HRO Insight blog
Please visit NelsonHall's HRO Insight blog for further updates from our analysts daily
Targeting Payroll Services
Market Analysis
published on Sep 27, 2016
Access to this report is restricted to logged in clients with access. Login to get full access
Report Overview:
NelsonHall's market analysis of the payroll services outsourcing industry and payroll trends consists of 120 pages.
Who is this Report for:
NelsonHall’s “Payroll Services” report is a comprehensive market assessment report designed for:
- Sourcing managers investigating sourcing developments within payroll services
- HR and payroll decision makers exploring the benefits and inhibitors of payroll services as evidenced from the clients and vendor capability
- Vendor marketing, sales and business managers developing strategies to target BPS service opportunities within payroll services
- Financial analysts and investors specializing in the IT services and BPS sector, including payroll services.
Scope of this Report:
This report analyzes the global market for Payroll Services and its constituent services. The report addresses the following questions:
- What is the current and future market for Payroll services?
- What are the customer requirements and how are they changing?
- What are the benefits/results that vendors have been able to achieve for their clients?
- What services are customers buying from Payroll Service vendors?
- What technologies and platforms are being utilized and what are the latest developments and trends emerging?
- What is the size and growth of the Payroll Services market by geography?
- What is the size of the Payroll Services market by industry and which is seeing increased demand? What is the size by small, mid and large market?
- How are leading vendors positioned within the Payroll Services market?
- What are the vendor selection criteria, challenges and critical success factors for vendors targeting Payroll Services?
- Additional topics include: industry-specific developments, online payslips, HR cloud and software integration; multi-country payroll; acquisitions, divestures and partnerships; use of offshoring, contract lengths, case management technologies for service management etc.
Key Findings & Highlights:
The payroll services market remains strong in 2015, with ~5.5% growth and an expected 5.8% CAAGR, reaching $21.8bn by 2020.
The payroll services market is relatively mature with standard providers supporting a wide range of processes from provisioning, technical support, processing and payroll management.
The payroll services market is being driven by the requirement for increased compliance across the scope of countries in which a client is operating, as well as by continued investments in cloud HR transformation initiatives to deliver increased process efficiency, thereby allowing internal resources to focus on more strategic and value add activities.
Payroll outsourcing is supported by the wider HR community’s drive towards implementing one single system of record across global employee populations; allowing clients to manage a mobile and disparate workforce is becoming increasingly important.
Vendors are continuing to invest the majority of their R&D revenues in technology. The largest investment in technology in 2015 and 2016 was in analytics, although other areas include user experience enhancements and integrations, as well as automation and RPA.
Payroll solutions are being increasingly bundled with time and attendance and HR admin offerings, to support transactional HR processes and alleviate admin heavy responsibilities from internal HR and payroll practitioners.
Traditional payroll aggregators are investing in in-country operations to improve competitive pricing and acquisitions continue improving geographical capability.
Login to get full access:
Payroll Services
published 2016-10-18 | Project by Elizabeth Rennie
This NelsonHall Vendor Evaluation & Assessment Tool (NEAT) analyzes the performance of vendors offering Payroll Services. The NEAT tool allows strategic sourcing managers to assess the capability of vendors across a range of criteria and business situations and identify the best performing vendors overall, and in specific focus areas (market segments) including Analytics & Reporting Focus, Multi-Country Focus, Technology & UX Focus, and HR Cloud Integration Focus. Vendors evaluated are: ADP, Capita, Ceridian, CloudPay, Excelity Global, Infosys, MHR, Neeyamo, NGA HR, OneSource Virtual, Paychex, Ramco Systems, SafeGuard World International, SD Worx, Sopra Steria, and TMF. To find out more, contact Guy Saunders at [email protected].
view NEAT report
all NEAT reports
about NEAT