The
report " Global Payroll Outsourcing Market 2016-2020 ", has
been prepared based on an in-depth market analysis with inputs from
industry experts.
MarketResearchReports.biz
has added a research report to its market intelligence repository on
the ICT domain. The report, titled “Global
Payroll Outsourcing Market 2016-2020,”
outlines the key factors that are expected to influence this market
through a more detailed perspective formed by gathering recent and
past data and using market analysis tools to draw an accurate
projection for the market’s future till 2020.
According
to the report, the global payroll outsourcing market is projected to
exhibit a CAGR of 4.40% between 2016 and 2020. The primary driver for
the global payroll outsourcing market is the increasing demand for
more visibility in a payroll cost structure. Outsourcing firms offer
a high level of visibility in their processes, which is adding to the
benefits availed by the client company.
One
of the major restraints acting on the global payroll outsourcing
market is the overall lack of guarantee that these companies can
offer. Most outsourcing companies are unable to offer services that
are proven due to the complexity required in customizing the
processes for each client.
The
global payroll outsourcing market is, however, still poised to keep
growing at a positive rate, thanks to the major market trend of
adopting new technology to improve workflow.
The
report explains the role of the global payroll outsourcing market in
terms of its importance for major clients and companies to make their
business decisions. Payroll outsourcing is currently considered to be
a major – and the fastest-growing – segment of the global market
for human resource outsourcing. Major organizations are showing a
high rate of adoption of payroll outsourcing services as a part of
efficient cost reduction strategies.
Companies
may outsource individual processes or their entire services to
optimize their workflow and functionality as desired. This, coupled
with the cost reduction due to not having to build an in-house team,
are two of the major benefits that companies can avail through the
global payroll outsourcing market.
The
report also details the geographical differences that play a part in
influencing the global payroll outsourcing market. It highlights the
three major regional markets of Asia Pacific, EMEA, and the Americas.
The
report describes the competitive landscape of the global payroll
outsourcing market by naming its top players. Details of these
companies are given in terms of company profile and major business
decisions. The key vendors in the global payroll outsourcing market,
as given in the report, are Workday, NGA, Genpact, Ceridian, and ADP.
Other prominent vendors mentioned in the report include IBM,
Accenture, HP, Infosys, Ramco Systems, Caliber Point, Steria, and
TDS.
The
report therefore covers the entirety of the present scenario of the
global payroll outsourcing market and marks areas where vendors can
show growth between 2016 and 2020. The report also calculates the
market size by incorporating revenue generation by third-party
service providers to whom the payroll services have been outsourced.
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