Industry Analysis & Industry Trends
The Payroll and Other Office Administrative Services industry has benefited from the private sector trend towards outsourcing business services, although the sluggish general economy has contained the industry's performance since the late 2000s. However, 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 business sentiment 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 - Industry Products Chapter
While the industry offers a diverse range of administrative services, payroll and billing services account for the largest shares of industry revenue. Specialist organisations are employed to perform specific tasks and do not form a part of their clients' direct workforce.
Payroll services are expected to account for 70.0% of industry revenue. This segment's share of industry revenue is estimated to have increased over the past five years, as more companies have realised the economic savings and efficiencies of outsourcing payroll functions.
Services in this segment include payroll and leave entitlement calculations, superannuation management, termination and redundancy calculations and pay slip management... purchase to read more