Morneau Shepell Inc. Strengths, Domain Expertise, and Key Differentiators
Morneau Shepell is a provider of technology-enabled HR services that deliver an integrated approach to well-being through a cloud-based platform. The focus is on providing everything clients need to support the mental, physical, social and financial well-being of their people.
Morneau Shepell Inc. Recent Developments
In July 2018, Morneau Shepell acquired LifeWorksCorporation Limited. LifeWorks is a global employee assistance program provider, offering employee assistance, wellness, recognition and incentive programs in Canada, the UnitedStates, the United Kingdom and Australia.
The acquisition allowed Morneau Shepell's Well-being line of business to deliver an expanded set of well-being services, as well as bolster the company's geographic footprint through LifeWorks established presence in the U.S., U.K., Australia and Canada. Morneau's Ability Absence solution uses Presagia's absence compliance engine to support managing absence, leave and disability processes.
Morneau Shepell Inc. Mergers and acquisitions (M&A) Activities
On March 1, 2020, the Company sold its benefits consulting business to HUB International Limited for a purchase price of $70,000 subject to working capital adjustments. $67,535 was received on closing, with the remainder to be received over the next 24 months once all the working capital adjustments and holdback conditions have been satisfied.
The divestiture aligns with the Company’s growth strategy, which includes being a clear market leader in the businesses in which we operate, owning the total well-being space, accelerating growth through geographic expansion and leveraging technology to deliver a seamless experience for clients and their employees.
The benefits consulting business represented approximately 3% of the Company’s consolidated revenue for the year ended December 31, 2019. The exited business was considered to be part of the Health & Productivity Solutions line of business and consisted of working capital, capital assets, intangible assets, and goodwill.
In May 2019, Mercer reached an agreement with Morneau Shepell to acquire Mercer’s stand-alone US large market health and defined benefit (DB) administration business. The agreement does not include Mercer’s Mercer Marketplace 365, Mercer Marketplace 365+, mid-market health benefits administration, co-sourcing, and mid-market DB administration clients or health benefit administration for Mercer’s global clients who have employees in the United States.
Morneau Shepell Inc. Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Morneau Shepell Inc. applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Morneau Shepell Inc. and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified LifeWorks, Benefit Administration customers.
Morneau Shepell Inc. Overview
Ownership: - TSE : MSI
Number of Employees: 6000
Functional Market: Absence and Leave Management, Benefits Administration, Pension Administration, Compliance, Performance and Goal Management, Learning and Development, Compensation Management,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith Based Nonprofit, Youth and Elderly Care Nonprofit, Special Cause Nonprofit, Oil and Gas, Professional Services, Retail, Transportation, Utilities,
Morneau Shepell Inc. Key Cloud and HCM Applications
LifeWorks, Benefit Administration
Morneau Shepell Inc. HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2018 | 2019 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Morneau Shepell Inc. Revenue Breakdown by Type:
| Type | License | Services | Hardware | Support & Maintenance | SaaS |
|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
Morneau Shepell Inc. HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % | 2019 HCM Revenues, By Sub-Functional Markets, $M | |
Morneau Shepell Inc. HCM Applications Revenues By Verticals, $M:
Morneau Shepell Inc. Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2019 Total Revenues, $M | 2019 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
Morneau Shepell Inc. Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Morneau Shepell Inc. Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Morneau Shepell Inc. Customers
No. of Morneau Shepell Inc. Customers: 24000
No. of Morneau Shepell Inc. HCM Applications Customers: 7000
No. of Morneau Shepell Inc. Cloud HCM Customers: 7000
No. of Morneau Shepell Inc. Cloud HCM Subscribers: x
Morneau Shepell serves 24000 client organizations that use Morneau Shepell services in 162 countries. With the LifeWorks acquisition, Morneau Shepell added 4200 customers to their portfolio.
Morneau Shepell Inc. Market Opportunities, M&A and Geo Expansions
In 2019, Morneau Shepell realigned some responsibilities and people across its core lines of business following the LifeWorks Corporation Ltd. (“LifeWorks”) acquisition and towards the goal of being more responsive to changing client needs. Today the company has four operating segments, consistent with our four core lines of business, named as follows: Well-Being Solutions, Administrative Solutions, Retirement Solutions, and Health and Productivity Solutions.
Also, acquisition of LifeWorks opened new doors for Morneau Shepell, meaning the strategic acquisition expands Morneau Shepell's presence outside North America with customers in Australia and UK.
Morneau Shepell Inc. Risks and Challenges
Revenues depend heavily on services.
Morneau Shepell Inc. Ecosystem, Partners, Resellers and SI
Through strategic acquisitions in the past two years, Morneau Shepell has significantly expanded its geographic market space and solutions portfolio. The Company is better positioned today to provide solutions on a global basis, including support for multinational enterprises seeking consistent quality in their well-being strategies that cross borders and serve large workforce populations. Morneau Shepell expect acquisitions and strategic partnerships to play a continuing role in their expansion, supplementing our focus on driving organic growth in all core lines of business.
Morneau Shepell Inc. Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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