Shared Services: Changing Faster Than Ever!
The ongoing changes in innovation, analysis, process and automation of the shared services industry have resulted in the need for an even greater transformation. In partnership with SSON, Chazey Partners is pleased to share with you the State of the Global Shared Services Market Report 2019. It updates the research on the trends and characteristics of today’s Shared Services Organizations (SSOs) and highlights five core areas that guide the modern Shared Services Operating model:
- SSO Landscape and Operating Model
- Automation and the Digital Workforce
- Tomorrow’s Brave New World: How Ready Are You?
What is clear from this report and from Chazey’s own research and experience is that things are moving faster than ever. Changes that previously occurred over many years are now happening over months or a few short years, and some organizations are leapfrogging previous steps to achieve the maximum potential opportunity in the shortest possible timescale. The report has also highlighted several key trends that are re-shaping the shared services world:
- A significant and growing interest in pursuing Global Business Services (GBS) as an achievable model.
- Innovation and productivity improvements are also top of the agenda for today’s SSOs.
- New technology is really disrupting the Shared Services and Outsourcing space, including Intelligent Automation (IA) and Robotic Process Automation (RPA).
- Social media and the need for mobile solutions are also driving technology adoption and associated standardization of business processes.
- “Big data” and data analytics have become a significant value-add opportunity. This has been supported by the growing use and development of Centers of Expertise/Excellence (COEs), which focus more on “professional and technical” as opposed to “transactional and administrative” services and activities.
- With the flattening of the labor arbitrage opportunity and the potential for achieving what we have been calling “robotic arbitrage”, the desire to move to lower cost, offshore locations, especially to third party outsourcers, for broad service lines and process execution has been declining.
- Innovation, analysis, process and automation related skills and experience are leading the pack for future SSOs.
The State of Shared Services report is the 3rd in a series of market insights produced by SSON and Chazey Partners. The other two reports are: