Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Fintech PR

Payroll Service Market Anticipates Strong Growth Amid Rising Automation Demand

Published

on

payroll-service-market-anticipates-strong-growth-amid-rising-automation-demand

MIAMI, Jan. 5, 2025 /PRNewswire/ — The cloud-based payroll software market is set for continued growth, with projections showing a significant increase in market value over the next few years. This trend reflects a growing reliance on automated systems to manage payroll processes, boosting efficiency and reducing manual errors.

The payroll service industry is evolving rapidly, driven by advancements in technology and shifting workforce dynamics. As 2025 begins, businesses are turning to payroll processing service providers more than ever to streamline operations, reduce costs, and ensure compliance in an increasingly complex regulatory environment.

Technological Advancements in Payroll Solutions

Payroll solutions are entering a new era, driven by cutting-edge technologies like cloud computing, artificial intelligence (AI), and machine learning. These advancements are transforming payroll management, enabling real-time data access, automating complex tasks, and minimizing errors. From precise tax calculations to seamless benefits administration and accurate employee compensation, modern payroll systems are tackling challenges with unparalleled efficiency. As businesses increasingly embrace these innovations, the role of technology in redefining payroll services continues to make headlines, highlighting its impact on streamlining operations and ensuring compliance.

Streamline Your AP Processes—Book Your FREE 30-Minute Consultation Now! :

“Our clients are benefiting from faster processing times, automated compliance updates, and an overall reduction in manual work,” said Ajay Mehta, CEO of IBN Technologies. “The role of technology in payroll management cannot be overstated, and it’s helping businesses focus on growth rather than administrative tasks.”

Adapting to a Changing Workforce

Most of the top companies embrace remote, hybrid, and gig economy workforces, manage payroll processing to accommodate diverse employment models. This includes handling multi-state and international payroll, managing freelancers, and ensuring compliance with varying tax laws.

“Businesses are increasingly hiring remote workers and freelancers, making it more critical than ever for payroll service providers to ensure that they are compliant with complex regulations,” said Ajay Mehta, CEO of IBN Technologies. “Our clients can rely on us to navigate these challenges and provide seamless payroll experiences.”

Why Automation is the Future of Payroll

Advertisement

As 2025 unfolds, payroll services are undergoing a transformative shift, driven by automation, cloud technology, and AI. Cloud-based platforms are offering businesses unparalleled flexibility, while automation streamlines processes, reduces errors, and enhances accuracy. Integration with HR and financial systems simplifies operations, and self-service portals empower employees with greater transparency and control. Meanwhile, advanced solutions are tackling the complexities of global compliance, ensuring businesses meet international regulations. Together, these innovations are revolutionizing payroll, creating a more efficient, secure, and employee-focused experience for the modern workforce.

Modern Payroll Management

Companies like IBN Technologies is at the forefront of driving innovation and efficiency in modern business operations. By leveraging advanced technologies like automation, AI, and seamless integrations, they empower enterprises to streamline processes, enhance accuracy, and meet the demands of a dynamic global market. Focused on delivering customized solutions, IBN is transforming traditional workflows into agile, efficient systems, setting new benchmarks in operational excellence.

About IBN Technologies

IBN Technologies LLC, an outsourcing specialist with 25 years of experience, serves clients across the United States, United Kingdom, Middle East, and India. Renowned for its expertise in RPA, Intelligent process automation includes AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022, CMMI-5, and GDPR standards. The company has established itself as a leading provider of IT, KPO, and BPO outsourcing services in finance and accounting, including CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries. It offers customized solutions that drive efficiency and growth.

Contact Details:  

Pradip
[email protected]
+1 – 844 – 644 – 8440  

USA: IBN Technologies LLC
66 West Flagler Street Suite 900 Miami, FL 33130  

India: Global Delivery Centre 
IBN Technologies Limited
Kohinoor House, 2nd floor,
691/A/1B, Plot no. 7,
Bibwewadi Road, Pune-411037  

Description- Payroll services transform with AI, cloud tech, and automation, enhancing efficiency, accuracy, and compliance.

