In today’s dynamic business landscape, characterized by ever-changing regulations and an evolving workforce, offering a modernized pay experience to employees is essential. This experience must be fast, flexible, and personalized to meet the diverse needs of employees. Unified pay solutions address this challenge by seamlessly consolidating global payroll and payments under a single umbrella. Additionally, these solutions empower employees with financial wellness tools and flexible pay options such as Earned Wage Access (EWA). The benefits of unified pay solutions go beyond just operational enhancements. They not only reduce the heavy administrative burden on payroll teams but also elevate the importance of payroll within the organization by providing enhanced control, visibility, and strategic reporting capabilities. For employees, these solutions offer a superior pay experience, making the employer more attractive and modernizing the entire journey of getting paid. Everest Group surveyed 100+ senior executives in payroll, finance, and HR from diverse organizations to understand the current maturity of global payroll operations and examine the significance of unified pay solutions. The analysis provides insights into the challenges that organizations face and how adopting unified pay solutions can transform the future of global payroll for the better. Scope All industries and geographies Contents In this report, we provide: An overview of our research methodology An analysis of the current state of global payroll, including objectives, outsourcing trends, and reasons for buyer dissatisfaction A closer look at unified pay solutions, their role in overcoming global payroll challenges, and the multiple benefits they offer Key enterprise considerations for adopting unified pay solutions A case study illustrating the positive impact of these solutions Membership(s) Human Resources Outsourcing Excellence

In March 2024, US-headquartered HR solution provider Deel, which started out as an Employer of Record (EOR), announced the acquisition of a prominent Africa-based payroll and HR software and services company, PaySpace. The acquisition holds significant market implications: it signals a shift in EOR providers’ ambitions to develop global payroll capabilities and could spur similar M&As in the market. Additionally, we anticipate that the acquisition will propel Deel closer to its goal of creating a full-suite HR platform that addresses employees' payroll, HR, performance, and compliance needs. In this report, we analyze the acquisition’s background and context and its benefits for Deel and PaySpace. We also explore its implications for the EOR and Multi-country Payroll (MCP) markets, including a rise in investments in global employment platforms and intensification of competition in the market. Scope All industries and geographies Contents In this report, we examine: Key trends in the HR outsourcing space Background and context of the acquisition Benefits of the acquisition for Deel Benefits of the acquisition for PaySpace Market implications of the acquisition Membership(s) Human Resources Outsourcing Excellence

In recent years, the Multi-country Payroll (MCP) solutions market has expanded steadily. The payroll function is transforming from a transactional to a strategic role, moving beyond traditional expectations of cost optimization to enhance employee experience. As a result, enterprises are actively seeking providers that can offer them comprehensive solutions rather than just payroll services. Providers are investing to improve the user experience for employees and managers while expanding their service offerings. In this report, we analyze the MCP solutions market, focusing on key growth drivers, buyer adoption trends, and provider investments. The analysis is based on Everest Group’s annual RFI process for the calendar year 2023 (refer to the MCP Solutions PEAK Matrix® Assessment 2023 report for a detailed provider assessment), interactions with leading MCP solutions providers, client reference checks, and an ongoing analysis of the MCP market. Scope  Industry: MCP solutions Geography: global The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading MCP solutions providers, client reference checks, and an ongoing analysis of the MCP solutions market Contents In this report, we analyze: Study the current state of the MCP solutions market Examine buyer feedback, challenges, and provider performance Review the MCP investment themes and provider landscape Discuss the MCP market size, adoption trends, and solution characteristics Membership(s) Human Resources Sourcing and Vendor Management

