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 - Industry SWOT Analysis Chapter
The Payroll and Other Office Administrative Services industry is expected to be 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, with the majority of the change coming from developments in regulation, tax law and other external factors.
Over the 10 years through 2018-19, industry value added is estimated to increase by an annualised 3.6%, exceeding the projected growth in Australia's GDP of an annualised 2.6%. 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 contain profit margins... purchase to read more