LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘HR Payroll Processing Services Procurement Market Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix of the corporate services industry. This report breaks down the data and analysis behind the procurement of HR payroll processing services and acts as an all-inclusive guide for making smart purchasing decisions.
“Significant demand from end-use sectors such as manufacturing, retail, life sciences and healthcare, finance, technology, media and telecommunications, consumer and industrial products, energy and resources is a contributing to the growth of the market,” says lead SpendEdge procurement analyst Angad Singh. “Due to this growing demand, the market is witnessing the entry of new suppliers that are differentiating their products and services by providing innovative technologies such as cloud-based platforms and proprietary software,” added Angad.
Key Report Features
| Supply Market Insights | Negotiation Strategies | ||
| Procurement Best Practices | Category Risk Analysis | ||
| Cost Saving Opportunities | Key Supplier Analysis | ||
| Pricing Models | Supplier Capability Matrix | ||
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Report Highlights
- APAC is expected to be the fastest growing market as suppliers in India and China are conducting M&A activities with global players to increase their service capabilities and market share.
- Buyers should engage with suppliers that provide one-stop solutions by bundling payroll processing services with benefits and administration services.
- Suppliers need to maintain confidential data internally to prevent theft or loss of data of employees, which, in turn, can lead to repercussions such as lawsuits filed by the employees in question.
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HR Payroll Processing Services Pricing Trends
Per employee per day pricing, fixed fee pricing, and hybrid pricing are the pricing models offered by the suppliers of HR payroll processing services to their buyers. The hybrid pricing model is a combination of the other two models, where there is a fixed monthly component as well as a variable fee component based on the number of employees. This is the most adopted model as it is cost-effective, charges for preparation of tax filing and tax amendments, and there are minimal extra charges involved.
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About SpendEdge
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.
