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 SWOT Analysis Chapter
The Payroll and Other Office Administrative Services industry is in the mature stage of its life cycle, typified by highly standardised products and services, well-known incumbent players and modest increases in participation. There is also little room for product innovation, as the majority of the changes have stemmed from developments in regulation, tax law and other external factors.
Over the 10 years through 2019-20, industry value added is expected to increase by an annualised 5.6%, exceeding projected growth in Australia's GDP of an annualised 2.7%. The industry's contribution to the economy is therefore expected to rise over the medium term, although the industry will be exposed to intensely competitive conditions, which will constrain profit margins... purchase to read more