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 Analysis Chapter
The Payroll and Other Office Administrative Services industry offers a wide range of business services that have performed with varying degrees of success over the past five years. As the industry's major revenue contributors, payroll and billing services have benefited from the growing trend towards outsourcing. Outsourcing has gained popularity as companies have pursued efficiencies by concentrating on their core operations and passing their back office activities onto external service providers. Due to the growth in technology, companies are able to easily track and access these outsourced services through online and cloud computing systems... purchase to read more