Shared services centres (SSCs) are on a clear expansion path in Ireland and are set to create more jobs, according to a survey that was carried out jointly by PwC and the ACCA (the Association of Chartered Certified Accountants).
However, there is room for improvement in how they operate and also in their use of technology.
The findings highlighted that SSCs are becoming more popular in Ireland as multiple delivery centres, particularly for multinational companies looking to centralise not only cross-border functions such as accounting and HR, but also areas such as treasury, payroll, supply chain management, procurement and tax.
“With a highly talented workforce and competitive tax regime, the survey highlights that Ireland has a huge opportunity to further develop its offering as a centre of excellence for shared services centres,” said Alisa Hayden, partner, PwC.
“The key to success for these centres within their organisation is that they are innovative knowledge centres, delivering high value add, are competitive and have the ability to standardise and centralise processes while being flexible and adaptable. Continued investment in talent management will be critical for Ireland to secure our SSC growth potential.”
Key survey findings included: nearly half (47.5pc) reported that their organisation is planning to expand their SSC activity in Ireland; a further 30pc plan such expansion over the next two to five years; nearly two-thirds (64pc) plan to increase their SSC headcount in Ireland, of which over a third (39pc) plan to increase this headcount by more than 5pc; and half of the participants reported room for improvement regarding the measurement of the performance of their SSC.