Multi-country Payroll (MCP) solutions is one of the fastest growing markets in the HR outsourcing space. While the traditional parameters of compliance and security are still the most critical for enterprises when adopting MCP solutions, new drivers such as employee experience, insights through analytics, and next-generation digital solutions such as Artificial Intelligence (AI) and Robotic Process Automation (RPA) are also gaining importance. Service providers have performed well on the traditional drivers of cost reduction, process standardization, and compliance, but buyers expect more in terms of technology integration and strategic support, especially with employee experience becoming a key focus area for enterprises. As the market evolves, service providers would need to continue to innovate and differentiate themselves to provide a better payroll experience to clients and maintain a strong foothold in the market.
In this research, we analyze the MCP solutions market across various dimensions:
MCP solutions market overview
Buyer adoption trends
Solution and transaction trends
Service provider landscape
Scope
Deals in which payroll calculation (gross-to-net) have been necessarily outsourced
Deals that have at least two countries in scope
All industries and geographies
Contents
This report provides comprehensive coverage of the 2019 MCP solutions market and analyzes it across various dimensions, such as market overview, buyer adoption trends, solution and transaction trends, and service provider landscape. Some of the key takeaways from the report are:
With growing awareness of MCP solutions’ value proposition and increasing provider maturity, this growth momentum is likely to continue for the next few years
Given the regulatory dynamics across many regions, many first-time adopters are looking to outsource their payroll to service providers
The market continues to be dominated by a few players. However, many new players catering to the small-sized segment have entered the market
