NewswireToday - /newswire/ -
Singapore, Singapore, 2008/06/05 - The global shared services and outsourcing (SSO) landscape is continuously evolving. From banking and insurance to healthcare and transportation, SSO has become an integral part of the business architecture.
In recent times, businesses have been steering towards vertical centres of excellence (VCE) instead of function-based offshoring.
Frost & Sullivan's exclusive executive MindXchange summit, the 2008 Global Shared Services and Offshoring Summit, which starts today, focuses on recent trends in the SSO market, key success factors and the benefits of shared services.
The Asia Pacific region has experienced unprecedented growth in SSO operations. Besides India, China and the Philippines, countries like Singapore and Malaysia have emerged strongly as key SSO hubs and tapped into the burgeoning global SSO market.
Ms. Tham Ai Chyn, Assistant Chief Executive of Industry & Cluster Development, at the Infocomm Development Authority of Singapore (IDA) says, "IDA is pleased to note that Singapore's shared services and outsourcing market has grown 9.14 percent from US$1.40 billion in 2006 to US$1.53 billion in 2007 across seven verticals including the technology sector.¹ Singapore is equipped with a robust infocomm infrastructure and excellent connectivity. Political stability, strong intellectual property protection, a pro-business environment are also some of the key advantages that make Singapore an ideal location as a trusted hub for IT-enabled shared services."
As the SSO industry matures, the need for innovation and outsourcers' ability to continuously exceed customers' expectations becomes evermore important. Amongst the strategies employed include developing and enhancing domain expertise around specific verticals. This will enable the service provider to customise and respond better to its customer, while harnessing its resources around the most important customer segments.
The future of SSO perhaps would belong to more than just India or China. "The ability of emerging hubs (like Singapore) that can carve a niche by offering a more complete ecosystem for offshoring requirements around specific verticals would provide compelling proposition as Vertical Centres of Excellence. The positioning would not only be dependent on economies of scale, but economies of skills," says Kam Soon Siew, Director of ICT Consulting at Frost & Sullivan.
The summit will highlight trends in vertical requirements for SSO globally; location selection based on vertical-based eco-system; critical business environment factors for SSO; outsourcing of customer care; leveraging technology for service delivery and much more.
Apart from an engaging MindXchange program, the delegates will be able to choose from two pre-organised site tours by Frost & Sullivan on day two of the summit. The site tours will be held at ST Electronics' e-Services centre which provides SSO services for the Ministry of Defence (MINDEF) of Singapore and Singapore Armed Forces (SAF) and Trusted Hub processing Ltd.
These site tours will offer a first-hand look at the workings and daily operations of established shared services centres, insights into the workings of global shared services operations, and an exclusive tour of home-grown shared services organisations in Singapore. Besides a combination of presentations and on-site facility tour, delegates will be able to meet with key department staff members as well.
The IDA is a strategic partner for the summit, while Business Today and ZDNet Asia are the official media partners.
For more information about the summit and 2009 registration, please visit
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.
Corporate Communications – Asia Pacific