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Essay / Research Paper Abstract
This 7 page paper examines the payroll company Paychex, looking at who they are, how they compete, their target market and they way in which they access that market and how they compete in that market. The paper then consider the potential difference between the way the US and the Germany companies operate. The bibliography cites 9 sources.
Page Count:
7 pages (~225 words per page)
File: TS14_TEpaychex.rtf
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Unformatted sample text from the term paper:
half a million clients in 2004 (Paychex, 2005). Financial growth has also been see with revenues for the first nine months of the tax year 2004/5 of more than $1.1
billion (Europe Intelligence Wire, 2005) an increase ion the 2203/4 years were revues ended at $1.3 billion for the year (Paychex, 2005). If we look at the way the company
operates is as a supplier of services that can be outsourced by small to medium sized companies; including payroll processing as a core service but also many complimentary services such
as workers compensation administration, 401(k) recordkeeping (Paychex, 2005). The company started with a simple idea, that with 98% of the US businesses having 100 employees or less, a figure that
is still accurate today, payroll was a service that could be outsourced. At the time Golisano went to his employer with the idea, but the company he worked for was
not interested not seeing sufficient value in the idea, so Golisano started put on his own. He started with only a single employee. However, as they were specialising in payroll
administration they were able to start out by gaining some economies of scale that were jot available to these smaller business where payroll was a very necessary., function, but one
that could also drain resources. The target market remains these small to medium sized companies and with increased considering of outsourcing by many companies the target market is growing.
If we look at this concept used by Paychex we can see how and why their services, along with their main competitors such as Dresser & Associate who have recently
introduced Sage Payroll Services as well as the more established ADP and Intuit. Outsourcing may be defined as " A long-term, results-oriented relationship with an external service provider for
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