Global Payroll Outsourcing Services Market Research Report 2017 Payroll outsourcing is one of the fastest-growing segments of the global BPO market. Players with established client base in F&A outsourcing and call center outsourcing are trying to expand their services in payroll outsourcing.
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Payroll outsourcing Services 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 set of services to enhance the existing function. Most of the payroll outsourcing functions are related to finance and accounting (F&A), human capital management (HCM), and shared service centers.
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Organizations maintaining 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 global payroll outsourcing services market to grow at a CAGR of +5% during the period 2017-2021.
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The emergence of integrated sourcing strategies is expected to have a positive impact on the market growth over the next couple of years. Numerous companies are integrating their business and technology solutions to improve productivity and innovation and keep cost in control.
Neo-sourcing, an evolution of the BPO models, is the integration of IT with payroll outsourcing
The Major players reported in the market include: ADP, Ceridian HCM, Kronos, Oracle, SAP, Ultimate Software, Ascentis, ATOSS Software, BambooHR, HR Bakery, iCIMS, Infor, JDA Software Group, NICE, PeopleFluent, Performly, Reflexis Systems, The Sage Group, Workday, Zoho Corporation.
The report utilizes the financial records revealed by the top players in the global Payroll Outsourcing Services Market. This data is then compiled and screened using a 360-degree analysis.
The features that either strengthen or undermine the market’s growth over a given forecast period are also explained for the better understanding to the readers.
The report has been compiled to educate individuals and enterprises with the information that they desire as strong players in the global Payroll outsourcing Services market. The report gives an overview of the market initially, which describes all the major concepts which are critical in fully understanding its deeper traits.
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Payroll outsourcing is being increasingly viewed as a distinct strategy among SMEs and large organizations with the role of payroll experts evolving with changing market dynamics. Payroll outsourcing primarily involves analysis of organizational data, computation of gross salaries, TDS, allowances, reimbursements of expenses, and filling of TDS.
Increasing work pressure, strategic role gaining in importance, low costs, and the enhanced quality of services is driving organizations to outsource their processes. An effective and well managed payroll system is an important element of a business in terms of retaining employees in their company.
In addition, it helps in record maintenance and timely payroll process.
Payroll outsourcing service providers manage all the processes involved in paying employees. Organizations typically prefer outsourcing their services overseas to countries that can offer low costs and greater return on investment.
In-house payroll management incurs comparatively more costs for hiring staff and adopting the latest technologies. Vendors are offering solutions with low costs to generate more revenue from businesses and enabling greater scope of control.
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This report provides pin-point analysis for changing competitive dynamics
It provides a forward looking perspective on different factors driving or restraining market growth
It provides a six-year forecast assessed on the basis of how the market is predicted to grow
It helps in understanding the key product segments and their future
It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
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Table of Contents
Chapter 1 Payroll outsourcing Services Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Market Forecast
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