Palkeet

What Palkeet does

Palkeet (legal name: Valtion talous- ja henkilöstöhallinnon palvelukeskus Palkeet) is the Finnish Government Shared Services Centre for Finance and HR, a statutory agency operating under the Ministry of Finance. Established by the Act on the Finnish Government Shared Services Centre for Finance and HR (8 February 2019/179), it provides centralized financial administration, HR administration, and expert/advisory services to Finnish state government agencies and institutions. The organization is headquartered in Joensuu and operates additional offices in Helsinki (Pasila), Hämeenlinna, Mikkeli, and Pori, employing approximately 700 staff.

Palkeet delivers three core service lines — Financial Services (accounts payable/receivable, debt collection, financial reporting for 70 accounting units), HR Services (payroll for ~75,000 state employees, employment-relationship management, recruitment support, ~0.4 million travel claims annually), and Expert Services (reporting, analytics, intelligent automation) — supported by an integrated platform stack: Kieku (HR Master, SAP HCM), M2 Blue travel/expense management (Visma Aquila), Handi supplier portal, Osaava competence management, Pointti service request platform, Paletti customer extranet, Tutka/HenkilöstöBaro HR surveys, Tahti employer HR information system, and Turvaviesti secure email. Palkeet maintains over 180 software robots for process automation, with a documented reference deployment automating co-funded project revenue accruals for Luonnonvarakeskus (Luke).

Revenue is funded entirely through Finnish government appropriations and inter-agency service charges under Palkeet's statutory mandate; no commercial pricing applies. The ongoing 'Yhtenäistämmä HR-prosesseja' (Harmonizing HR Processes) program running 2023–2030 is centralizing operational HR tasks from individual agencies and migrating from Kieku/SAP HCM to a cloud-based HR Master system, making it the defining strategic initiative for the entity. Geographic scope is restricted to Finland.

Name

Palkeet

Legal name

Valtion talous- ja henkilöstöhallinnon palvelukeskus Palkeet

Website

https://www.palkeet.fi/

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Palkeet is the Finnish Government Shared Services Centre for Finance and HR, a statutory agency under the Ministry of Finance providing centralized payroll, financial administration, and HR services to Finnish state agencies serving approximately 75,000 government employees.

Ownership category

akta.pro rank

Product category

Government Finance and HR Shared Services

NAICS

Payroll Services (541214), Office Administrative Services (5611)

SIC

Services-Business Services, Nec (7389), Services-Facilities Support Management Services (8744)

akta.pro primary industry

Expense Reimbursement & Employee Payments Administration (BPAAAHAK)

akta.pro secondary industry

Contractor Payroll, Invoicing & Payment Services (BPACAGAD)

Keywords

• Government shared services
• Finance administration
• HR administration
• Payroll processing
• Public sector services

Headquarters

HQ city

Joensuu

HQ country

Finland

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Others

Revenue model

1. Government Shared Services Funding: Palkeet operates as a government shared services centre under the Ministry of Finance. Services are funded through government appropriations and service agreements with customer agencies. The Act on the Finnish Government Shared Services Centre for Finance and HR (8 February 2019/179) defines its statutory mandate to provide finance and HR administration services to state organizations. Revenue is not commercially derived but through government budget allocations and cost-sharing arrangements with customer agencies.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Palkeet is the Finnish Government Shared Services Centre for Finance and HR, operating under the Ministry of Finance to provide centralized financial administration, HR administration, and expert services to Finnish state government agencies. It processes payroll for approximately 75,000 government employees, handles around 1.3 million purchase invoices, 0.6 million sales invoices, and 0.4 million travel expense claims annually. Services are delivered through statutory service agreements under the Act on the Finnish Government Shared Services Centre for Finance and HR (8.2.2019/179).

Product overview

Palkeet operates as a unified shared services center providing integrated financial and HR administration services to Finnish government organizations. The portfolio includes three core service lines (Financial Services, HR Services, Expert Services) supported by multiple digital platforms: Kieku-portaali for HR master data and payroll (processing ~75,000 state employees), Pointti for customer service requests, Paletti as the customer extranet, Matkapalvelu/M2 for travel management, ePalkkio ja matka for fee and travel invoicing, Osaava for competency management, HenkilöstöBaro ja Tutka for HR surveys, Handi for supplier management, and Turvaviesti for secure communications. The ongoing 'Yhtenäistämme HR-prosesseja' initiative (2023-2030) aims to standardize HR processes across government and modernize underlying systems.

