Oct 14, 2020 (Market Insight Reports) -- The Global Payroll Outsourcing Market Research Report Forecast 2020 – 2025 provides useful insights into a wide range of business aspects such as pillars, features, sales strategies, planning models, in order to enable readers to gauge market scope more proficiently. Furthermore, the report also sheds light on recent developments and platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries.
According to this study, over the next five years, the Payroll Outsourcing market will register a 6.2%% CAGR in terms of revenue, the global market size will reach $ 12280 million by 2025, from $ 9647.1 million in 2019.
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Payroll outsourcing is the fastest-growing segment of the market of global human resources outsourcing (HRO). Organizations are rapidly adopting payroll services to achieve cost reductions. They also outsource a single process or a whole set of services to enhance the existing functionality. Most payroll outsourcing functions related to finance and accounting (F & A), human capital management (HCM), and shared service centers. Organizations maintain an in-house team for tasks such as payroll, time and attendance, labor administration and benefits administration spend 20% of organizations that outsource the same function.
Top Key Players in the Global Payroll Outsourcing Market: ADP, Vision H.R., Sage, Paychex, Gusto, Xerox, Infosys, Intuit, KPMG, Zalaris, NGA HR, BDO, Neeyamo, Deloitte, Immedis, Activpayroll, Excelity, Ascender, Aurion, CloudPay, TriNet, i-Admin
Segment by Type, the product market is segmented into:
Segment by Application, the product market is segmented into:
Regional Analysis for Market:
For a comprehensive understanding of market dynamics, the global Payroll Outsourcing market is analyzed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India, and others. Each of these regions is analyzed on the basis of market findings across major countries in these regions for a macro-level understanding of the market.
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