Payroll outsourcing services in a business means engaging an external party to handle all payroll related activities. Outsourcing of payroll functions is generally done to reduce cost and save time required to deal with financial tasks related to payroll. Hiring an external firm to handle payroll activities means a business organization can do away with the need to hire and train a large in-house payroll staff, buy appropriate software packages for payroll functions, and remain constantly updated about complicated tax regulations. Payroll outsourcing services are beneficial for all kinds of businesses, regardless of the organization having a large payroll or a mid-range or small payroll. This has projected the growth of the global payroll outsourcing services market over the forecast period.
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The Payroll Outsourcing Services Market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2021-2026). The assessment provides a 360° view and insights, outlining the key outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions for improved profitability. In addition, the study helps venture or private players in understanding the companies more precisely to make better informed decisions.
Major Players are:
Accenture plc (Ireland), Genpact (United States), Infosys (India), IBM (United States), CGI Inc. (Canada), Cegedim (United Kingdom), Ceridian HCM, Inc. (United States), NGA Human Resources (United Kingdom), Neeyamo (India), Workday, Inc. (United States), Automatic Data Processing, Inc. (United States), Logica plc (United Kingdom)
NOTE: Our analysts monitoring the situation across the globe explain that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
The titled segments and sub-section of the market are illuminated below:
Type (Software/Online Services, Professional Employment Organization, Others), Deployment Mode (Cloud-Based, On-Premises), Organization Size (Small & Medium Enterprises (SMEs), Large Enterprises), Industry Verticals (Retail, BFSI, IT & Telecom, Government, Travel and Hospitality, Energy & Utilities, Healthcare, Professional Services, Manufacturing, Logistics, Others), Pricing Type (Monthly Subscription, Annual Subscription, One-Time License)
Growing Focus on Business Process Automation
Emphasizing On the Technological Advancement in the Payroll Outsourcing Services
Rising Adoption of New IT Solutions like Payroll Outsourcing Services
Growing Digitization in Numerous Industries across the Globe
Lack of Awareness in the Low and Middle Income Group Countries
Growth in the IT Sector in Emerging Economies
Increasing Demand for Payroll Outsourcing Services From the Manufacturing and BFSI Industry
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Extract from Table of Content:
Chapter 01 – Executive Summary
Chapter 02 – Market Overview
Chapter 03 – Key Success Factors
Chapter 04 – Covid-19 Crisis Analysis on Global Payroll Outsourcing Services Market
Chapter 05 – Global Payroll Outsourcing Services Market – Pricing Analysis
Chapter 06 – Global Payroll Outsourcing Services Market Background
Chapter 07 — Global Payroll Outsourcing Services Market Segmentation
Chapter 08 – Key and Emerging Countries Analysis in Global Payroll Outsourcing Services Market
Chapter 09 – Global Payroll Outsourcing Services Market Structure Analysis
Chapter 10 – Global Payroll Outsourcing Services Market Competitive Analysis
Chapter 11 – Assumptions and Acronyms
Chapter 12 – Research Methodology
What are the market factors that are explained in the Payroll Outsourcing Services Market report?
– Key Strategic Developments: Strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors.
– Key Market Features: Including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin.
– Analytical Tools: The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Questions Answered in the Report:
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