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Coming off a bumper year in 2022 with double-digit growth driven by pent-up demand after the pandemic, the globalservices industry entered 2023 with macroeconomic uncertainty clouding the forecast. Exhibit 1: Key financial metrics for providers for 2022-23 2. Globalservices trends in 2023 resonate with this approach.
Setups of GlobalBusinessServices centers increase in India and China, providing evidence of post-COVID economic recovery. In its latest quarterly report on the global outsourcing industry, Everest Group revealed outsourcing demand held steady from Q3 to Q4 2021, with 404 transactions reported in each quarter.
GlobalBusinessServices (GBS) organizations have become essential to the enterprise as these shared service centers help to optimize costs and build talent strategies for the future. Read on to learn more about the benefits GBS offers.
In fact, more than 80% of respondents expect their investments in outsourcing for IT services (ITS) and business process services (BPS) to stay the same or increase in 2023 over 2022, and more than 40% are optimistic about growth in their globalservices budgets in the coming year. 4 position.
3 positions in expectations for 2022 and 2023, respectively. “’Do Do more with less’ will be the mandate in 2024 for both enterprises and service providers,” said Hrishi Raj Agarwalla, vice president at Everest Group. Further, enterprises expect to increase the leverage of GlobalBusinessServices and offshore locations.
While most GCCs have successfully delivered upon their initial mandates for growth, concerns are mounting that they are increasingly viewed as mere offshore role aggregators as opposed to value generators.
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