About Electronic Payslip Service
Electronic payslips, often known as 'epayslips,' are payslips that are accessible to employees via secure web portals. Employee self-service is the name of the online web portal. Employees may view their payslips immediately from a secure website using their computers, laptops, iPads, or smartphones, to ESS's ePayslips feature. Printing and distributing hard-copy payslips takes time and money. Employees will be able to download and print their payslips via the internet using ePayslips. It's a simple process for them, and it helps the accounting and HR departments save time. Each payslip is only accessible by each individual member of staff via the employee self-service online portal using their own designated username and password. The employee is given a username and password to log into ESS during the setup process. They can then use this to access their epayslips. Employees can change their ESS login password as often as they like.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
To stay competitive, software beast’s key players are focusing on this market. Cloud-based offers scalable and dependable software while decreasing client infrastructure expenses. Clients can save money on infrastructure by adopting provider-provided cloud-based applications. The companies are exploring the expansion fueled by acquisition, mergers, with more than a dozen purchases covering analytics, team communication, machine learning, identity management, business planning, and more to remain in the competition. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Electronic Payslip Service market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
CGI Inc. (United Kingdom), FMP Global (United Kingdom), Zunoma (United Kingdom), The Access Group (United Kingdom), Harding Financial (United Kingdom), JC Payroll Services (United Kingdom), PayPlus Software, Inc. (United States), Automatic Data Processing (United States), SAP SE (Germany), Oracle Corporation (United States) and Ceridian HCM, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Easy Paye (United Kingdom), CoreHR (Ireland), International Business Machine (United States), Symtrax (United Kingdom) and Hills Accountants (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Electronic Payslip Service market by and Region.
On the basis of geography, the market of Electronic Payslip Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Epayslips Access Type, the sub-segment i.e. Email PDF Payslips will boost the Electronic Payslip Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Category, the sub-segment i.e. In-House Payroll (First Party) will boost the Electronic Payslip Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Enterprise Size, the sub-segment i.e. Small will boost the Electronic Payslip Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. BFSI will boost the Electronic Payslip Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Device, the sub-segment i.e. Desktop/Laptop will boost the Electronic Payslip Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Demand in Remote Access for Payroll Teams and Growing Awareness Regarding the Various Benefits of Payslips Services
Market Growth Drivers:
Delivering Electronic Payslips Is Cost-Effective as Compare to Provide Paper Payslips and Reduce Time Spent On Manual Processes
Challenges:
The main concern was that not all employees would want to receive an electronic payslip
Restraints:
High Cost of Deployment
Opportunities:
Growing demand from the larger enterprises and Increasing Demand for Business Accounting Mobile Applications
Market Leaders and their expansionary development strategies
In December 2023, Sage HR joined forces with DocuSign for e-signature integration on employee documents, including payslips. This partnership between Sage HR and DocuSign aligns with the growing trend of digital transformation in HR, particularly the adoption of paperless processes and secure electronic document workflows. With the increasing popularity of e-payslips and the need for secure document management.
In November 2023, Zenefits launched Zenefits Go, a comprehensive HR platform with customizable e-payslips and automated payroll processes. Zenefits Go's launch received positive attention from industry analysts and businesses, recognizing its potential to compete with established players like ADP and Gusto.
Key Target Audience
Electronic Payslip Service Providers, Electronic Payslip Service Enterprise users, Electronic Payslip Service Suppliers, Electronic Payslip Service International Traders, Research and Development Institutes, Financial Institutes and Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.