Today, enterprises worldwide consider global hiring as a business advantage and opportunity, enabling them to gain insights into new markets and access a diverse talent pool. However, navigating global expansion can be a complex and time-consuming process, with organizations contending with new legal systems, tax structures, and global payroll processes. As a result, it comes as no surprise that enterprises have increasingly embraced solutions such as Employer of Record (EOR) in recent years, recognizing it as one of the simplest ways to swiftly enter a new market. An EOR is a third-party organization that assumes responsibility for paying an employee (permanent or temporary) on behalf of another company. Through an EOR, enterprises can efficiently onboard and manage talent without the need to establish an entity in a particular region. In this report, we analyze the EOR market and examine it across various dimensions such as key growth drivers, buyer adoption trends, and provider investments. The report relies on primary and secondary data collection, including conversations with various market participants such as enterprise buyers, outsourcing providers, and EOR specialists. Scope All industries and geographies The report is based on primary and secondary data collection, conversations with market participants (buyers and outsourcing providers), and fact-based research Contents In this report, we analyze: The EOR market landscape, including market size, trends, and use cases Buyers’ take on the EOR market Provider landscape Key investment themes in the EOR market and outlook for market stakeholders Membership(s) Human Resources Sourcing and Vendor Management

Over the past few years, the Multi-country Payroll (MCP) solutions market has experienced steady growth. Economic uncertainties have compelled enterprises to prioritize cost reduction and efficient resource allocation through payroll consolidation. Enterprises, seeking support beyond traditional payroll management, now demand services that go beyond the conventional. In response, providers are investing in expanding their scope of services and incorporating technology to streamline the entire payroll value chain. The Multi-country Payroll (MCP) Solutions Provider Profile Compendium is a companion to Everest Group’s latest study, Multi-country Payroll (MCP) Solutions PEAK Matrix® Assessment 2023. In this report, we provide comprehensive and detailed profiles of 27 MCP solutions providers, covering the providers’ market impact, key organizational developments, technology and service capabilities, delivery footprint, and client portfolio across geographies, industries, and buyer sizes. The compendium will enable providers to benchmark their capabilities against their peers, while buyers will be able to assess the providers based on their capabilities. Scope All industries and geographies Contents In this research, we analyze 27 MCP solutions providers across the following dimensions: Service capability and strategy: company overview, leadership, MCP functional capabilities across geographies, partnerships, key MCP-related developments, technology solutions, and the MCP FTEs spread worldwide Client portfolio: total number of clients and pay slips processed, major clients, pay slips split by geography, and client split by countries in scope, industry, and buyer size Country coverage: countries covered by each provider on its own and through in-country partners from payroll technology and services perspective Everest Group assessment: positions providers on Everest Group’s PEAK Matrix® Membership(s) Human Resources Sourcing and Vendor Management

Today, organizations are actively assessing employee sentiment and gathering feedback. As technology advances, multiple listening posts emerge, providing organizations with the means to capture employee sentiment and gauge engagement. Listening to employees continuously is vital, especially as the war for talent is expected to persist. Employee Experience Management (EXM) platforms assist various enterprise stakeholders, such as senior leaders, HR business partners, and team managers, to measure employee experience and provide them with the tools to swiftly act upon data-generated insights. The Employee Experience Management (EXM) Platforms Provider Compendium 2023 is an add-on to Everest Group’s recently published Employee Experience Management PEAK Matrix® Assessment 2023 report. The compendium provides comprehensive and fact-based profiles of 21 EXM platform providers. Each profile provides an overview of the provider’s products, key clients and partnerships, and client portfolio across geographies, industries, and buyer sizes, along with product capabilities and key developments. The compendium will enable technology providers to benchmark their strengths against their competitors while EXM buyers will be able to assess the providers on their desired set of capabilities. Scope All industries and geographies The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading EXM platform providers, client reference checks, and an ongoing analysis of the EXM platform market Contents In this report, we: EXM service capability and strategy – company overview, leadership, EXM functional capabilities across geographies, partnerships, key EXM-related developments, technology solutions, and the spread of EXM FTEs worldwide EXM client portfolio – total number of clients, major clients, and client split by geography, industry, and buyer size Detailed assessment of EXM capabilities – Everest Group’s assessment of provider performance on each of the PEAK Matrix delivery capabilities, along with key strengths and limitations Membership(s) Human Resources Sourcing and Vendor Management

