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[Report Ocean Press Release] We have conducted a survey to understand the status of the HR Payroll Software market in 2022.
Businesses across industries such as financial institutions, healthcare, information systems and telecommunications are turning to new technologies such as artificial intelligence-based solutions, automation, cloud-based technologies, and app-based HR and payroll software for contactless operations. It seems that
Survey period: August 1st to November 2nd, 2022
Research agency :
Survey contractor: Report Ocean Co., Ltd.
Survey target: The survey was conducted with 890 leaders from organizations of all sizes around the world.
Number of valid responses: (890 people)
Survey method: Telephone survey of 300 people, Internet survey of 590 people Survey Respondents: The survey was conducted across companies based on revenue. [Image 1
Survey results :
Q: Which components are in high demand in the HR payroll software market? By component, it is divided into software and services.
Based on component, the software segment dominated the HR payroll software market in 2021. Adopting HR payroll software offers many benefits to the industry, including streamlining business processes, eliminating manual processes, and reducing time and costs. further promote market growth.
Q: Which organization size has the highest share of the HR and payroll software market?
Depending on the size of the organization, it is categorized into small and medium enterprises (SMEs) and large enterprises. Big companies dominated the market in 2021.
Question: How is the HR Payroll Software market segmented by deployment? Separation between cloud and on-premises based on deployment mode. Based on deployment mode, on-premises segment will capture the largest HR payroll software market share in 2021. This is due to the many benefits offered by on-premises deployments, including high levels of data security and safety. The industry prefers on-premises models due to higher data security and less data breaches compared to cloud-based deployment models. This further increases demand for on-premises deployment models within the public and private sector.
Q: Which industry has the highest share of the HR and payroll software market? Depending on the industry vertical, it is classified into Financial Institutions, Retail, Manufacturing, Transportation & Logistics, Healthcare, Information Technology & Telecommunications, etc. [Image 5
Q: What are the key factors driving the HR Payroll Software market? HR payroll software is increasingly being adopted by businesses to improve profitability and working capital. Companies need to integrate business functions, resources and critical business processes and monitor probabilities to improve efficiency and productivity. In addition, many of the benefits associated with cloud-based technology are gaining traction among end-users. HR payroll software is expected to become more and more leveraged to improve
organizational performance and productivity.
Increased efficiency and elimination of manual work through automation of HR processes and increased engagement of mobile workforce are driving the growth of the market. Additionally, increasing use of cloud-based technologies and adoption of artificial intelligence present lucrative growth opportunities for the personnel and payroll software market. Moreover, rapid increase in adoption of app-based HR payroll software among businesses and individuals is expected to bring lucrative growth opportunities to the market in the coming years. Survey conclusions:
The future of HR payroll software depends on strong and robust integration. HR payroll software that easily integrates with other software and tools is essential in today’s evolving business environment. Additionally, the HR and payroll industry is turning to advanced technologies such as artificial intelligence (AI) and blockchain to streamline business processes and further drive the growth of the HR and payroll software industry.
Increasing use of HR and payroll software to improve business and customer experience in banking and finance, manufacturing, healthcare, and other sectors offers lucrative growth opportunities for the HR and payroll software market in the North America region To do.
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Dear members of the press