Alight named a Leader in Everest Group’s Global Multi-Country Payroll (MCP) Solutions PEAK Matrix® 2023
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Insights
The recognition of Alight, Inc. as a Leader in Everest Group’s Global Multi-Country Payroll (MCP) Solutions PEAK Matrix® 2023 signals a robust strategic positioning within the human capital and technology services sector. This accolade is indicative of the company's effective deployment of cloud-based solutions and AI to streamline payroll operations on a global scale. Such advancements may lead to enhanced market competitiveness and potentially increase the company's market share.
From an investment perspective, Alight's expansion and innovation in payroll services are likely to drive operational efficiencies and may result in cost savings for their clients. This can translate into stronger client retention and an attractive value proposition for new customers. The integration of proprietary technology like Alight Pay and the expansion of strategic partnerships, including with Workday, SAP SuccessFactors, Oracle and Kronos, could broaden the company's revenue streams and fortify its growth trajectory.
Furthermore, the emphasis on data security and regulatory compliance in multi-country payroll solutions addresses a critical need for enterprises operating internationally. This focus is particularly relevant given the increasing complexities of global data protection regulations such as GDPR, suggesting that Alight's services are well-tailored to meet these evolving demands.
Alight's Leader status in the PEAK Matrix® is a strong indicator of the company's financial and operational health, which is likely to resonate positively with investors and stakeholders. The company's proprietary technology and strategic partnerships are investments that could yield significant returns through differentiation and scalability of services.
Alight's ability to offer a centralized employee experience platform, Alight Worklife, enhances its competitive edge and may lead to cross-selling opportunities within its existing client base. The platform's ability to integrate payroll, benefits and wellbeing, coupled with tools providing transparency and insights into global labor spend, is likely to be a compelling factor for enterprises looking to optimize their human capital management.
However, the market for MCP solutions is highly competitive and maintaining a leadership position will require continuous innovation and investment in technology. Alight's future performance will depend on its ability to execute its expansion plans, manage operational costs and continue to deliver high-quality, consistent services across diverse geographies.
Alight's advancements in automation and AI, such as Eloise and Ask Lisa, are significant as they represent the company's commitment to innovation in the payroll service industry. The use of AI for anomaly detection and virtual assistance can significantly reduce errors and enhance user experience, which are critical factors for client satisfaction and retention.
The proprietary cloud-based payroll calculation engine, Alight Pay, is noteworthy for its potential to disrupt traditional payroll processing methods. Its planned expansion to additional geographies indicates a strategic move to capitalize on the growing demand for efficient and scalable payroll solutions.
Moreover, Alight's Automation Anywhere feature and the Alight Digital Wallet for earned wage access (EWA) demonstrate the company's foresight in adopting technologies that cater to the evolving needs of the workforce. These technological enhancements are likely to serve as key differentiators and could drive long-term growth for Alight in a rapidly digitalizing global economy.
Alight's commitment to delivering transformational outcomes through end-to-end capabilities, coupled with its global perspective and local expertise, positions the company as a leading provider for enterprises seeking innovative and efficient multi-country payroll solutions
Everest Group evaluated 27 MCP providers that offer solutions to address regulatory, legal and cultural complexities for enterprises managing payroll across multiple countries. Leaders were ranked based on the ability to deliver employee-centric solutions that provide greater flexibility to clients through customization, as well as investments in proprietary technology, data security and partnerships.
In addition to Alight’s Global Payroll solution, Alight’s recent expansion of its strategic partnership with Workday to bring a simplified and unified payroll experience globally, as well as additional partnerships with leading Human Capital Management (HCM) systems including SAP SuccessFactors, Oracle and Kronos were recognized as strengths.
Alight’s automation and AI capabilities were also highlighted by Everest Group as key differentiators, including:
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Eloise, a patented algorithm which helps companies analyze historic pay data to detect, classify and correct anomalies to help companies deliver payroll with
100% quality consistency across their entire work population. - Ask Lisa, an AI-based virtual assistant which responds to employees specific, personalized information such as spending account claim decisions to debit card status and more.
- Alight Pay, the company’s proprietary, cloud-based payroll calculation engine, which is currently available in ten countries, with plans to continue expanding availability to additional geographies in 2024.
- Alight’s Automation Anywhere feature which facilitates the seamless automation of country- or client-specific custom payroll transactions.
Moreover, the Alight Worklife platform stood out as a market differentiator, allowing employers to deliver a centralized employee experience that integrates payroll, benefits and wellbeing. The platform also facilitates payment distribution for net-pay deposits and third-party payments through Alight Payment Services and earned wage access (EWA) via the Alight Digital Wallet. Complementing these features, Alight offers transparency into payroll and integration data through tools like Alight Analyze for global labor spend insights and the Alight Access and Exchange Dashboard, providing comprehensive visibility into the end-to-end integration between cloud HCM and payroll processes.
“Our clients are looking for truly global payroll solutions while still accounting for local nuances and are turning to Alight to help them simplify and standardize across regions while providing them with total control and visibility over their end-to-end processes,” said Luca Saracino, executive vice president of payroll and professional services at Alight. “Clients want a flexible, yet consistent service model that takes into consideration their needs in the
Alight has also achieved a Leader status in the EMEA region and has been recognized as a Major Contender in APAC, a focused area of growth, in Everest Group’s Global Multi-Country Payroll (MCP) Solutions PEAK Matrix® 2023.
To learn more about Alight Global Payroll, visit https://www.alight.com/solutions/payroll/global-payroll.
About Alight Solutions
Alight is a leading cloud-based human capital technology and services provider that powers confident health, wealth and wellbeing decisions for 36 million people and dependents. Our Alight Worklife® platform combines data and analytics with a simple, seamless user experience. Supported by our global delivery capabilities, Alight Worklife is transforming the employee experience for people around the world. With personalized, data-driven health, wealth, pay and wellbeing insights, Alight brings people the security of better outcomes and peace of mind throughout life’s big moments and most important decisions. Learn how Alight unlocks growth for organizations of all sizes at alight.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240111371981/en/
Mariana Fischbach
mariana.fischbach@alight.com
Source: Alight Solutions
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