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Payroll & Bookkeeping Services in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Payroll & Bookkeeping Services Market Research Report | NAICS 54121b | Mar 2016

Base value: The improving labor market will boost demand for industry services

IBISWorld’s Payroll & Bookkeeping Services market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$81bn
Annual Growth 11-16
7.8%
Annual Growth 16-21
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Profit
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Employment
929,849
Businesses
285,212
Industry Analysis & Industry Trends

Over the past five years, the industry has performed strongly as a large reduction in unemployment boosted industry revenue, as well as strong business conditions. In addition, the industry has benefited from the advancement of online and computer payroll and bookkeeping services, with new cloud-based offerings providing a new revenue stream for operators, and attracting new customers. Moving forward, increasing product penetration and an expanding customer base is expected to drive industry growth... purchase to read more

Industry Report - Industry Investment Chapter

The Payroll & Bookkeeping Services industry is labor intensive with a high degree of manual processes involved in most activities. In 2016, IBISWorld estimates that for every dollar spent

on labor, the industry invests $0.02

in capital.

The level of capital intensity is calculated with reference to industry wages and depreciation, representing 53.2% and 0.9% of industry revenue, respectively. Industry wages has been consistently decreasing as a portion of industry revenue, as computer automation grows. Firms are investing in a greater amount of software and other computer systems to reduce labor costs and provide direct solutions to customers. While there is still a degree of client interaction, the industry has evolved to provide more services online... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Payroll & Bookkeeping Services Industry?

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.

Industry Products
Full-service payroll servicesPayroll services sold separatelyBilling servicesBookkeeping and compilation servicesGeneral accounting servicesTax planning and consulting servicesTax preparation and representation servicesOther services
 
Industry Activities
Payroll servicesBilling servicesBookkeeping servicesGeneral accounting servicesTax services


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