- The key vendors in the General and Administration Outsourcing in Latin America 2014-2018 are Accenture plc, Capgemini SA, IBM Corp. and Tata Consultancy Services Ltd. (TCS).
London, 09 September 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the General and Administration Outsourcing in Latin America 2014-2018. Adoption of payroll outsourcing services is one of the major trends in the General and Administration Outsourcing market in Latin America. Demand for global projects is largely from multinational organizations originating in the US or the UK. The General and Administration Outsourcing market in Latin America is expected to grow at a CAGR of 14.21 percent during the forecast period of 2013-2018.
The General and Administration Outsourcing market is a part of the BPO market. General and administrative outsourcing is defined as the process to outsource a set of activities such as finance and accounting outsourcing, human resource outsourcing, and procurement outsourcing services to manage general and administrative expenses. The value proposition in Latin America is not only driven by cost arbitrage but also by the development in strong business values and strategic impact. In addition, Latin America offers significant opportunity for value creation because of its rapid growth and potential service providers.
“A number of MNCs are outsourcing their payroll functions to external general and administration outsourcing providers,” says Faisal Ghaus, Vice President of TechNavio Research.
“Cost reduction, risk management, improved management control, compliance, and business expansion are some of the important factors driving companies to outsource payroll functions in Latin America.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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