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Remote Work Infrastructure
Overview
Not long ago, remote work was a disruptive new phenomenon of the modern working world; today, it’s a standard component of nearly every industry, and the traditional office space has been transported to anywhere in the world with access to a laptop and an internet connection. With the outbreak of the Covid-19 pandemic, the already trending remote work movement has accelerated sharply, subsequently altering the conversation around productivity best practices, team structures, workplace culture, and business models. Remote work infrastructure tools are vital for efficiently managing payroll, employment, benefits, and employee engagement in distributed teams. They ensure accurate payroll processing, handle tax compliance, and manage various employee benefits.
Industry Updates
Market Sizing
Global market size for remote work infrastructure tools could reach USD 4.0–6.2 billion by 2028
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Market Mapping
A majority of the incumbents feature in the integrated HRM, payroll, and benefits as well as the integrated performance and engagement segments. This includes large players such as Workday, SAP, Paycom, and Paylocity. With a handful of startups in the expansion stage, Oracle corporation is the only incumbent in the intranet platforms segment. The pure play payroll and benefits segment is occupied by CloudPay and Clune Technology Group and mostly includes go-to-market -stage disruptors.
Many disruptors in the integrated HRM, payroll, and benefits segment are quite mature and, therefore, a large contingent is in the growth stage. The integrated performance and engagement segment features the largest group of minimum viable product-stage companies, as the use of cloud-based employee engagement and performance software has received increased attention since the Covid-19 pandemic. Meanwhile, the EOR/PEO segment has the smallest number of startups that are primarily in the expansion stage offering contingent workforce management solutions.
Integrated HRM, Payroll, and Benefits Platforms
EoR/ PEOs
Integrated Performance and Engagement Platforms
Pure Play Engagement Platforms
Pure Play Payroll and Benefits Platforms
Intranet Platforms
The Disruptors
Companies in the Integrated HRM, payroll, and benefits segment account for most of the funding in the space. Established companies such as Gusto and Deel lead the segment in funding among private players with USD 746 and USD 679 million, respectively. Meanwhile, the integrated performance and engagement segment accounts for the majority of startups. Culture Amp and Personio lead the segment in terms of funding among private companies. Intranet platforms funding is led by Staffbase and LumApps.
Moreover, addition of AI and generative AI (GenAI) features have improved digital payroll and engagement platforms by automating tasks and providing personalised insights.
Funding History
Competitive Analysis
Incumbents
The incumbent players in this space are well-established companies that have been providing human capital management (HCM) solutions for decades. All incumbents have a strong track record of establishing fully-fledged offerings. They also offer a diverse range of solutions, with a variety of customizable packages that cater to businesses of all sizes. All incumbents offer a cloud-based solution similar to those that up-and-coming startups offer.
Incumbents like SAP, ADP, and Paychex are leading in the Remote Work Infrastructure space by offering comprehensive solutions for payroll, HR management, and employee engagement. They provide robust platforms that support remote workforces with tools for seamless communication, accurate payroll processing, and effective performance management.
Notable Investors
