OneSource Virtual

OneSource Virtual

BPaaS provider automating Workday processes

Overview

OneSource Virtual provides Business Process as a Service (BPaaS) tailored for Workday users. Its cloud-based offerings cover payroll, HR administration, benefits administration, and financial management, delivered through automated, end-to-end services that customers subscribe to. The product works by combining automation with Workday-focused processes to streamline and manage core HR and finance workflows from a single outsourced service, reducing manual work and enabling faster, more accurate operations. Compared with traditional outsourcing, OSV centers its service around a Workday-enabled BPaaS model and scalable, automated processes, allowing for consistent delivery across clients of various sizes and industries. The company’s goal is to help organizations lower operating costs, improve accuracy, and boost productivity by providing comprehensive, automated HR, payroll, and financial management in the cloud through a customer-centric service experience.

About OneSource Virtual

Simplify's Rating
Why OneSource Virtual is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Data & Analytics

Consulting

Enterprise Software

Company Size

501-1,000

Company Stage

Series B

Total Funding

$165M

Headquarters

Dallas, Texas

Founded

2008

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Simplify's Take

What believers are saying

  • TA Associates' investment accelerates AI product enhancements.
  • Safeguard Global Pay partnership expands global payroll suite.
  • Pinwheel enables direct deposit switching for 1,000 employers.

What critics are saying

  • Cognizant acquisition destroys OSV's Workday specialization.
  • Workday's native AI modules cause 30-50% client attrition.
  • ADP bundles leave management, capturing OSV's client growth.

What makes OneSource Virtual unique

  • OSV pioneered BPaaS model for Workday since 2008.
  • OSV serves 1,400 Workday customers with payroll and benefits.
  • OSV delivers end-to-end automation beyond traditional BPO.

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Funding

Total Funding

$165M

Above

Industry Average

Funded Over

2 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Above Average

Industry standards

$35M
$45M
Linktree
$65M
Substack
$100M
ClickUp
$150M
OneSource Virtual

Benefits

Remote Work Options

Professional Development Budget

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

-2%

2 year growth

-1%
FinanzNachrichten.de
Jan 7th, 2026
TA Associates takes majority stake in Workday services provider OneSource Virtual

OneSource Virtual (OSV), a provider of HR and payments services for the Workday ecosystem, has announced a strategic majority investment from TA Associates. OSV founders, management and employees will retain a significant minority stake, whilst existing investors Halyard Capital and TCV will fully exit. Founded in 2008, OSV serves over 1,400 Workday customers, providing payroll, tax, earned wage access, accounts payable and benefits services. The company has grown its client base by 20% annually since 2020. The investment will support OSV's organic growth, product innovation and enhanced customer capabilities across the Workday ecosystem. TA Associates plans to expand OSV's product capabilities, including AI-enabled enhancements, and introduce operational initiatives to improve customer experience. Financial terms were not disclosed.

ACCESS Newswire Inc.
Feb 19th, 2025
OneSource Virtual Introduces Expanded Leave Administration Services Powered by AbsenceSoft

OneSource Virtual introduces expanded Leave Administration Services powered by absencesoft.

PR Newswire
Jun 12th, 2024
Safeguard Global Pay And Onesource Virtual Elevate Partnership To Offer Enhanced Payroll Suite For Workday Users

AUSTIN, Texas, June 12, 2024 /PRNewswire/ -- Today, Safeguard Global Pay and OneSource Virtual, two leading providers of HR and payroll solutions, are excited to announce the expansion of their partnership. This collaboration aims to deliver a comprehensive Payroll Suite tailored for Workday users, reaffirming their dedication to simplifying and enhancing HR and payroll processes for organizations worldwide.As a Workday-exclusive partner, OneSource Virtual is keenly focused on streamlining operations across HR, payroll, and finance for Workday customers. OneSource Virtual solutions provide a unique mix of technology and service to reduce administrative burdens, improve accuracy, and increase efficiency. Nearly 900 Workday Payroll customers partner with OneSource Virtual for payroll administration, payroll tax, garnishment services, and more.Safeguard Global Pay has solidified its position as a global workforce compliance and payroll specialist. Its mission is to facilitate seamless, efficient, and compliant global employment for companies of all sizes. With a strong emphasis on guiding organizations through the intricacies of global payroll and compliance, Safeguard Global Pay is dedicated to streamlining HR operations for their clients.Valerie Tazelaar, Payroll Director at FICO and longtime mutual customer, emphasized the partnership's benefits, stating: "You're working with a team of people that knows your organization

TCV
Feb 29th, 2024
OSV | TCV

Partnering with exceptional teams to build category-defining technology companies

PR Newswire
Nov 29th, 2023
Millions Of Us Workers Can Move Their Direct Deposit In Seconds With Pinwheel'S Breakthrough Direct Deposit Switching (Dds) Product, Powered By The Industry'S First-Ever Api-Driven Payroll Provider Partnership With Workday Service Provider Onesource Virtual (Osv)

As banks vie for customer primacy, Pinwheel and OSV created a solution that gives financial institutions a competitive edge: a new payroll partner-based experience that instantly identifies and authenticates U.S. workers' payroll records within the new bank account application workflow.This completely frictionless experience will power easy direct deposit switching for millions of US workers at approximately 1,000 employers across America. Now, US workers can seamlessly move their money to the financial institution with the best rates and products, including popular Pinwheel customers such as American Express, Cash App, and Citizens.NEW YORK, Nov. 29, 2023 /PRNewswire/ -- Today Pinwheel, the fintech helping banks win primacy through automated direct deposit switching and instant account funding, and One Source Virtual (OSV), a top 5 payroll provider and one of the fastest-growing payroll providers in the United States, formed the industry's first announced partnership between an API company and a payroll company. The partnership is the start of Pinwheel's creation of a first-of-its-kind network of payroll providers, which will power a frictionless, login-free DDS experience. This alliance marks a significant inflection point for financial services and responds to growing consumer demand for more transparency, control, and portability over their banking relationships.Mainstream adoption of seamless, near-instant deposit switching gives consumers new agility to freely move around the financial system and ushers in a new era of healthy competition among banks and fintechs

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