FUNCTIONAL SERVICE PROVIDERS (FSP) MARKET ANALYSIS

Market Concentration and Competitive Landscape

Close-monitor your Competitor's Move, Request sample copy

Another key driver has been the increasing focus across all businesses to shed non-core activities and concentrate organizational resources entirely on core competencies that delivers greatest competitive advantage. In the cut-throat business environment, focus on strengthening core offerings, refining business processes, reducing operational costs, and improving overall efficiency has become imperative for growth and survival. However, non-core or support functions like finance, accounting, procurement, etc. still need to be handled efficiently even as top management directs attention to key growth areas. This is driving greater openness to outsourcing such shared services to capable and specialized third-party FSPs. Businesses engaging FSPs are able to drastically streamline processes, leverage technological innovations and process expertise to handle functions at much larger scales. Advanced analytics, automation, and standardized KPI-driven processes adopted by FSPs ensure higher consistency, control and compliance. This allows internal teams to contribute more value adding tasks while gaining access to global best practices.