New Report says Cloud based Payroll Software Market: Global Industry Analysis and Opportunity Assessment 2021
Cloud-based Payroll Software Market Research Report covers the present scenario and the growth prospects of the Cloud-based Payroll Software Industry for 2016-2020. Cloud-based Payroll Software Market, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years and discussion of the key vendors effective in this market. To calculate the market size, the report considers the revenue generated from the sales of Cloud-based Payroll Software globally.
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The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry.
Following Companies Are Key Players of the Cloud-based Payroll Software Market:
- ADP
- BenefitMall
- Ceridian HCM
- CloudPay
- CoreHR
- Gusto
- Intuit
Other Prominent Vendors of Cloud-based Payroll Software Market Are:
- AmCheck
- Automatic Payroll Systems
- IRIS Software
- Interlogic Outsourcing
- MyPayrollHR
“One of latest trends in the market is integration of different modules to perform different functions. HR software is an enterprise-class software that can streamline and automate processes like payroll, performance reviews, recruiting, onboarding, compliance, analytics, and training. Enterprises purchase separate software for each and every HR operation such as payroll software, applicant tracking software, and talent management software. Integrated HR payroll software has a better impact on organizational drivers and also engages the employees better.”
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According to the report, one of the primary drivers in the market is advantages of cloud over on-premises solutions. On-premises payroll solutions usually require an initial investment such as servers, hardware, and power backup. In addition, it is also necessary to have an experienced IT staff for the maintenance of the hardware and to ensure the system functions on a consistent basis. In cloud-based payroll solution, the initial investment is much lower as compared with the on-premises payroll solution. The cloud-based payroll infrastructure is hosted and maintained by the vendor, and the users can access the payroll using a web browser with an Internet connection. Hence, the cost of implementing cloud-based payroll solution is lower than the cost of on-premises payroll solutions.
Report also presents Geographical Segmentation analysis of Cloud-based Payroll Software Market of Americas, APAC, EMEA region.
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Further, the report states that one major challenge in the market is regulatory compliance. Even small organizations have to comply with a number of federal, state, and local regulations. Failing to understand the legal requirements for the data, process, and structure can result in penalties for the companies. Payroll vendors may be able to help companies understand what reports and information will be required to show compliance with regulations. The changing new regulatory requirements and increased regulatory oversight and enforcement are two of the main factors that make payroll-related compliance management so difficult.
Key questions answered in Cloud-based Payroll Software market report:
- What will the Cloud-based Payroll Software market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving Cloud-based Payroll Software market?
- What are the challenges to Cloud-based Payroll Software market growth?
- Who are the key vendors in Cloud-based Payroll Software market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
No of Pages: 68
Price of Report: $ 2500 (Single User License)
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