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Demand for Shared Services Market Driven by Shifting Consumer Perceptions and Growing Awareness

10-29-2020 07:38 PM CET | IT, New Media & Software

Press release from: Persistence Market Research

Demand for Shared Services Market Driven by Shifting Consumer

Organisations have started to centralize their back-end services for cost saving purpose. The different divisions or subsidiaries of an organisation can share internal functions or non-core company activities such as inventory, hiring, payroll, finance, purchasing, and information technology through shared services. Shared services help in cost reduction which would otherwise be higher if these services are taken separately by different divisions of a company.
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.
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
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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Regional analysis for Global Shared services Market includes
• North America Shared services Market
o US & Canada
• Latin America Shared services Market
o Brazil, Argentina & Others
• Europe Shared Services Market
o EU5
o Nordics
o Benelux
o Poland
o Russia
• Asia Pacific Shared Services Market
o Australia and New Zealand (ANZ)
o Greater China
o India
o ASEAN
o Rest of Asia Pacific
• Japan Shared Services Market
• Middle East and Africa Shared services Market
o GCC Countries
o Other Middle East
o North Africa
o South Africa
o Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.

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