LONDON--(BUSINESS WIRE)--The global HR payroll processing services market is poised to experience spend growth of more than USD 8 billion between 2019-2024 at a CAGR of over 8%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic.
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SpendEdge's reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and the latest market data to help your company overcome sourcing challenges. Our HR payroll processing services market procurement intelligence report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The manufacturing, retail, and healthcare sectors are emerging as the three key end-users in the HR payroll processing services market and are accounting for more than 70% of the total market share. The manufacturing sector, singlehandedly, is claiming more than 25% of the total market share. Much of this high demand for HR payroll processing services can be attributed to the outsourcing of complex payroll operations owing to differing pay scales and pay cycles for workers, varying rate calculations, and highly contingent labor force.
Report scope snapshot: HR payroll processing services Market
- Regional spend dynamics
- Regional influence on global spend
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- Market favorability index for suppliers
- Supplier ecosystem
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- Category hierarchy
- Category scope
- Category map
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