Payroll Outsourcing Market Technology Advancement and Business Outlook 2019
Payroll outsourcing is the fastest-growing segment of the global human resource outsourcing (HRO) market. Organizations are rapidly adopting payroll services to achieve cost reduction. They either outsource a single process or the entire services to enhance the existing function. Managing payroll in-house involves high costs. Organizations that maintain an in-house team for tasks such as payroll, time and attendance, workforce administration, and benefits administration spend 20% more than organizations that outsource the same functions.
The majority of payroll outsourcing functions are related to finance and accounting (F&A), human capital management (HCM), and shared service centers. The HR department uses outsourcing services more commonly than any other departments.
The Global Payroll Outsourcing Market size was 8297 million US$ and it is expected to reach 12380 million US$ by the end of 2025, with a CAGR of 6.0% during 2019-2025.
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Payroll Outsourcing Market: ADP, Sage, Xerox, Paychex, Gusto, Intuit, Zalaris, Infosys, KPMG, Vision�H.R., Deloitte, Aurion, Activpayroll, Immedis, Ascender, NGA HR, Neeyamo, BDO, CloudPay, Excelity, i-Admin, TriNet
The report presents an in-depth assessment of the Payroll Outsourcing Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future road map, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Payroll Outsourcing investments from 2019 till 2025.
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This report segments the market on the basis of Types are:
On the basis of Application, the market is segmented into:
This report focuses on the global Payroll Outsourcing status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Payroll Outsourcing development in North America, Europe, China, Japan, Southeast Asia, India and Central & South America.
The market can be segmented into: Full-Managed Outsourcing and Co-Managed Outsourcing. Full-Managed Outsourcing is the most commonly used and efficient types and took 61.58% market share in 2018. By application, Small Business is the largest consumer group, with consumption market share of 40.92% in 2018.
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Influence of the Payroll Outsourcing market report:
–Comprehensive assessment of all opportunities and risk in the Payroll Outsourcing market.
–Payroll Outsourcing market recent innovations and major events.
–Detailed study of business strategies for growth of the Payroll Outsourcing market-leading players.
–Conclusive study about the growth plot of market for forthcoming years.
–In-depth understanding of market-particular drivers, constraints and major micro markets.
–Favorable impression inside vital technological and market latest trends striking the market.
The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
We also offer customization on reports based on specific client requirement:
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2- Free Competitive analysis of any 5 key market players.
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