The Europe Cloud-based Payroll Software Market would witness market growth of 5.2% CAGR during the forecast period (2017 - 2023). Cloud-based payroll software is used to track the data so gathered, which is then used to calculate salary compensation of the employees. The cloud-based payroll software is superior to on-premises software, and offers benefits such as cost-effectiveness.
The cloud-based payroll software market is driven due to features such as secured cloud backup of data, ease of system enhancements & updates, and advantages over on-premise solutions. Nevertheless, regulatory compliances and synchronizing domestic HR processes with global HR standards are the factors that hinder the market growth significantly. The cloud-based payroll software market is a competitive environment, as there are many large players within the business landscape.
The cloud-based payroll software market growth would be moderate due to the number of SMEs that have initiated deployment of cloud-based solutions. Based on Organization Sizes, the market report segments the market into Small & Medium Enterprises and Large Enterprises. Based on Verticals, the Europe Cloud-based Payroll Software market segments the market into Retail, BFSI, Healthcare, Manufacturing, Telecom & IT, and Others.
Based on Countries, the Europe Cloud-based Payroll Software market segments the market into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe. The market research report covers competition analysis of key stakeholders of the Europe Cloud-based Payroll Software Market. Key companies profiled in the report include ADP, Inc., Ascentis HR Software, Morneau Shepell Inc. (Ceridian HCM, Inc.), Unit4 (FinancialForce Software), Iris Software Group Limited, Kronos Incorporated, Oracle Corporation, Paycom Software, Inc., Sage Group, and Zenefits Software.
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