Differentiator

Problem solved

Functional benefit

Brands

• Pointti: Customer service and support portal for Palkeet services, including service requests and expert chat functionality.
• Paletti
• Osaava
• Kieku
• Tahti
• HenkilöstöBaro
• Tutka
• ePalkkio ja matka
• Matka
• MatkaPlus
• Handi

Quantifiable outcome

• ~0.4 million travel expense claims handled annually with automation support
• +2 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability1 record

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Visma Aquila OycoreTechnology or IntegrationVisma Aquila Oy provides and maintains the M2 Blue travel and expense management system used by Palkeet for government travel claims processing. Palkeet discloses this partnership in its data protection statement for the eFee and Travel service, noting that personal data is disclosed to Visma Aquila Oy for maintenance and support of the M2 Blue system. The M2 system is used by government employees for travel expense claims.
• Koodiviidakko OycoreTechnology or IntegrationKoodiviidakko Oy processes personal data on behalf and for the benefit of Palkeet in producing customer and stakeholder newsletter distribution services. This is governed by a separate agreement defining Koodiviidakko's role as a data processor under GDPR.
• Other Finnish Public Sector Service Centres (Talpa, Certia, Monetra, Meita, Provincia, Espoo, Suomen Taloushallintoliitto)minorStrategic or Co-development PartnerPalkeet collaborates with other Finnish public sector shared service centres including Talpa, Certia Oy, Monetra Oy, Meita Oy, Provincia, and Espoo on shared development, contingency planning, procurement, and system development. These organizations form the ecosystem of public administration service centres in Finland.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Statens Servicecenter (Sweden): Sweden's central government shared services agency providing finance, HR and payroll administration to Swedish state authorities. Operates the same statutory shared-services mandate as Palkeet for a neighboring Nordic state, with similar payroll, accounts payable and HR master-data functions.
• Statens Servicecenter (Norway): Norwegian central government shared services center delivering finance, HR and payroll services to Norwegian state agencies. Closest functional peer to Palkeet in the Nordic model of centralized state back-office operations.
• NHS Shared Business Services: UK joint venture between the NHS and Sopra Steria providing finance, payroll, procurement and HR shared services to NHS bodies. Comparable as a public-sector shared services center delivering high-volume transactional finance and payroll at scale.
• KMD: Danish public sector IT and shared services provider delivering payroll, HR, finance and case-management software to Danish municipalities and state entities. Closely comparable public-sector IT and back-office operator in a Nordic market.
• Talpa (Valtion tieto- ja viestintätekniikkakeskus): Finnish central government's ICT shared services center under the Ministry of Finance. Sister agency to Palkeet within the same ministry, providing centralized ICT services to state organizations — directly comparable as a Finnish government shared-services mandate.
• Monetra Oy: Finnish public-sector financial shared services company providing financial management and payroll services to municipalities, joint municipal authorities and healthcare organizations. Comparable as a Finnish in-house financial shared services provider operating in the same market.
• Certia Oy: Finnish public-sector shared services company providing financial and payroll administration to municipalities and joint municipal authorities. Provides finance and payroll shared services to Finnish public-sector entities, comparable in service scope to Palkeet.
• Meita Oy: Finnish public-sector financial and HR shared services company serving joint municipal authorities, particularly in the social and health sector. Comparable Finnish public-sector finance and HR shared services provider.

Broad incumbents

• SAP SuccessFactors: Enterprise cloud HR and payroll suite used globally, including by public-sector HR master systems. Relevant incumbent vendor whose cloud HR platform is being evaluated by Palkeet as the successor to Kieku/SAP HCM in its 2030 migration.
• Workday: Cloud-based enterprise HR, payroll and finance platform serving large public- and private-sector employers. Relevant incumbent technology peer against which Palkeet's future cloud HR Master system will be benchmarked and selected.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/palkeet
• Instagraminstagram.com/palkeetfi
• Xx.com/palkeetfi

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Palkeet