The Employer of Record (EOR) Provider Compendium 2023 – Update is a companion to Everest Group’s recently published Employer of Record (EOR) Solutions PEAK Matrix® Assessment 2023. This compendium provides comprehensive and fact-based snapshots of 20 EOR providers, along with the providers’ company snapshots, services, technology capabilities, and client portfolios across geographies, industries, buyer sizes, and key developments. In addition, each profile specifies the provider’s position on Everest Group’s PEAK Matrix ® and offers an insightful analysis of its capabilities. The compendium will enable EOR providers to benchmark their capabilities against their competitors, while buyers will be able to assess the providers based on their desired set of capabilities. Scope All industries and geographies Contents In this report, we evaluate EOR providers on their: Recent investments and announcements Market adoption and capabilities Client portfolio mix Platform features, functionalities, and key enhancements Capabilities across PEAK Matrix dimensions Key strengths and limitations Membership(s) Human Resources Sourcing and Vendor Management

The third-party market for Business Process Services (BPS) has significantly evolved over time, with innovation playing a vital role in driving this progress. The term innovation is frequently used in the BPS context, but its meaning is not always clear. This viewpoint defines innovation in BPS and highlights its key elements: people, technology (including the data component), operating model, and process excellence. A strong governance and commercial incentives mechanism support these elements. Additionally, we have developed a maturity framework to outline various levels of innovation based on the specific characteristics of the BPS engagement. This framework allows providers and enterprises to evaluate the maturity of their BPS engagement. In this viewpoint, we understand innovation in a BPS engagement and aid providers and enterprises in fostering sustained innovation. The report also provides best practices and examples of how innovation is being cultivated in BPS constructs. Scope All industries and geographies Contents In this report, we: Explore the importance of BPS and its evolution over the years Define innovation in BPS and outline key elements of innovation Establish the innovation maturity framework Present best practices for adopting innovation in BPS engagements Membership(s) Procurement and Supply Chain Finance and Accounting Human Resources Service Optimization Technologies Sourcing and Vendor Management

The Multi-country Payroll (MCP) solutions market has expanded steadily over the last few years. The economic uncertainty has made enterprises focus on cost reduction and resource allocation. Enterprises are now seeking assistance beyond just conventional payroll management. In response to this demand, providers have evolved their portfolio by offering flexible pricing models and easy scalability. MCP providers are empowering enterprises by extending cost-effective, compliant, and strategic solutions. This report assesses 27 MCP providers and positions them on the MCP Solutions PEAK Matrix® as Leaders, Major Contenders, and Aspirants based on their market impact and vision & capability. As the market has seen an uptick in regional consolidation in the past few years, we have included regional cuts for EMEA and APAC in the report to help enterprises in their regional sourcing decisions. In addition, the report includes sourcing considerations for enterprises that highlight the providers’ key strengths and limitations. Scope: Industry: MCP solutions Geography: global This assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading MCP providers, client reference checks, and an ongoing analysis of the MCP solutions market Contents: In this report, we examine: The relative positioning of providers on Everest Group’s PEAK Matrix® for MCP Solutions across global, EMEA, and APAC regions Provider landscape Providers’ key strengths and limitations Membership(s) Human Resources Multi-country Payroll Sourcing and Vendor Management

Expanding globally is often a multifaceted and time-consuming process that requires organizations to navigate unfamiliar legal systems, tax structures, and global payroll procedures. As enterprises aim to tap into the advantages of hiring talent globally, managing and paying employees compliantly across multiple countries can become a formidable challenge. Therefore, one of the simplest ways for enterprises to swiftly enter a new market is to utilize an Employer of Record (EOR) service. An EOR partner empowers companies to legally engage with workers in a new country or region without the need to establish a separate legal entity or risk violating local laws. In this report, we analyze 20 providers on the Everest Group PEAK Matrix® for EOR solutions and categorize them as Leaders, Major Contenders, and Aspirants. The research will help providers benchmark their capabilities against competitors, while buyers will be able to evaluate the different providers based on their sourcing needs. Scope All industries and geographies The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading EOR providers, client reference checks, and an ongoing analysis of the EOR market Contents In this report, we examine: Everest Group’s PEAK Matrix® evaluation of EOR providers and their categorization as Leaders, Major Contenders, and Aspirants Top EOR providers across geographies and industries EOR providers’ key strengths and limitations Membership(s) Human Resources Sourcing and Vendor Management