Payroll & Bookkeeping Services in the US
The Payroll and Bookkeeping Services industry provides payroll and bookkeeping services on an outsourced basis. The industry has experienced steady growth over the five years to 2018 as clients increasingly subcontracted back-office administrative activities to take advantage of strengthening economic conditions, enabling them to focus efforts on core business functions. By outsourcing payroll and bookkeeping, small businesses can save time and money, freeing up resources for higher-priority pursuits. Additionally, the rising complexity of payroll and benefits payments and deductions has led businesses to increasingly outsource these functions to industry operators to ensure compliance. As the number of businesses in the United States has grown each year over the past five years, the industry's client base has expanded. Over the five years to 2023, revenue is forecast to expand.
Operators in this industry provide outsourced payroll services for clients’ employees and basic bookkeeping services are also included. However, this industry does not include tax preparation companies or certified public accountants.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.