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 SWOT Analysis Chapter
The Payroll and Other Office Administrative Services industry is in the growth stage of its life cycle. Over the 10 years through 2020-21, industry value added, a measure of the industry's contribution to the overall economy, is expected to increase by an annualised 4.0%. This is outperforming relative to growth in Australia's GDP of an annualised 2.6% over the same period. This is characteristic of a growth industry.
The industry is characterised by highly standardised products and services, well-known incumbent players and modest increases in participation. Although these factors are characteristic of a mature industry, the industry is currently in a quality growth phase... purchase to read more