Payroll Management System Market 2020: Soaring Demand Assures Motivated Revenue Share by 2025 | Analysis by Xero, ADP Workforce, Dayforce, Sage, Kronos, Gusto, BambooHR, Zenefits

Global Payroll Management System Market Synopsis:

The report covers a forecast and an analysis of the Payroll Management System Market on a global and regional level. The study provides historical data for 2015, 2016, 2017 and 2018 along with a forecast from 2020 to 2025 based on revenue (USD Million) and volume (Kilotons). The study includes drivers and restraints of the Payroll Management System Market along with the impact they have on the demand over the forecast period.

According to the market research study, the Payroll Management System is one of the time-consuming activities for any organization, which may affect the direct revenue. Organizations need payroll software to focus more on the daily core tasks and for generating new revenue strategies. Organizations are implementing payroll software to minimize cost, reduce time, and enhance labor efficiency. Cloud-based payroll software is one of the key strategies followed by enterprises as it is more energy-efficient and reduces IT & labor costs. Cloud-based payroll software is making revolutionary changes in HR services for both employers as well as employees.

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In terms of the geographic analysis, The Payroll Management System Market in North America is expected to grow at the highest CAGR during the forecast period. Moreover, the presence of major players in the Payroll Management System Market ecosystem results in the increasing adoption of these systems in North America.

This report contains a complete product overview and its scope in the market to define the key terms and provide the clients a holistic idea of the market and its tendency. It comprehensively evaluates the Global Payroll Management System Market with different perspectives for the purpose of providing a detailed, informative, and accurate analysis of regional growth, competition, market segmentation, and other important aspects.

Global Key Players:

1 ADP Workforce

2 Dayforce

3 Sage

4 Xero

5 Kronos

6 Gusto

7 BambooHR

8 Zenefits

9 Epicor

10 Namely

11 PeopleSoft

12 AccountEdge

13 Paychex Payroll

14 Intuit Payroll

15 Paylocity

16 SurePayroll

17 SmartHR

18 Ultimate Software

19 Justworks

20 SurePayroll

21 Lenvica Payroll and More..................

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Product Type Segmentation

1 On-premise

2 Software-as-a-service (SaaS)

3 Cloud-hosted

Industry Segmentation

1 Small Businesses

2 Medium-sized Businesses

3 Large Enterprises

On the basis of Regional analysis, North America and Europe holds major share in global Payroll Management System market. Moreover, Asia-Pacific is expected to record higher growth rate in Payroll Management System Market during the forecast year.

Global Business News:

Xero (April 08, 2020) - Xero launches Xero HQ Payroll to support advisors during the COVID-19 crisis, as parliament is set to legislate JobKeeper program - Xero, the global small business platform, today announced the immediate availability of Xero HQ Payroll, a new way for accountants and bookkeepers to help their small business clients keep on top of payroll and compliance needs.

Xero HQ Payroll has been in pilot with a small group in recent months, but Xero has now opened the tool to all its accounting and bookkeeping partners so they can access its benefits immediately. This is part of a series of product tools and features that Xero is accelerating the build of, or providing early availability, to help small businesses and their advisors during difficult economic times.

Xero HQ Payroll will give advisors an understanding of which clients are set up for Single Touch Payroll (STP) and the status of those filings. The Australian Taxation Office will use STP data to collect information on employees who are eligible for the JobKeeper program, so getting clients set up for

STP will be important in helping small businesses prepare for when the legislation is passed. With many businesses now working remotely, providing the right information in one place through Xero's cloud-based accounting software also ensures accountants or bookkeepers can remotely check their clients' finances using a single ledger.

"Accountants and bookkeepers have always been a central source of support to small businesses navigating challenging economic times - and their skills, experience and advice are now required more than ever," said Trent Innes, Managing Director, Xero Australia and Asia.

"As advisors look to support their small business clients to access government assistance packages like JobKeeper, keep on top of their cash flow and understand their business position, it's never been more important that they in turn get access to the tools and insights that make digital payroll compliance, across multiple clients, more seamless."

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Major Points in Table of Contents:

Global Payroll Management System Market Report 2020

1 Payroll Management System Product Definition

2 Global Payroll Management System Market Manufacturer Share and Market Overview

2.1 Global Manufacturer Payroll Management System Shipments

2.2 Global Manufacturer Payroll Management System Business Revenue

2.3 Global Payroll Management System Market Overview

3 Manufacturer Payroll Management System Business Introduction

3.1 ADP Workforce Payroll Management System Business Introduction

3.2 Dayforce Payroll Management System Business Introduction

3.3 Sage Payroll Management System Business Introduction

3.4 Xero Payroll Management System Business Introduction

3.5 Kronos Payroll Management System Business Introduction

3.6 Gusto Payroll Management System Business Introduction

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