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 - Starting a New Business Chapter
Barriers to entry for 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, which means potential players are able to successfully enter the market and cater to clients' needs, particularly in the business administrative services segment.
At the other end of the scale, large organisations tend to choose large players such as Automatic Data Processing Limited, due to the breadth of services they offer. Furthermore, given the low level of capital investment required in industry activities, potential entrants primarily require relevant software and skilled labour to start up operations... purchase to read more