China set to be No. 1 in shared services
By Wang Yanlin |
November 2, 2011, Wednesday
|
Print Edition
Print Edition
CHINA will eclipse India to become the world's biggest destination of shared services centers in a few years as it possesses competitive advantages, senior industry executives said at an annual KPMG summit in Shanghai yesterday.
"China is no longer a 'maybe' destination," said Egidio Zarrella, a partner of management consulting at KPMG. "Having an articulated China strategy is essential for an organization with global ambitions."
China's combined advantages of better infrastructure, more quality human resources and still competitive costs will help the country overtake India, the executives said at the annual KPMG China Shared Services Summit.
Setting up shared services centers, or SSCs, has become a global trend. It allows companies to focus on core business by spinning off corporate services, like accounting, IT, human resources, or purchasing, to a separate entity set up either by the company itself or by outsourcing.
India is currently the world's largest hub of shared services centers of multinational companies. But it will be replaced by China in a few years, Zarrella said.
Ning Wright, partner-in-charge of outsourcing and SSC advisory services at KPMG, said China should tap its infrastructure, technology and government incentives to attract more companies locate their SSCs in China.
"Lower costs, although diminishing, are still an advantage in China," Wright said. "But for global companies, they will care more about the quality and sustainability of the services they can find in a country."
"China is no longer a 'maybe' destination," said Egidio Zarrella, a partner of management consulting at KPMG. "Having an articulated China strategy is essential for an organization with global ambitions."
China's combined advantages of better infrastructure, more quality human resources and still competitive costs will help the country overtake India, the executives said at the annual KPMG China Shared Services Summit.
Setting up shared services centers, or SSCs, has become a global trend. It allows companies to focus on core business by spinning off corporate services, like accounting, IT, human resources, or purchasing, to a separate entity set up either by the company itself or by outsourcing.
India is currently the world's largest hub of shared services centers of multinational companies. But it will be replaced by China in a few years, Zarrella said.
Ning Wright, partner-in-charge of outsourcing and SSC advisory services at KPMG, said China should tap its infrastructure, technology and government incentives to attract more companies locate their SSCs in China.
"Lower costs, although diminishing, are still an advantage in China," Wright said. "But for global companies, they will care more about the quality and sustainability of the services they can find in a country."
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