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The North American Market for Third Party Payroll, Payment and Healthcare Transaction Processing, 3rd Edition |
| Published Date : 1 August 2009 |
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Pages : 165 |
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The North American market for third party processing (TPP) services continues to perform well despite the global recession, with 2008 sales at $62 billion based on exceptionally strong growth during the past five years, and with 9%-10% average annual gains forecast through 2013. Seeking to offset the impact of lower employment figures in the payroll space and reductions in consumer use of credit in the payment space, third party processors continue to bank on the ongoing move from paper to electronic processing while waiting for government stimulus initiatives to kick in, especially in the healthcare arena. During the down economy major TPPs are also promoting new technologies to give their businesses a boost, working to increase revenues from existing clients, and tapping into related growth areas such as human resources outsourcing in the payroll space and mobile transactions in the payment space. At the same time, the market continues to see competitive upheaval, including Heartland’s 2008 purchase of the TPP business of Alliance Data Systems, and Fidelity National’s 2009 acquisition of Metavante in the payment market; and Emdeon’s 2008 emergence as an independent company and McKesson’s purchases of Per-Se (2007) and RelayHealth (2008) in the healthcare space.
This fully updated report critically and quantitatively assesses the market for data and payment-related transaction outsourcing. The report focuses particularly on three key segments—electronic payment processing, payroll processing, and healthcare transaction processing—with separate chapters tracing the service trends, market trends and competitive strategies driving market growth and competition within each of these industry segments. The report also examines third party processing as it relates to the Internet, as well as the development and expansion of Internet processing applications. In addition, it identifies and assesses the economic drivers and regulatory changes shaping each segment of the industry, as well as the trend whereby major competitors are adopting technologies and leveraging their massive infrastructures to expand beyond their traditional core businesses. Helping to illustrate these trends are competitive profiles of leading market participants including payroll processors Automatic Data Processing, Inc. (ADP), Paychex and Ceridian; payment processors First Data Corp., Fiserv and TSYS; and healthcare transaction processors Emdeon Corp., SSI Group and Availity.
About Author
Marigny Research Group, Inc. (MRG) is a producer of customized private-label market research reports, offering services including title development, research, market analysis, writing, editing, proofreading, desktop production, and marketing support, with a network of market research professionals that extends across the United States. Since 1986 MRG has authored more than 200 reports published under the imprint, covering consumer packaged goods, demographic, retail, and financial markets. Within these and other areas, MRG has developed complete report lines, most recently focusing on the burgeoning market for pet products and services.
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Table of Contents : |
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Chapter 1: Executive Overview
Scope & Methodology
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Market Definition
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Report Methodology
Market Overview
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Market to Near $100 Billion in Next Five Years
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Figure 1-1: North American Market for Third Party Processing, 2004-2013 (in billions of dollars)
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Figure 1-2: Share of North American Market for Third Party Processing: By Segment, 2004, 2008 and 2013 (percent)
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Major Companies Lead, But Plenty of Smaller Players
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Little Competitive Overlap
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A Move to the Web
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A Period of Retrenchment
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Impact of Recession—Moving Forward
Payroll Processing
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The Basics of Payroll Processing
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Payroll TPP Revenues Top $30 Billion in 2008
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Market Penetration at Less Than Half
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Negative Employment Trends
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Payroll TPP Organizations Growing in Number
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Figure 1-3: Number of Payroll Processing Establishments, 2002-2008
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The Market Leaders
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Scope of Payroll Processing Expanding
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Looking Ahead
Payment Processing
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Overview of Services
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Double-Digit Growth Continues But Tempers
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Credit Card Cutbacks, Shift to Debit
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Figure 1-4: Annual Percentage Change in Revolving Consumer Credit, 2004-2008
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Bank Mergers Could Mean Smaller TPP Market
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Competitive Landscape
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Pool of Competitors Consolidates Further
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Looking Ahead
Healthcare Transaction Processing
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Overview of Services
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Healthcare Transaction TPP Charting Steady Growth
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Increasing Costs a Major Concern in Healthcare Business
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Healthcare System Turns to TPPs for Cost Efficiencies
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Upheaval Among Market Kingpins
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Moving to Electronic Fund Transfer
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Looking Ahead
Chapter 2: Payroll Processing
Introduction
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The Basics of Payroll Processing
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The Rationale for Payroll Outsourcing
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Drawbacks to Payroll Outsourcing
Market Trends
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Market Sizing Methodology
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Payroll TPP Revenues Top $30 Billion in 2008
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Figure 2-1: Revenues for Firms Providing Payroll Services, 2003-2007 (in millions of dollars)
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Table 2-1: North American Market for Payroll Third Party Processing, 2004-2008 (in billions of dollars)
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Potential Client Base Over 5 Million Strong
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Table 2-2: Number of Firms, Establishments, Employees and Annual Payroll of U.S. Employer Firms, 2006
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Market Penetration Less Than 50% of Potential Market
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Negative Employment Trends Bad News for the Industry
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Table 2-3: Number of Employees on Non-Farm Payrolls, 2003-2008
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Table 2-4: Annual Percentage Change in Non-Farm Employment by Month, 2003-2009
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ADP National Employment Report Also Paints Negative Picture
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Avenues for Growth
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Small Business Health Another Key Barometer
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Projected Market Growth
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Table 2-5: Projected North American Market for Payroll Third Party Processing, 2008-2013 (in billions of dollars)
Competitive Overview
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Core Payroll TPP Services
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Payroll TPP Organizations Growing in Number
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Figure 2-2: Number of Payroll Processing Establishments, 2002-2008
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Plenty of Small Firms, But Largest Ones Dominate
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Table 2-6: Payroll Services Enterprises: By Employment Size and Annual Payroll, 2006 (number and dollars)
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The Market Leaders
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Table 2-7: Leading Payroll Third Party Processors, 2008 (in millions of dollars)
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Other TPPs in the Payroll Space
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The Role of Business Process Outsourcers (BPOs) and Human Resources Outsourcers (HROs)
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The Role of Application Service Outsourcers (ASOs)
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The Rise of Professional Employer Organizations (PEOs)
Competitor Profile: Automatic Data Processing, Inc. (ADP)
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The World’s Largest Payroll/Tax Filing Processor
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Figure 2-3: ADP Revenues, 2006-2008 (in millions of dollars) |
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Published By : Packaged Facts |
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Miscellaneous,
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