This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Our experts will also discuss critical globalservices decisions, including build vs. buy strategies, in-house vs. outsourcing, onshore vs. offshore operations, and the balance between long-term and short-term contracts. What are the trends that will shape the globalservicesmarket in 2025?
DALLAS, July 30, 2024 — Everest Group has released its in-depth report evaluating the nation’s potential as a location for offshoreglobalservices. For IT, BP and ER&D-focused ventures looking to expand their offshore locations for globalbusinessservices, the research found that Egypt proves a fertile ground.
As a result of these concerns, global leaders adopted a more cautious stance going into this year, according to Everest Group’s annual Key Issues survey of over 200 global leaders across industry enterprises, GlobalBusinessServices (GBS) centers , and providers. This has led to muted growth (0.5-2%)
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. Strategies to optimize near-term costs Inflation is putting cost takeout pressure on businesses worldwide.
While Shared Services and third-party ISVs were transforming the globalservices landscape, they also set the stage for a new player: offshore centers established directly by the organizations. The dynamic globalmarket and growth strategies targeting emerging markets have introduced new considerations for organizations.
In recent years, Global Capability Centers (GCCs) / Global In-house Centers (GICs) have experienced a remarkable surge in popularity amongst enterprises worldwide, with headlines frequently highlighting the establishment of new GCCs across various regions.
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. About Everest Group.
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.
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. Maintaining a positive brand image remains critical for attracting and retaining high-quality talent.
GCCs, which were previously known as Global In-house Centers (GICs) or Global Captive Centers, are a strategic initiative where companies set up dedicated units in a different location, often offshore from the headquarters location, to handle specific business functions.
New business functions in the organization will be incubated and scaled in India, making the country a sandbox of breakthrough innovations. GlobalBusinessServices (GBS) has been a major trend across large companies. The vision for 2030 is not only bold, but a definite possibility, if the GCCs play their cards right.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content