Scope of the Study
Payroll software with direct deposit provides instant access to the employees, reduces paper and establishes consistent pay period. This software helps in increasing the efficiency hence saves hassle and time required to deposit cheque. However, direct deposits may depends on the law of the country. Further, in case the employee does not have the bank account, the payment can be completed through pay card. These features of direct deposit enhances employee job satisfaction which is fuelling the market growth.
The market study is being classified and major geographies with country level break-up.
Zenefits (United States), Rippling (United States), Ramco (India), Intuit (United States), Kronos (United States), Bird Dog HR (United States), Namely (United States), Gusto (United States), ADP LLC (United States) and Paycor (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Vibe HCM (United States), Viventium (United States), Eddy HR (United States) and Ascentis (United States).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Direct Deposit Payroll Software market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Direct Deposit Payroll Software market by Type, Application and Region.
On the basis of geography, the market of Direct Deposit Payroll Software 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Benefits such as reduced time to deposit and increased job satisfaction is fuelling the market growth.
- Rising adoption of Direct Deposit Payroll Software in small and medium enterprises
- High initial costs may hamper the market growth
- Stringent government regulations may hamper the time taken to deposit
- Increasing workforce is leading to implementation of safer direct deposit payroll software
- Transaction fee may be charged to transfer the money to employee’s account
Market Leaders and their expansionary development strategies
On August 2018, BirdDog HR has been acquired by Arcoro. BirdDog is a talent management software and managed services.
On December 2019, Quick Books has launched expanded suite of automated payroll services. It enables the small businesses to run payroll taxes automatically.
Key Target AudienceManufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
Customization in the Report Available:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase