The report forecast the global shared services market to grow at a CAGR of 14.06% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A key trend influencing market growth is the rising adoption of integrated and multi-function shared services. Organizations are implementing integrated shared services that are delivered over a single platform. Global shared services delivery systems require end-to-end and integrated solutions for process automation and standardization of transactional processes. Single platforms in SSCs are required for the standardization and execution of multiple processes. Processes (such as procure-to-pay and accounting) are managed efficiently through integrated shared services.
According to the report, a key growth driver is the need for process automation. Process automation is an important component of business transformation at a functional level. Process automation in organizations reduces manual work and increases process efficiencies. Automated processes reduce redundancy and errors in the transactional processes. Process automation shared services help to reduce manual steps in the finance, HR, and supply chain processes through data accuracy and consistency.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?