The Shared Services Market is showing continued, profitable growth. According to a recent analysis carried out by technavio, a renowned worldwide operating market research company, this section indicates a high growth potential of USD 152.38 billion during 2020-2024.
Between 2019 and 2020 alone, the accelerating momentum will exceed 15 per cent and 17 per cent by 2024. The demand for automated business processes is emerging as the dominating growth generator for Shared Service Centers’ larger market shares and sales.
Correlation between operational efficiency and degree of automation
According to technavio’s analysis it is particularly striking that companies that have already implemented shared services show a high correlation between process automation and operational efficiency.
This is especially true as Shared Services
- increase the degree of automation of business processes
- reduce redundancies
- significantly lower the error ratio.
From this correlation arises an additional win-win situation: the more the demand for business process automation and optimization increases the stronger is the growth of the Shared Services Market and the greater are the possibilities of deploying Artificial Intelligence.
Artificial Intelligence creates efficiency in HR Shared Service Centers
The increased use of our AI-Agents in HR Shared Service Centers of globally operating companies underlines the strong relationship between business process optimization thanks to business process automation on the one hand and operational efficiency on the other hand.
Based on Artificial Intelligence (AI) our AI-Agents can handle all issues that are normally processed by employees of flesh and blood – but more quickly, more efficient and cost-effective and saving up to 30 per cent to comparable personnel costs.
Decentralised and at the same time fully integrated
Our AI-Agents act fully decentralised and are at the same time fully integrated into all relevant personnel-management processes. Their areas of application are as diverse as they are situationally scaleable at any time. Our AI-Agents are 24/7 available – no time off, breaks or downtimes.
AI-Agents are HR all-rounders
Our AI-Agents can seamlessly be integrated into human resources management processes within a few days. No need for additional programming or the costly development of elaborate interfaces.
AI-Agents can take up more than 80% of tasks which would otherwise be outsourced to external service providers and can basically use all software products at the same level and to the same extent as human personnel can.
New ways of value creation
The use of pioneering Artificial Intelligence in HR Shared Service Centers turns manual and analogue processes into dynamic automatic and digital procedures and routines.
This accelerates the course of business and leads to higher efficiency as formally trapped resources are freed up. While our AI-Agents take over time-consuming, monotonous and repetitive tasks human HR professionals can move on to more challenging and strategic responsibilities like human resources development.
In a word: Our AI-Agents make a valuable contribution to quantitatively and qualitatively measurable competitive advantages what makes the decisive difference when it comes to succeed in the often-quoted war of talents.