Third Party Processors Set For Growth
October 6th, 2009
According to the third edition of The North American Market for 3rd Party Payroll, Payment & Healthcare Transaction Processing, a published report by Packaged Facts, a research firm and a part of Market Research Group LLC, the 3rd Party Processing market jumped in growth by more than eleven percent in the year 2008 to 61.9 billion. By 2013, it is anticipated to grow by another 57 percent!
Back-office tasks such as customer service, record management, accounts payable and receivable, payroll, transaction processing, human resources, and accounting are being contracted to third party services according to the report. To boost business, many major third party processors are offering mobile transactions and human resource outsourcing, among other new ideas.
Three sectors were focused on in regards to the outsourcing of data and payment transactions: payroll, electronic, and healthcare transaction processing. The Publisher of Packaged Facts, Tatjana Meerman, says “The drive for healthcare reform is helping to train public attention on using technology to streamline healthcare for patients and providers, a shift that won’t come overnight, but is likely.”
