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2021 was a milestone year for GlobalBusinessServices (GBS) with most enterprises reporting the model exceeded expectations for globalbusinessservices solutions and delivery. GBS leaders will need to rethink how best to control operatingcosts. We expect an average wage increase of 8.1%
Macroeconomic changes, talent shortages, and evolving trends, including technological advancements, have businesses increasingly relying on outsourcing as a strategy. These tools encompass a wide range of technologies requiring deep expertise in areas where your business is unlikely to have the team to accomplish this.
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. In fact, cost pressure was ranked as the number one business challenge in our annual key issues survey for 2023.
Miami, FL — September 28, 2023 — Human resources (HR) operatingcosts increased significantly in 2023, with key contributors being wage inflation and high turnover rates, according to new Digital World Class ® HR research from The Hackett Group , Inc. NASDAQ: HCKT).
For instance, India and Eastern Europe have become hubs for IT and software development talent Cost arbitrage: While cost savings remain a key driver, the focus has shifted to achieving cost efficiency without compromising quality.
Digital world-class procurement organizations continue to modernize the technology landscape, which explains why their technology cost is 20% greater than that of peers. This also includes investments in emerging technologies such as smart automation, advanced analytics, and collaboration tools that enable greater automation.
(NASDAQ: HCKT) today announced the winners of its 2021 Digital Awards, which spotlight companies that are on the cutting edge of using digital transformation solutions, including automation, advanced analytics, and AI to hyper-automate end-to-end businessoperations.
Focusing on higher-value roles, alongside increased automation, delivers substantially more value significantly faster as they close and consolidate financials 36% faster, complete forecasts five days sooner, and dedicate 82% more time to forward-looking analyses. These investments continue to reduce costs while increasing overall speed.
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