Advertisement

Logo – https://mma.prnewswire.com/media/2581946/IBN_Technologies_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/payroll-service-market-anticipates-strong-growth-amid-rising-automation-demand-302342396.html

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Fintech PR

Markel appoints Grant Smith to lead its Transport and Logistics team in International Specialty

Published

on

markel-appoints-grant-smith-to-lead-its-transport-and-logistics-team-in-international-specialty

LONDON, Jan. 8, 2025 /PRNewswire/ — Markel, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced that Grant Smith is to head up its Transport and Logistics team, with immediate effect.

In his expanded role, Smith will be responsible for defining the underwriting strategy for the Transport and Logistics team, centered on driving sustainable, profitable growth. Smith will also be tasked with expanding market share, driving product development and further establishing Markel as a market leader in transport and logistics.

Smith takes on his new role in addition to his responsibilities as Director of Marine and Energy Liabilities – a role he was appointed to in August 2024. He will continue to report to Tom Hillier, Managing Director, International Specialty, at Markel.

Hillier commented: “Transport and logistics companies currently face a heightened risk environment, due to global economic contraction, heightened geopolitical tensions and increasing technological and regulatory risks. At times such as these, it’s crucial that companies have the right insurance partner who can help ensure they have comprehensive insurance cover in place that meets their evolving needs.

“I’m therefore delighted that Grant will be leading our Transport and Logistics team. Grant has already made a significant impact and contribution to Markel since joining earlier this year. His leadership, knowledge and experience of underwriting these classes of business will be hugely important as we continue to partner with clients and brokers and help them to navigate this evolving risk landscape.”

Smith has extensive knowledge of the insurance market, having spent more than 17 years of his career working in various underwriting and leadership positions across these classes of business. Prior to joining Markel in August 2024, he worked as Portfolio Manager Specialty at QBE European Operations – a role he held since 2014. Before joining QBE as a Marine and Energy Liability Underwriter in 2011, Smith had spent five years working in various underwriting roles across marine and aviation at Travelers.

About Markel
We are Markel, a leading global specialty insurer with a truly people-first approach. As the insurance operations within Markel Group Inc. (NYSE: MKL), we operate the Markel Specialty, Markel International, and Markel Global Reinsurance divisions, as well as State National, our portfolio protection and program services operations, and Nephila, our insurance-linked securities operations. Our broad array of capabilities and expertise allow us to create intelligent solutions for the most complex risk management needs. However, it is our people—and the deep, valued relationships they develop with colleagues, brokers and clients—that differentiates us worldwide.

Markel logo

Photo – https://mma.prnewswire.com/media/2592803/Markel_Grant_Smith.jpg

Logo – https://mma.prnewswire.com/media/2090808/Markel_primary_logo_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/markel-appoints-grant-smith-to-lead-its-transport-and-logistics-team-in-international-specialty-302344912.html

Continue Reading

Fintech PR

NFP Acquires HR Suite, a Leading Irish Human Resources Consultancy and Training Specialist

Published

on

nfp-acquires-hr-suite,-a-leading-irish-human-resources-consultancy-and-training-specialist

NFP’s first acquisition of an Ireland-based HR services business will strengthen the company’s portfolio of human capital solutions

DUBLIN, Jan. 8, 2025 /PRNewswire/ — NFP, an Aon company and a leading international brokerage and consulting firm, today announced its acquisition of The HR Suite, a leading human resources consultancy and training business with offices across Ireland. Caroline Reidy, managing director and founder of The HR Suite, will lead NFP’s specialist HR division in Ireland and report to Colm Power, managing director, NFP in Ireland.

“We’re excited to welcome Caroline and The HR Suite team to NFP,” said Matt Pawley, president, NFP in Europe. “The team’s undeniable knowledge and expertise, combined with our shared core values and dedication to enhancing client outcomes, provide a solid foundation for many future successes. I can’t think of a better person or group to spearhead our HR division in Ireland and can’t wait to collaborate on delivering exceptional solutions and capabilities to clients.”

Established in 2009, The HR Suite offers HR system solutions and HR outsourcing services to help large employers, multinational companies and small and medium-sized enterprises improve and streamline their human resources functions. As the firm’s founder, Caroline Reidy has become a recognised, well-respected author and speaker in the HR space and beyond.

