Industry Analysis & Industry Trends
The Payroll and Other Office Administrative Services industry has benefited from higher demand for outsourced business services over the past five years. Demand has increased due to the perceived benefits of outsourcing ancillary or back office functions to specialist providers, which primarily involve reducing costs as it tends to be more expensive to perform these functions in-house. The industry comprises many small businesses that tend to service narrow regional markets. Larger players like ADP often service larger companies, but employ a small number of people due to software automation. The industry heavily relies on growth in downstream demand from markets such as financial and professional services firms... purchase to read more
Industry Report - Industry Analysis Chapter
The Payroll and Other Office Administrative Services industry has offered a range of business services that have largely expanded over the past five years. As the industry's major revenue sources, payroll and billing services have benefited from a growing trend towards outsourcing. Outsourcing has gained popularity as companies have pursued efficiencies by concentrating on core operations and passing back office activities on to external service providers. With ongoing changes in technology, companies can easily track and access outsourced services through online and cloud computing systems.
Demand for industry services is growing, despite volatile business confidence and tightened corporate budgets over the past five years... purchase to read more