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.'