TMF Group found to have the widest geographic coverage worldwide and to be one of the strongest multi-country payroll providers in Latin America
23 March 2015 - TMF Group, a leading provider of high value Global Business Services to clients operating and investing internationally, has been named as a ‘Major Contender’ by market analyst, Everest Group Research, in its annual assessment of the MCPO market: Multi-Country Payroll Outsourcing (MCPO) Service Provider Landscape with PEAK Matrix Assessment (2015).
The report found that TMF Group is one of the world’s largest multi-national payroll providers and has the widest geographic coverage with a foot-print in over 80 countries. It was also considered to have the strongest multi-country payroll offering in Latin America.
The annual report by Everest includes analysis of 16 global payroll service providers that serve ‘one of the fastest growing markets within the HR space’. The report estimates that the payroll market grew by approximately 20% in 2014 to reach US$1.2billion in annualised revenue.
Everest uses its PEAK matrix as a framework against which to assess the relative market success and overall capability of service providers. Service providers are positioned on the PEAK matrix based on evaluation across two key dimensions: market success and delivery capability. According to Everest, ‘buyers need to look at the provider’s offer spectrum in its entirety to drive maximum cost and business impact for their organisation.’
Commenting on the results, Deborah Williams, Head of TMF Global Business Services said:
“Obviously, this is a great result for TMF Group and validates what we, and our many clients, already know – that TMF is a major and successful contender in the multi-country payroll market. We are improving our offering all the time; enhancing our delivery capability and working on technological solutions to increase our scope of services.
"Strategically, it also heralds a new era in TMF Group's outsourced payroll offer, with us now recognised as a significant player in dealing payroll in diverse locations alongside our other Global Business Services."
Other highlights for TMF Group include:
- one of the largest multi-country payroll providers
- 30% share of active MCPO deals
- very large client base of over 2,300 clients
- widest geographic coverage where it executes payroll through its own capabilities
- one of the strongest multi-country payroll providers in Latin America
- specialists in small-sized clients (less than 3,000 employees)
To view the full report, please visit Everest Group’s website: https://research.everestgrp.com/Product/EGR-2015-3-R-1396/
For further information, please contact:
Justin Griffiths, Karen Le Cannu or Georgianna Vaughan
Powerscourt
Tel: +44 (0) 20 7250 1446
tmf@powerscourt-group.com
About TMF Group:
TMF Group is a leading global provider of high value business services to clients operating and investing internationally. It focuses on providing highly specialised and business-critical financial, legal and human resource administrative services that enable clients to operate their corporate structures, finance vehicles and investment funds in different geographical locations. TMF Group has operations in more than 80 countries across the Americas, Asia Pacific, Europe, the Middle East and Africa.
www.tmf-group.com