining top talent.
“Employers that operate around the world have complexities in how they manage payroll for their workforce in any country and are in compliance with country and jurisdiction regulations,” said Mark Smith, CEO and Chief Research Officer at Ventana Research. “The Buyers Guide for Global Payroll provides the means to help HR and finance work to ensure they can assess and select the payroll software that best meets the needs of the corporation and employees in a manner that supports the workforce requirements properly.”
The Buyers Guide for Global Payroll evaluates the following vendors that offer products that address key elements of global payroll as we define it: ADP, Ceridian, CloudPay, Gusto, Infor, Neeyamo, Oracle, Papaya Global, Paylocity, Rippling, SAP, UKG and Workday.
The research finds ADP atop the list, followed by Oracle and UKG. Companies that place in the top three of a category earn the designation of Leader. Oracle has done so in seven of the seven categories; ADP in six, and SAP and UKG in four.
The research places vendors into one of four overall categories: Exemplary, Innovative, Assurance, or Merit. This representation classifies vendors’ weighted performance overall in Product Experience and Customer Experience. The vendors were awarded the following categories:
– Exemplary: ADP, Ceridian, Oracle, SAP, UKG and Workday.
– Innovative: Infor.
– Assurance: CloudPay.
– Merit: Gusto, Neeyamo, Papaya Global, Paylocity and Rippling.
This Ventana Research Buyers Guide for Global Payroll is the distillation of over a year of market and product research efforts. It is an assessment of how well vendors’ offerings will address an organization’s requirements for global payroll software. The index is structured to support a request for information (RFI) that could be used in the RFP process by incorporating all criteria needed to evaluate, select, utilize, and maintain relationships with technology vendors. An effective product and customer experience with a technology vendor can ensure the best long-term relationship and value achieved from a resource and financial investment.
The structure of the research reflects our understanding that the effective evaluation of vendors and products involves far more than just examining product features, potential revenue, or customers generated from a vendor’s marketing and sales efforts. We believe it is important to take a comprehensive research-based approach since making the wrong choice of a global payroll technology can raise the total cost of ownership, lower the return on investment, and hamper an organization’s ability to reach its potential performance. In addition, this approach can reduce the project’s development and deployment time and eliminate the risk of relying on a short list of vendors that do not represent the best fit for your organization.
“Selecting the right global payroll application is essential to ensure that the software that is best suited to an organization’s complex needs, one that guarantees that across multiple countries, payments are always accurate and that all compliance requirements are met while minimizing the time spent by the HR and accounting departments,” noted Robert Kugel, Senior Vice President and head of Business Research at Ventana Research. “Our Buyers Guide gives organizations a rigorous methodology for evaluating their options.”
The Buyers Guide for Global Payroll is neither sponsored nor influenced by technology vendors and is conducted solely in pursuit of Ventana Research’s mission to provide value to business and IT through the Consulting, Advisory, Research, and Education (CARE) portfolio of services. Ventana Research’s goal is to help guide organizations to optimal efficiency in their use of technology investments for business and IT. Please click here to learn more and read the Buyers Guide for Global Payroll.
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