The report aims to provide an overview of the global Payroll outsourcing services market with detailed market segmentation by type, vertical, and geography.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Payroll outsourcing services market based on type and vertical.
It also provides market size and forecast till 2025 for overall Payroll outsourcing services market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments.
The report covers analysis and forecast of 16 countries globally along with current trend and opportunities prevailing in the region.
Some of the key players influencing the market are IBM Corporation, Cognizant Technology Solutions, Tata Consultancy Services., Infosys Limited., Onpay, ADP LLC, Sage Group, Workday, Inc., Neeyamo, and Ramco Systems among others
Payroll Outsourcing is a process in which businesses hire external sources to handle all the payroll functions for them. Payroll outsourcing service is an efficient method to handle payroll functions that can help in cost optimization and time saving.
These services enable the organizations to eliminate the need for trained staff for performing payroll functions. Payroll outsourcing services has wide range of application in BFSI, healthcare and telecommunication sector.
Advancements in technology and cost optimization are aiding for the high demand of payroll outsourcing solutions. Companies providing payroll outsourcing solutions are focusing on providing more efficient solutions in order to attract the customers.
Advancements in technology and cost optimization are the major factors expected to drive Payroll outsourcing services market whereas inconsistency in service and high cost of solutions for complex structured organizations are expected to hinder the growth of this market.
Besides this, the report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting Payroll outsourcing services market in these regions.
key Payroll outsourcing services market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products, and services offered, financial information for the last 3 years, key development in the past five years.