Payroll Outsourcing Market PPT: Demand, Trends and Business Opportunities 2023-28

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Global Payroll Outsourcing Market Research and
Forecast Report 2023-2028




Author Elena Anderson, Marketing Manager
IMARC Group
Copyright IMARC Service Pvt Ltd. All Rights
Reserved
2019 IMARC All Rights Reserved
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About IMARC Group
Report Description
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Report Description and Highlights
Report Description
Global Payroll Outsourcing Market Research
Report The latest report by IMARC, titled
Payroll Outsourcing Market Global Industry
Trends, Share, Size, Growth, Opportunity and
Forecast 2023-2028 " the global payroll
outsourcing market size reached US 8.9 Billion
in 2022. Payroll outsourcing refers to the
process of outsourcing services to third-party
organizations for handling the administrative and
compliance functions of paying employees. Its
adoption aids enterprises in minimizing the costs
of purchasing and maintaining appropriate
software packages and hiring in-house trained
payroll staff. The essential functions of
payroll outsourcing include calculating employee
salary, maintaining employee records, computing
bonuses, distributing payroll and generating
payroll-related reports while complying with the
taxation laws of the government. This assists in
improving overall efficiency by saving additional
costs and time of the organization. It is also
employed to keep the users updated with foreign
tax legislation to avoid any potential
penalties. Request Free Sample Report
https//www.imarcgroup.com/payroll-outsourcing-mar
ket/requestsample
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Report Description and Highlights
Report Description

Global Payroll Outsourcing Market Trends The
market is primarily driven by the increasing
adoption of HR outsourcing across the globe.
Numerous companies are focusing on outsourcing
complex HR processes to enhance the cost and time
efficiency of their firm. They are widely
adopting payroll outsourcing services in an
attempt to reduce the complexities associated
with the in-house payroll related activities and
focus on core issues of their businesses to
ensure smooth functioning of the company. This,
in turn, is creating a positive outlook for the
market. Furthermore, extensive utilization of big
data and business analytics is expected to
facilitate the uptake of these services on the
global level. Apart from this, the current trend
of remote working among the majority of the
companies on account of the rapid outbreak of the
coronavirus disease (COVID-19) and the consequent
need for social distancing is acting as another
major growth-inducing factor. This has impelled
enterprises to shift to online payroll services
offered by service providers to streamline the
overall process. The market is further driven by
the rising preference for multi-country payroll
outsourcing (MCPO), bundling payroll services and
process automation across the corporate sector.
Several key players are also providing hybrid
payroll solutions that are gaining widespread
preference among end users. These services aid in
reducing the confidentiality concerns by offering
improved control to users over confidential data.
On account of the aforementioned factors, the
market is anticipated to exhibit a CAGR of 5.24
during 2023-2028. Looking forward, the market
value is projected to reach a strong growth
during the forecast period (2023-2028).
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Report Description and Highlights
Report Description
Market Summary Breakup by Type Full-M
anaged Outsourcing Co-Managed Outsourcin
g Breakup by Application Small Busines
s Medium Business Large Busine
ss Breakup by End Use Industry BFSI
Consumer and Industrial Products
IT and Telecommunication
Public Sector Healthcare
Others

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Report Description and Highlights
Report Description
Breakup by Region North America
United States Canada
Asia Pacific China
Japan India
South Korea Austral
ia Indonesia O
thers Europe Germany
France United K
ingdom Italy S
pain Russia Ot
hers

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Report Description and Highlights
Report Description
Latin America Brazil
Mexico Others
Middle East and Africa


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Report Description and Highlights
Report Description

• Competitive Landscape with Key Players
• Accenture Plc ADP Group Companies Deloitte Touche
  Tohmatsu Limited Hewlett Packard Enterprise Compan
  y Infosys Limited International Business Machines
  Corporation Intuit Inc. Paychex Inc. Wipro Workday
  Inc. Xerox Corporation Zalaris
• View Full Report with TOC List of Figure
  https//www.imarcgroup.com/payroll-outsourcing-mar
  ket

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Partial List of Clients
We are the trusted business partners to the
world's leading corporates, governments, and
institutions
A partial List of our Clients
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Partial List of Clients
We are the trusted business partners to the
world's leading corporates, governments, and
institutions
A partial List of our Clients
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Report Description and Highlights
Report Description

2019 IMARC All Rights Reserved This
Publication and all its contents unless
otherwise mentioned are copyrighted in the name
of International Market Analysis Research and
Consulting (IMARC). No part of this publication
may be reproduced, repackaged, redistributed or
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Market Analysis Research and Consulting
(IMARC). Disclaimer All contents and data of
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