Payroll
and bookkeeping services are increasingly moving their business operations to
the cloud to reduce their operational expenditures. It eliminates the need for
installing and updating programs and reduces investments on hardware and server
equipment. It also integrates with banking and accounting software, thereby
saving time and costs and ensuring the safety and security of the data.
THE
BUSINESS RESEARCH COMPANY VALUED THE GLOBAL PAYROLL & BOOKKEEPING SERVICES
MARKET AT $289 BILLION IN 2017
North
America was the largest geographic region in the market, accounting for more
than two-fifth of the global market. The USA was the largest country accounting
for one-third of the global payroll & bookkeeping services market.
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According to
The Business Research Company’s Consultant, Nitin Gianchandani, data security saw
a growth due to the high functionality in online by smartphones and tablets.
Companies are using data security protocols for their payroll services and
ensuring the data to be encrypted. For instance, AICPA survey found half of
institute members using cloud-based accounting services.
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of the report at: https://www.thebusinessresearchcompany.com/sample.aspx?id=431&type=smp
Intuit was
the largest player in the payroll & bookkeeping services market, with
revenues of $428 million in 2016. Intuit’s growth strategy aims at building
connections between customers and products. For example, TurboTax customers can obtain a credit score for personal
finance offering.
The
payroll services market comprises establishments that collect information on
hours worked, pay rates, deductions and other payroll-related data from their
clients to generate paychecks, payroll reports, and tax filings. These
establishments may use data processing and tabulating techniques as part of
providing their services.
Payroll &
Bookkeeping Services Global Market Report 2018 is a detailed
report giving a unique insight into this market. The report is priced at $4000
for an individual user. To use across your office, the price is $6000 and $8000
if you wish to use across a multinational company.
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