“We’re thrilled to join NFP in Ireland and create more value for our employees and clients,” said Reidy. “Our service and commitment to delivering exceptional HR offerings remain the same, and with NFP’s global solutions and resources we can now offer more comprehensive solutions and support to clients in Ireland, including outplacement, employee benefits, pension, and health and safety.”

About NFP
NFP, an Aon company, is an organisation of consultative advisors and problem solvers helping companies and individuals address their most significant risk, workforce, wealth management and retirement challenges. We are more than 7,700 colleagues in the UK, Ireland, US, Puerto Rico and Canada serving a diversity of clients, industries and communities. Our global capabilities, specialised expertise and customised solutions span commercial business insurance, employee benefits, people consultancy, health and safety, and individual financial planning. Together, we put people first, prioritise partnerships and continuously advance a culture we’re proud of. Visit www.nfpireland.ie to learn more.

Logo – https://mma.prnewswire.com/media/945522/nfp_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/nfp-acquires-hr-suite-a-leading-irish-human-resources-consultancy-and-training-specialist-302345477.html

Continue Reading

Fintech PR

HashKey Receives VASP Registration Approval from the Central Bank of Ireland

Published

on

hashkey-receives-vasp-registration-approval-from-the-central-bank-of-ireland

HAMILTON, Bermuda, Jan. 8, 2025 /PRNewswire/ — HashKey Group (“HashKey”), a leading end-to-end digital asset financial services group in Asia, today announced that HashKey Europe Limited (“HEL”) a member of the HashKey Group has obtained Virtual Asset Service Provider (VASP) registration approval from the Central Bank of Ireland. This is HashKey Group’s first VASP license fully compliant with the EU’s Fifth Anti-Money Laundering Directive (AMLD5), underscoring its commitment to building a global Web3 ecosystem within a highly compliant regulatory framework.

The VASP registration allows HashKey Europe Limited to provide a wide range of regulated services, including:

  • Exchange between virtual assets and fiat currencies
  • Exchange between one or more forms of virtual assets
  • Transfer of virtual assets, that is to say, conduct a transaction on behalf of another person that moves a virtual asset from one virtual asset addressor account to another
  • Custodian wallet services

Ben El-Baz, Managing Director at HashKey Global, said: “Securing VASP registration from the Central Bank of Ireland represents a significant milestone in HashKey’s global exchange business expansion. It underscores our steadfast commitment to compliance, security, and building trust. We are excited to establish a new presence in the EU, bringing us one step closer to aligning with MiCA regulations and advancing our mission to drive responsible innovation in the digital asset space.”

Prior to securing VASP approval in Ireland, HashKey Group had obtained licenses in Hong Kong, Singapore, Japan, and Bermuda, positioning itself as a trusted global leader in the virtual asset industry. HashKey Europe Limited is registered and supervised by the Central Bank of Ireland for Anti-Money Laundering and Countering the Financing of Terrorism purposes only.

HashKey Group remains dedicated to supporting the sustainable growth of the virtual economy by ensuring compliance with international regulations, delivering value-added services, and fostering trust within the ecosystem.

About HashKey Group

HashKey Group is a leading digital asset financial services group in Asia with global operations in regions such as Hong Kong, Singapore, Japan, and Bermuda. Since 2018, HashKey Group has built a global Web3 ecosystem within a high-compliance regulatory framework, including HashKey Exchange, a licensed virtual asset exchange regulated by the Hong Kong SFC; HashKey Global, the global flagship digital asset exchange; HashKey Capital, a global asset manager investing exclusively in blockchain technology and digital assets; HashKey OTC, the compliant over-the-counter (OTC) trading arm of HashKey Group, HashKey Cloud, a leading provider of global Web3 infrastructure; and HashKey Tokenisation, a tokenisation services provider.

HashKey Group also possesses a rich on-chain ecosystem, having developed the Ethereum Layer 2, HashKey Chain, and has listed the HashKey platform token HSK. HashKey Group is committed to driving the mass application of blockchain technology, aiming to provide trustworthy and accessible digital asset services to one billion global users.

View original content:https://www.prnewswire.co.uk/news-releases/hashkey-receives-vasp-registration-approval-from-the-central-bank-of-ireland-302345555.html

Continue Reading

Trending