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Companies and investment promotion agencies remain bullish on the growth in the technology services industry in the coming years as emerging technologies use-cases of cloud, AI, and cybersecurity will become mainstream. Most product organizations, technology enterprises, and startups are headquartered in the US. Latin America: .
Market volatility, uncertainty, complexity, and ambiguity are some of the factors forcing SSCs to pivot their business models to buffer them from future shocks. These challenges include understanding value that can be extracted from these centers, measured in tangible metrics that align with business objectives.
The GlobalBusinessServices (GBS) market has witnessed improvement in performance, enhancements in role, and growth across verticals and functions over the years. Talent CoE: The talent CoE develops the strategic services, capabilities, and best practices for staffing, e-learning, and employee onboarding.
The Global IT-BP Services Industry Will Continue to Grow and Shift A vast majority of enterprises (82%) expect their globalservices budgets either to remain flat (39%) or increase in 2024 (43%). Further, enterprises expect to increase the leverage of GlobalBusinessServices and offshore locations.
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.
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.
Keep a hawk-eye on potential threats related to cybersecurity and invest in strengthening network infrastructures and stronger encryption algorithms to insulate against potential cyberattacks. Strengthen digital security and ensure tech readiness. Cyber risks are increasingly associated with political origins, including war and terrorism.
For example, Goldman Sachs is expanding its delivery footprint for engineering services and business innovation by employing over 2000 full-time equivalent employees (FTEs), FedEx is establishing a center of innovation for supply chain optimization, and Lloyds Banking Group is utilizing the location for delivering cybersecurityservices.
The pandemic has impacted all businesses, small and large. In many cases the difference between a successful business resiliency story and an unsuccessful one was the quality and maturity of its GlobalBusinessServices (GBS) organization. Increased focus on performance, value creation and customer centricity.
Best Regards Katrina Menzigian Vice President, Analyst Relations Engagement Thought Leadership Navigating COP28: Insights on the Evolving Landscape of Sustainability | Blog Tech Services Forecast For 2024 | Blog Examining the Impact of the Israel-Hamas Conflict on Cybersecurity Innovation | Blog Revolutionizing Intelligent Automation with Generative (..)
Best Regards Katrina Menzigian Vice President, Analyst Relations Engagement Thought Leadership Navigating COP28: Insights on the Evolving Landscape of Sustainability | Blog Tech Services Forecast For 2024 | Blog Examining the Impact of the Israel-Hamas Conflict on Cybersecurity Innovation | Blog Revolutionizing Intelligent Automation with Generative (..)
Cybersecurity has rapidly ascended the priority list for enterprises worldwide, and for good reason. High-profile breaches and ransomware incidents over the last few years have made cybersecurity concerns a boardroom agenda. Five key cybersecurity predictions for 2025 1.
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