Payroll outsourcing is the fastest-growing segment of the global human resource outsourcing (HRO) market. Organizations are rapidly adopting payroll services to achieve cost reduction. They either outsource a single process or the entire set of services to enhance the existing function. Most of the payroll outsourcing functions are related to finance and accounting (F&A), human capital management (HCM), and shared service centers. Organizations maintaining an in-house team for tasks such as payroll, time and attendance, workforce administration, and benefits

administration spend 20% more than organizations that outsource the same functions.To calculate the market size, we consider the revenue generated from payroll services outsourced to third-party service providers.

PART 01: Executive summary 5

PART 02: Scope of the report 16

PART 03: Research Methodology 21

PART 04: Introduction 24

Key market highlights 24

PART 05: Market landscape 26

Market overview 26

Market size and forecast 28

PART 06: Five forces analysis 31

Five forces analysis 31

PART 07: Market segmentation by product 32

Hybrid 33

Fully outsourced 34

PART 08: Market segmentation by end-user 36

Mid-market 37

National 38

Multinational 39

PART 09: Geographical segmentation 41

Americas 42

EMEA 43

APAC 45

PART 10: Decision framework 47

PART 11: Drivers and challenges 49

Market drivers 50

Impact of drivers on key customer segments 52

Market challenges 53

Impact of challenges on key customer segments 55

PART 12: Market trends 56

Rise of multi-country and centralized outsourcing

models 56

Evolution of BPaaS 56

Expansion of MNCs in South America 57

Implementation of automation 57

PART 13: Vendor landscape 59

Competitive scenario 59

PART 14: Key vendor profiles 60

ADP 60

Ceridian HCM 61

NGA Human Resources 61

Paychex 61

Other prominent vendors 62

PART 15: Appendix 65

List of abbreviations 65

PART 16: Explore Technavio 66