CLEVELAND and CHICAGO, Feb. 16, 2016 /PRNewswire/ -- Emerging technology-focused companies are dramatically changing the competitive landscape in the human resources outsourcing (HRO) industry, according to the Business Services Insider, an industry report released by Brown Gibbons Lang & Company (BGL) and accessed here. HR technology and HR service are converging as the industry moves toward fully-integrated solutions.
The BGL report examines the new environment in technology-enabled HRO services, supported by findings from a roundtable survey of leading industry executives in the space. "HR professionals are being squeezed by being asked to do more with less," said Scott Millson, CEO of Millson James, one of the firms that participated in the report. "They need help, and the market has responded with improved technology and services to help address this pain point."
Organizations are continuing to increase spending on human capital management (HCM) technology, with employee productivity and engagement at the core of HR technology innovation.
- More robust technology and service are in demand in the small business and middle markets with increased adoption of enterprise HCM features anticipated. End user engagement will continue to be a focal point of providers.
- Best-in-breed philosophy is expected to drive consolidation within payroll and benefits administration as providers look to deepen expertise through acquisitions. Technology will facilitate the integration of disparate systems and forge new strategic partnerships.
- Private equity and venture investors will continue to play a key role in helping providers broaden their solutions offerings and develop new and innovative technologies.
About Brown Gibbons Lang & Company
The Business Services team at Brown Gibbons Lang is currently working with a number of HR and other technology companies at all stages to support their capital market needs.
Brown Gibbons Lang is a leading independent investment bank serving the middle market. BGL specializes in mergers and acquisitions advisory services, debt and equity placements, financial restructuring advice, and valuations and fairness opinions, with global industry teams in Business Services, Consumer, Environmental & Energy Services, Healthcare & Life Sciences, Industrials, and Real Estate. BGL has offices in Chicago and Cleveland and real estate offices in Chicago, Cleveland, Irvine, and San Antonio, in addition to Global M&A partner offices in more than 50 countries across 5 continents. BGL is able to deliver to our clients unparalleled access to strategic relationships, investors, and opportunities globally. For more information, please visit www.bglco.com.
SOURCE Brown Gibbons Lang & Company