For the objective of cutting costs, organisations have begun to centralise their back-end services. Through shared services, a company’s various divisions or subsidiaries can share internal processes or non-core business operations including inventories, hiring, payroll, finance, purchasing, and information technology. Shared services assist in lowering costs that would otherwise be greater if these services were used independently by various business units.
Majority of the companies globally use shared services. Further, the market is expected to grow at a rapid pace due to increase in number of deals in shared services market across public and private sectors. Shared services save approximately 20 to 30% of the cost which motivates the companies to adopt this service.
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Shared Services Market: Drivers and Restraints
Apart from being cost efficient, shared services also provide process efficiency to the companies. All the internal functions are standardized using shared services, therefore making the whole process smooth and efficient. Location proximity is also one of the important drivers for shared services market
However, implementing shared services is a complicated process as it requires change in the entire infrastructure and business process of the organization. It also takes a lot of time to implement shared service across the organization.
Trends prevailing in the Shared Services Market:
Robotic process automation is a major trend prevailing in the shared services market wherein enterprises focus on reducing manual work by introducing robotic software to do the repetitive tasks. Process automation reduces redundancy along with delivering expected output while cutting down on costs.
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Global Shared services Market: Market Segmentation
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Global Shared services Market Players
Some of the prominent players in the shared services market include Accenture, Infosys, IBM, Symantec, Oracle, Cognizant, Hackett Group, TCS, SAP and Atos among others.
Regional analysis for Global Shared services Market includes
- North America Shared services Market
- US & Canada
- Latin America Shared services Market
- Brazil, Argentina & Others
- Europe Shared Services Market
- EU5
- Nordics
- Benelux
- Poland
- Russia
- Asia Pacific Shared Services Market
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan Shared Services Market
- Middle East and Africa Shared services Market
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
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