According to a recent study from PwC US and HfS Research, “The Evolution of Global Business Services: Enhancing the Benefits of Shared Services and Outsourcing”, 97 percent of the 347 respondents specified that they participate in outsourcing relationships, while nine out of ten use shared services.
The report also stated that 44 percent of establishments are planning to lessen reliance on in-house delivery processes by looking for other options like outsourcing (73 percent) and shared services (59 percent).
Dr. Charles Aird, US and Global Leader of PwC's Shared Services and Outsourcing Advisory Practice, said "Organizations need to focus on aligning corporate strategy, improving investment portfolio decisions and reallocating current spending. To do so, they are adopting global business service models."
Some of the crucial factors highlighted in the study are:
*Corporate, global, and enterprise strategies should coincide with each other.
*Strategies should be flexible enough to adapt to the trends and changes in the industry.
*Invest wisely and contemplate whether you need to focus on in-house innovation or innovation from service providers.
*Find a system that works well for urgent situations and problems.
* Create long-term goals.
* Team leaders/Management should be skilled in handling situations.
* Take down important notes about service providers for future references.
*Select leaders who can be role models and live out strategies by being good examples.
Dr. Aird said corporate strategies of organizations are different. Therefore, global business services cannot be considered “one-size-fits-all”. Also, different corporate strategies will lead to different strategies in terms of global business services.