Industry Analysis & Industry Trends
The Payroll and Other Office Administrative Services industry has benefited from the private sector trend of outsourcing business services over the past five years. The industry generates the bulk of its revenue from the payroll processing and billing segments, which have been the primary beneficiaries of the outsourcing boom. The industry relies heavily on the growth in underlying demand, which is affected by the number of businesses and the number of employees in the labour force, which both exhibit steady growth over the long term. Business confidence and business expenditure are also major drivers, as these influence an organisation's decision to outsource non-core activities to specialist service providers... purchase to read more
Industry Report - Industry Analysis Chapter
The Payroll and Other Office Administrative Services industry offers a wide range of business services that have had varying degrees of success over the past five years. As the industry's major revenue sources, payroll and billing services have benefited from the growing trend towards outsourcing. Outsourcing has gained popularity as companies have pursued efficiencies by concentrating on their core operations and passing their back-office activities on to external service providers. With ongoing changes in technology, companies are able to easily track and access these outsourced services through online and cloud computing systems.
Demand for industry services is growing, despite a period of volatile business confidence and tightened corporate budgets... purchase to read more