Global Payroll & Accounting Services Market is Expected to Reach US$ 1498.12 Million by 2027, Growing at an Estimated Cagr Of 11.6% Over the Forecast Period Owing to the Benefits Associated With Payroll Administration

Some of the players operating in the global payroll & accounting services market are Accounts & Legal Consultants Ltd, Altman, Rogers & Co., BDO Global (online), Cogneesol, Cronin & Co., CSI ACCOUNTING & PAYROLL

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Absolute Markets Insights

Jan 31, 2020, 11:30 ET

PUNE, India, Jan. 31, 2020 /PRNewswire/ -- Payroll Administration is a core function of any business with employees and this is that one thing that they should get it right. Payroll and tax problems can have an enormous impact on businesses for managing cash flow, employee morale, tax compliance and many other areas. Some of the inconsistencies associated with payroll administration are timeliness of tax deposits, compliance with state employment compensation and tax laws, getting payroll processed and out on time and consistent and accurate deductions and withholdings.

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The PEO payroll administration simplifies a complicated process. They mainly differentiate commissions, pay rates and payroll taxes amongst others that poses various difficulties for business owners at large. PEO Payroll administration solutions allow employers to make just one simple payment per payroll cycle that they know is accurate, covers all their liability, on-time and takes care of everything. Time is an important factor that needs to be taken into consideration. Payroll is itself a very tedious and complex task. The payroll services also reduces liability costs at large.

The detailed research study provides qualitative and quantitative analysis of global payroll & accounting services market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

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Key Findings of the Report:

In terms of revenue, global payroll & accounting services is anticipated to reach US$ 1498.12 million by 2027, growing at an estimated CAGR of 11.6% over the forecast period owing to favorable regulatory requirements from government
Small & medium organizations is expected witness the highest CAGR over the forecast period. They tend to play an important role to country's economic growth. Payroll is mainly the first entry point and thus, the HR Tech solution providers focus on this area. Most of the human resource software providers tend to have payroll as one of the features embedded in their solution.
Some of the players operating in the global payroll and accounting services market are Accounts & Legal Consultants Ltd, Altman, Rogers & Co., BDO Global (online), Cogneesol, Cronin & Co., CSI ACCOUNTING & PAYROLL, Deloitte ToucheTohmatsu Limited, Econia Ltd, Ernst & Young Global Limited, First Class Accounts, Grant Thornton International Ltd, Ignite Spot, KPMG, International Cooperative, NumberKeepers LLC, Paysquare Consultancy Ltd, PwC, Raymond J. Busch LTD, RayvatAccounting, SLC Bookkeeping Services, The Sovereign Group, TMF Group, Marcum LLP amongst others.

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Global Payroll & Accounting Services Market:

By Service Type

Accounting and Bookkeeping Services
Tax Compliance
Payroll Administration
Administration of Personnel Files
Others (VAT, IPT Services, etc.)

By Technology

Automated and Online Platform
Manual/Offline

By Organization Size

Large Enterprises
Small and Medium Enterprises

By Geography

North America

U.S.
Canada
Mexico

Europe

France
The UK
Spain
Germany
Italy
Nordic Countries

Denmark
Finland
Iceland
Norway
Sweden

Benelux Union

Belgium
The Netherlands
Luxemburg

Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Southeast Asia

Indonesia
Thailand
Malaysia
Singapore
Rest of Southeast Asia

Rest of Asia Pacific

Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

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