Industry Analysis & Industry Trends
The Payroll and Other Office Administrative Services industry has benefited from the private sector trend towards 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. However, the sluggish general economy has contained the industry's performance since the late 2000s.
The industry relies heavily on business confidence and spending, as these influence an organisation's choice to outsource non-core activities to specialist service providers. The global financial crisis contributed to a decline in demand for industry services... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry within the industry are low, largely due to the high level of fragmentation and the large number of small enterprises. The majority of operators have fewer than 20 employees and are able to successfully enter the market and cater to their clients' needs, particularly in the business administrative services segment. While there exist small and niche payroll companies, large incumbents such as Automatic Data Processing Limited tend to service large organisations due to the breadth of services offered by them. Further, given the low level of capital investment required within the industry, potential entrants primarily require relevant software and skilled labour to start up operations... purchase to read more