Asia Pacific Countries Lead the Pack in SSO Market: Singapore amongst Preferred Destinations.SINGAPORE -- The global shared services shared services, n.pl the administrative, clinical, or other service functions that are common to two or more hospitals or their health care facilities and used jointly or cooperatively by them. and outsourcing (SSO See single sign-on and CSO. SSO - single sign-on ) 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 VCE Victorian Certificate of Education (State of Victoria, Australia) VCE Virginia Cooperative Extension VCE Volvo Construction Equipment VCE Venice, Italy - Marco Polo (Airport Code) ) instead of function-based offshoring
Offshoring describes the relocation of business processes from one country to another. . 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 Cluster development (or cluster initiative) is the economic development of business clusters. The cluster concept has rapidly attracted attention from governments, consultants, and academics since it was first proposed in 1990 by Michael Porter. , at the Infocomm Development Authority of Singapore The Infocomm Development Authority of Singapore (Abbreviation: IDA; Chinese: 新加坡资讯通信发展管理局; Malay: Penguasa Pembangunan Infokom Singapura (IDA Ida (ē`dä), city (1990 pop. 91,859), Nagano prefecture, central Honshu, Japan, on the Tenryu River. It is an agricultural market and railway junction. ) 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 ev·er·more adv. 1. Forever; always. 2. In a future time. evermore Adverb all time to come Adv. 1. 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 (1) (Information and Communications Technology) An umbrella term for the information technology field. See IT. (2) (International Computers and Tabulators) See ICL. 1. (testing) ICT - In Circuit Test. 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 MINDEF Ministerie van Defensie (Dutch Ministry of Defence) MINDEF Ministry of Defence (Singapore) ) of Singapore and Singapore Armed Forces The Singapore Armed Forces (abbreviation: SAF, Malay: Angkatan Bersenjata Singapura, Simplified Chinese: 新加坡武装部队 (SAF SAF Safety SAF Society of American Foresters SAF Society of American Florists SAF Secretary of the Air Force SAF Second Amendment Foundation SAF Singapore Armed Forces SAF Students for Academic Freedom SAF Store And Forward ) 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 www.frost-gss.com 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. For more information about Frost & Sullivan's Growth Partnerships, visit http://www.frost.com 1 2007 Global Sourcing Study by Frost & Sullivan, commissioned by Infocomm Development Authority of Singapore (IDA) |
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