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U.S. Payroll Services 2005-2009 Forecast and AnalysisPublished by: IDC Published: Dec. 14, 2005 - 16 Pages Table of ContentsTable of Contents IDC Opinion In This Study Methodology Situation Overview HR Services Market Overview Figure: The Human Resources Value Cycle The Components of the Payroll Process Results in Payroll Services for 2004 Economic Trends Figure: U.S. Unemployment Rate, October 2004-September 2005 Market Trends Figure: U.S. Businesses Outsourcing Payroll by Number of Employees Figure: U.S. Businesses Outsourcing Payroll Printing and Distribution by Number of Employees Competitive Trends Table: U.S. Payroll Service Revenue for the Top 3 Providers, 2004 Potential Threats Future Outlook Forecast and Assumptions Table: IDC Macroeconomic and Macrolevel Services Assumptions Summary Table: U.S. Payroll Services Spending, 2004-2009 Table: Key Forecast Assumptions for the U.S. Payroll Services Market, 2005-2009 Essential Guidance Actions to Consider Learn More Related Research Synopsis AbstractThis IDC study examines the competitive landscape and provides a five-year forecast for the U.S. market for payroll services. The market for payroll services in the United States grew modestly in 2004 and is dominated by a small number of market leaders that hold a large percentage of market share. Beyond the leaders, the market consists of numerous small players, many of which offer services only in a local area. Further market consolidation took place with the merger of CompuPay and PayMaxx, and this will likely not be the end of this activity as larger players seek to eliminate competition and gain footholds in particular regions or markets. "The U.S. market for payroll services grew modestly in 2004, after we saw strong growth in 2003. 2003 growth, however, was higher due in large part to the recovery from higher unemployment in 2002. We will continue to see market consolidation as vendors seek to grow market share and enter new markets," said Lisa Rowan, program manager for HR Management and Staffing Services at IDC. "Payroll service providers have an opportunity to grow their businesses through the pursuit of a number of strategies, including simplifying pricing, developing comprehensive ROI models, and broadening their offerings to include options for both less comprehensive and more comprehensive services." Get Full Details About This Report >> |
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