Shared services, outsourcing poised for growth in 2024: SSON report
NEW YORK, UNITED STATES — The Shared Services and Outsourcing industry is witnessing a remarkable growth trajectory.
The industry, integral to multinational enterprises, is evolving significantly, driven by technological advancements and the widespread adoption of the Global Business Services (GBS) model.
A key highlight is the expansion of center numbers, with 8,000 captive centers and over 3,000 outsourced centers globally. The GBS model is also increasingly embraced, with 68% of operations already operating as GBS and an additional 16% planning to adopt it, showcasing a strong commitment to this model.
According to a report by the Shared Services & Outsourcing Network (SSON), the scope of Shared Services/Global Business Services (SSO/GBS) is also broadening. Currently, 26 processes are in scope for at least 10% of enterprises, a significant increase from the initial finance transactional processes. This expansion is set to continue, with 85% of SSO/GBS planning to extend their scope in the coming year.
Digital transformation plays a crucial role in this growth. About 83% of SSO/GBS are supporting their enterprise’s digital agenda, with 27% taking a leadership role. This strategic involvement in digital initiatives reflects the industry’s shift towards more value-added activities and core business support.
The report also underlines the high placement of SSO/GBS in corporate structures, with 66% reporting directly to C-level executives. This high-level positioning highlights the strategic importance and impact of SSO/GBS in organizational success.
Overall, SSON’s report highlighted the industry’s evolution into a critical player in digital innovation and business strategy. The report also foresees a future of continuous growth and increasing strategic value for the sector.
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Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
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