Market Scenario:

HR Payroll Software describes the payroll software in which the company will pay the salary to the employee for the work that they have completed. It consists of bonus payment, benefit deduction, vacation leaves, salary hikes, recruitment, and firing employees, checklist driven payroll processing in under a minute, accurate reconciliation tools, generate and distribute pay slips with a single click, highly configurable claims module with expenses and reimbursement workflow. Payroll Systems offers a solution to the dedicated customer as the service provided by experienced professionals for businesses of all sizes.

The study indicates that the HR Payroll Software Market is boosted by its flexible and comprehensive solutions that helps to organize, integrate, and simplify complex business processes to the company processes, accurate and reliable processing and reporting and secure data management and transactions. The study also indicates that the payroll solution systems is highly customizable, proven track records, and security standard. The policies and processes to ensure customer satisfaction that reduces employer cost, liability and administrative burden through integrated payroll. Moreover, it benefits the administration and human resource management systems.

The global HR Payroll Software market is expected to grow at USD $8 Billion by 2023, at 9% of CAGR between 2017 and 2023.

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Key Players:

The prominent players in the HR Payroll Software Market are – SAP (U.S), Oracle (U.S), Ultimate software (U.S), SumTotal Systems Inc. (U.S), Sage (U.S), Ascentis (California), SuccessFactors (U.S), Pay Focus (U.S), BambooHR (U.S.), Intruit (U.S), Halogen Software Inc (U.A.E), UltiPro (U.S.), Vibe HCM (U.S.), Patriot Payroll (U.S.), ADP (U.S), Epicore (U.S) among others.

Segments:

The global HR Payroll Software market has been segmented on the basis of application, end users and region.

HR Payroll Software Market by Type:

Software

Employee Self-Service Software
Claims Reimbursement Software
Leave Management Software
HR Payroll Software Market by Application:

Payroll
Employees Benefits
Tax filings
Employees records
Performance review
Learning Management
Time & attendance
Leave Management
Reimbursement & loans
Others
HR Payroll Software Market by Services:

Installation
Up-gradation
Modification
HR shared services
Service activity reports
HR Payroll Software Market by Deployments:

On-premises deployment
Cloud hosted deployment
HR Payroll Software Market by End-User:

Large scale industry
Medium scale industry
Small scale industry
Others
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Regional Analysis:

The regional analysis of HR Payroll Software market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. HR Payroll Software system has driven by increase in its client base for online HR administration products, retirement services, HR solutions, insurance services, and an increase in the number of health and benefits applicants.

It has been observed that North America region is the leading in HR Payroll Software market. The study reveals that Europe region is expected to show a positive growth in the HR Payroll Software market during the forecast period. Asia-Pacific countries like China, Japan and South Korea have a fair share in the HR Payroll Software market.

Study Objectives of HR Payroll Software Market:

To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the HR Payroll Software market.
To provide insights about factors affecting the market growth.
To analyze the HR Payroll Software market based porter’s five force analysis etc.
To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
To provide country level analysis of the market with respect to the current market size and future prospective.
To provide country level analysis of the market for segment on the basis of type, end-user and region.
To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the HR Payroll Software
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Intended Audience

Software investors
Compensation and benefits software
HR management software
Talent management software
Learning management software
Workforce management software
Recruiting software
Security Management Service Provider
Security Equipment Providers
Security Agencies
System Integrators


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