Press release
Analysis of Global Payroll Outsourcing Market to grow at a CAGR of 4.4% during the period 2016-2020: Key Vendors are ADP, NGA, Ceridian, Genpact, Workday
About Payroll Outsourcing
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. 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
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.
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Table of Content
PART 01: Executive summary
Highlights
PART 02: Scope of the report
Market overview
Top-vendor offerings
PART 03: Market research methodology
Research methodology
Economic indicators
PART 04: Introduction
Key market highlights
PART 05: Market landscape
Industry overview
Market overview
Market size and forecast
Five forces analysis
PART 06: Product segmentation
Segmentation of global payroll services by coverage
PART 07: Geographical segmentation
Geographical segmentation of global payroll outsourcing market
Payroll outsourcing market in EMEA
Payroll outsourcing market in Americas
Payroll outsourcing market in APAC
End-user segmentation of global payroll outsourcing market
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
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