Staffing Industry Analysts Report Finds Virtual Assistant Industry Strong in Pandemic

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Report cites growth drivers, notes the rise in use of VAs by enterprise businesses.

Staffing Industry Analysts Report: The Virtual Assistant Landscape

Staffing Industry Analysts Report: The Virtual Assistant Landscape

After strong growth in the SMB market, larger mid-market and enterprise businesses are embracing VA services for their expertise in management, flexibility and productivity benefits.

Prialto, a leading provider of managed virtual assistant services, announced the release of a report by Staffing Industry Analysts (SIA) that studies the state of the U.S. virtual assistant (VA) industry. The report, “The Virtual Assistant Landscape: An emerging part of the Workforce Solutions Ecosystem,” commissioned by Prialto, is the first analyst study to assess the growth drivers, service models, and the outlook of the VA industry.

Key findings include:

The Virtual Assistant (VA) market was in robust health before the onset of COVID-19 in Q1 2020.

VA firms took an initial hit to demand, but growth for many is now back to pre-COVID levels.

After strong growth in the SMB market, larger mid-market and enterprise businesses are embracing VA services for their expertise in management, flexibility and productivity benefits.

“Up to now, the market for Virtual Assistants has been rather neglected and under-researched but is an interesting and emerging category of contingent labor,” said John Nurthen, SIA's Executive Director Global Research. “The market is well-established with more than 170 vendors globally (and a large cohort of sole traders) and is set to benefit from compelling secular business trends, not least of which is improving attitudes towards remote work."

"The study confirms that virtual assistant and remote staffing services have come of age and represent a growing category in the broader staffing ecosystem," said Prialto founder and CEO Eric Taussig. "That enterprise businesses embrace the virtual assistant role is a testimony to the efficiency and productivity gains we can bring to their teams."

The report, "The Virtual Assistant Landscape: An Emerging Part of the Workforce Solutions Ecosystem," charts the evolution of the virtual assistant and where the concept now sits within the broader staffing marketplace—including the rising use of VAs by enterprise businesses. Issues covered include:

The Virtual Assistant Marketplace—where the virtual assistant industry fits in the larger Business Process Outsourcing (BPO) industry.

Business Portfolios and Differentiation—the different services and business models provided by virtual assistant companies.

Virtual Assistants v Temporary Workers v Freelancers—a comparison of service delivery models.

Outsourcing v Offshore—the pros and cons of offshore, nearshore and U.S.-based businesses.

Market Trends and Impact of COVID-19—how the pandemic and shutdowns impacted the virtual assistant industry.

Enterprise-Level Services—the migration of virtual assistants from SMB to enterprise services.

Legal Issues—the legal concerns surrounding overseas employees and part-time workers.    

Outlook—what's ahead for the virtual assistant industry in the context of continued digital transformation, especially for enterprise businesses.

This custom research report was originally commissioned by Prialto. All research was conducted by SIA. To download the report, visit https://www.prialto.com/sia-va-landscape-report                                                                                                                                                                                                

About Prialto

Prialto provides virtual administrative assistants to executives, small businesses, and large enterprises. Their virtual executive assistant services are curated and managed from their headquarters in Portland, Oregon, with creative insights from their global staff in Asia and Central America. Their global telecommuting enables talented people from anywhere in the world economy to do meaningful work with dynamic business professionals in amazing places like San Francisco, New York, Chicago, Austin, and Los Angeles. For more information, please visit prialto.com. Follow us on Twitter and LinkedIn @Prialto.

About Staffing Industry Analysts

Founded in 1989, SIA is the global advisor on staffing and workforce solutions. Our proprietary research covers all categories of employed and non-employed work including temporary staffing, independent contracting and other types of contingent labor. SIA’s independent and objective analysis provides insights into the services and suppliers operating in the workforce solutions ecosystem including staffing firms, managed service providers, recruitment process outsourcers, payrolling/compliance firms and talent acquisition technology specialists such as vendor management systems, online staffing platforms, crowdsourcing and online work services. We also provide training and accreditation with our unique Certified Contingent Workforce Professional (CCWP) program.

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Bill Peatman
Prialto
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