World Payroll Outsourcing Services Market to Grow at 5.56% CAGR to 2021

ReportsnReports.com adds Global Payroll Outsourcing Services Market 2017-2021 latest research report; the analysts forecast global payroll outsourcing services market to grow at a CAGR of 5.56% during the period 2017-2021.

May 3, 2017 /MarketersMedia/ —

One trend in the global payroll outsourcing services market is rise of multi-country and centralized outsourcing models. Organizations are looking for outsourcing partners that have exposure to multiple countries and can handle all the recruitment functions using sophisticated methods such as benchmarking, best practices, and process improvement. Globalization has toughened the competitive environment for outsourcing providers. India and China are considered to be the main countries receiving outsourcing projects.

Complete report on payroll outsourcing services market spread across 70 pages, analyzing 4 major companies and providing 21 data exhibits are now available at http://www.reportsnreports.com/reports/976553-global-payroll-outsourcing-services-market-2017-2021.html.

According to the payroll outsourcing services market report, one driver in market is growing need for payroll cost visibility. Economic and cultural globalization, the extension of manufacturing processes across geographies, and the widespread use of lean methodologies are driving demand for payroll cost visibility. Transnational organizations often seek contracts that confer global visibility of costs and aggregate reporting of payments, employee data, and other services. Multi-country contracts provide flexibility and scalability that helps operators to venture into virgin markets. Clients typically opt for vendors with domain expertise and those that conform to strict service level agreements. The primary focus includes providing a hassle-free environment for HR professionals to drive and develop strategic activities (such as workforce planning and talent management), rather than spending time on administration and transactional duties.

The following companies as the key players in the global payroll outsourcing services market: ADP, Ceridian HCM, NGA Human Resources, and Paychex. Other prominent vendors in the market are: Accenture, Caliber Point Business Solutions (Hexaware Technologies), CGI Group, Genpact, Hewlett Packard Enterprise Development, IBM, Infosys, Intuit, Ramco Systems, SafeGuard World International, and Workday. Order a copy of Global Payroll Outsourcing Services Market 2017-2021 report @ http://www.reportsnreports.com/purchase.aspx?name=976553.

Global Payroll Outsourcing Services Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the present scenario and the growth prospects of the global payroll outsourcing services market for 2017-2021. To calculate the market size, the report considers the revenue generated from payroll services outsourced to third-party service providers.

Further, the payroll outsourcing services market report states that one challenge in market is issues related to geographical transition. Large organizations have a large set of workforces dispersed globally. Phasing a standard process across disparate geographies in a systematic manner requires automation and expert teams that can handle such complex integration. The specification of requirements differs with geographies, and this makes the task difficult for companies to conform to regulation policies of certain regions.

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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

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Source: MarketersMedia

Release ID: 193134