Shared Services
Center Market: Overview
Shared services refer to a dedicated
unit including processes, people, and technologies that focuses on defined
business functions. It is structured as a centralized point of service and
delivery location. Supported by IT and IT services, these functions cater to
the requirement for diverse business units within the enterprise. Shared
services may involve copious IT processes and business functions and may come
from various physical locations.
A shared services center (SSC) is the
hub for shared services within an enterprise. It is a dedicated unit
responsible for executing and handling specific operational tasks such as human
resources, accounting, payroll, IT, compliance, legal, purchasing, security,
and others. These SSCs are often considered spin-offs of the corporate
services; they are aimed at separating all operation tasks from the corporate
headquarters, allowing them to focus on their core competencies instead. As
SSCs are intended to be cost-effective, they are highly cost-sensitive in terms
of their labor costs, location selection criteria, and headcount.
The report presents in-depth insights
into various factors that will influence the global shared services market
between 2016 and 2024, comprising exhaustive information pertaining to the
market’s historical performance and its development status. Aiming to provide
an executive-level blueprint of the prevailing competitiveness in the market,
the report also profiles some of the most prominent companies operating in the
market. Their performances are evaluated on the basis of financial overview,
strategies adopted, cost structure, and expansion trends, among others.
Shared Services Center Market: Key Trends and
Opportunities
The shared services center market
witnesses lucrative growth potential as enterprises around the world
increasingly focus on reducing the overall cost incurred on production and
improving the quality of the services delivered. Ingenious implementation of
SSCs at operation stages results in better operational efficiency and cost
reduction, along with enhanced productivity. Deploying an SSC framework,
therefore, helps companies focus on improving their core operations.
Poised to witness growth at an
impressive rate in the next few years, the clinical and pharmaceutical end-use
segments account for a substantial share of the global shared services center
market. The rapidly increasing demand for cost-effective treatment modalities
and redesigning the traditional pharmaceutical R&D model is anticipated to
boost demand from the global shared services center market.
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