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Global payroll outsourcing market size and services become safe at CAGR of 4.4% over 2016-2020

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.

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MarketResearchReports.Biz Announced New Research And Forecast On "Global Payroll Outsourcing Market 2016-2020"

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.

Technavios analysts forecast the global payroll outsourcing market to grow at a CAGR of 4.4% during the period 2016-2020.

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Covered in this report

The report covers the present scenario and the growth prospects of the global payroll outsourcing market for 2016-2020. To calculate the market size, the report considers the revenue generated from payroll services outsourced to third-party service provider.

The market is divided into the following segments based on geography:
APAC
Americas
EMEA

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Technavio's report, Global Payroll Outsourcing Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.

The report also includes a discussion of the key vendors operating in this market.

Key vendors

ADP
Ceridian
Genpact
NGA
Workday

Other prominent vendors

Accenture
Caliber Point
Cegadim SRH
CGI
Excellerate HRO
HP
HR Access
IBM
Infosys
Logica
Neeyamo
Paychex
Ramco Systems
Safeguard
Steria
TDS
Workday

Market driver

Need for payroll cost visibility
For a full, detailed list, view our report

Market challenge

Inability to offer proven services
For a full, detailed list, view our report

Market trend

Improved usage of technology
For a full, detailed list, view our report

Key questions answered in this report

What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

You can request one free hour of our analysts time when you purchase this market report. Details are provided within the report.

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