SHARED SERVICE CENTERS
Colombia has a competitive industry in Shared Service Centers (SSCs), with experience in providing specialized solutions in human resources, finance, procurement, logistics, technology, general and administrative services, or digital transformation, ensuring high levels of efficiency and strategic support. The country is prepared to provide high added value to investors willing to work for social equity and the development of local human capital.
Investing in Colombia's Shared Services industry translates to enhanced productivity, stemming from a blend of its highly educated and multilingual workforce, competitive operational costs, and a favorable business environment. Colombia offers a strategic regional location, access to global markets, and a burgeoning technology and services ecosystem, presenting significant opportunities for operational efficiency and sustainable growth in this sector.
COLOMBIA HAS A PROMINENT SHARED SERVICES INDUSTRY IN THE REGION
The country is the fourth largest market in Latin America, concentrating 11% of the region's SSCs, with companies such as Amazon, SAP, 3M, and Bayer. Colombia ranks third in Latin America and is among the top 15 locations in A.T. Kearney's global services location index, highlighting its financial attractiveness and business environment.
COLOMBIA HAS CONSOLIDATED OPERATIONS OF SHARED SERVICES CENTERS
SSCs are advancing in terms of digitalization, value-added processes, and increased cost competitiveness. The financial industry (70%), supply chain, human resources, IT (36%), and help desk support (10%) are the industries that receive the most services. According to the EY Shared Service Center Industry Report, Latin America (70%) and North America (17%) are the main regions served. The country is expanding its reach, offering services in several languages, mainly Spanish, English, and Portuguese.
The portfolio is mainly composed of the following verticals: human resources, finance, procurement, logistics, technology, general and administrative services, and digital transformation.
COLOMBIA HAS HIGHLY QUALIFIED HUMAN TALENT FOR SHARED SERVICES OPERATIONS
- According to the IMD World Talent Report 2021, the country has the largest workforce in the region, surpassing countries like Peru, Mexico, and Brazil. Among the factors evaluated by IMD, Colombia is characterized by offering training alternatives to employees and facilitating learning schemes for their development.
- Colombia offers scalable operations, available in 6 metropolitan areas, each with more than one million inhabitants: Bogotá, Medellín, Cali, Barranquilla, Bucaramanga, and Cartagena, according to DANE figures.
- Cultural ties, such as language, make Colombia, with the third largest Spanish-speaking population in the world, an ideal market to centralize operations for the rest of Latin America. In addition, it has one of the most neutral accents for voice operations, according to the Economist Intelligence.
- Fedesarrollo estimates that 10% of the economically active population in the Colombian labor market is bilingual, mostly young people between 20 and 29 years old.
- According to the Hays Human Talent Survey 2021, remote work and flexible schedules are the most valued benefits for professionals in Colombia, so SSCs have desertion rates below 5%.
COLOMBIA OFFERS COMPETITIVE COSTS FOR SHARED SERVICES CENTERS
According to the Colliers office market report, as of the end of 2021, Colombia had 4,196,969 m² of competitive inventory located in urban centers such as Bogotá, Medellín, Barranquilla, and Cali, with an average rental price per square meter ranging from USD 12 to USD 16.
Colombia is the second country in the region with the lowest internet connectivity costs, with an average monthly cost for fixed broadband internet at USD 24.63, and it has the infrastructure to support world-class operations, with 11 telecommunications companies providing dedicated internet and IP telephony services.
The country is characterized by competitive salaries in the sector, ranging around USD 400 per month for call center advisors.
INVESTMENT OPPORTUNITIES IN THE SHARED SERVICES CENTERS SECTOR IN COLOMBIA
- Operations using the quality of local professionals.
- Setting up SSCs for finance, accounting, IT, purchasing, human resources, and value-added services, with operations in English and Spanish.
- Installation of SSCs specialized in telemarketing, collections, sales, customer service, and call centers.
- Installation of SSCs focused on back-office, financial and accounting service outsourcing, human resources, logistics services, and second-level help desk, to meet the business needs of the financial, logistics, or oil sectors, among others.
- Construction of centers for engineering, telemedicine, R&D, graphic design, and business analytics outsourcing services, high-value-added services demanded by different verticals. Installation of offshore platforms to serve external markets.
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