Press release
Shared Services Market to Witness Robust Expansion throughout the Forecast 2016 - 2026
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.
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.
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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.
Global Shared services Market: Market Segmentation
Global Shared Services Market can be divided into two segments, one based on functions provided by shared services and the other one based on number of shared services being implemented by the organizations.
Segmentation on basis of function in shared services market:
The major segments of functions in shared services market include:
CRM
F&A
HR
IT
SCM
Segmentation on basis of number of shared services Market:
The major segments of shared services market include:
One
Two
Three
More than three
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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.
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