Opportunities in the new normal for Shared Services located in Spain

The lockdown as a consequence of COVID-19 has meant a temporary change in corporate priorities, but it has also reinforced, or even accelerated, some trends that were already materializing.

During the response phase, where managing continuity was of highest importance, organizations have focused on the management of liquidity, working from home and digital enablement. Beyond these three priorities, overseeing labor measures and seeking to make operations more flexible have been very relevant. 

Under these circumstances the delivery centers in Spain have shown a great response capacity. This has been thanks to the following reasons:

• Good level of communication infrastructure available in Spain.
• Widely used high-speed home internet connections.
• Existence of pre-COVID business continuity plans.
• The active role and swift reaction of IT departments.
• Availability of laptops. 

Nearshore centers, which include Global Business Services, Shared Service Centers, Regional Headquarters, Centers of Excellence, Delivery Centers, etc., are normally located where the following prevail: access to qualified talent, competitive costs, quality of life, closeness to key European markets, coincident time zone with EMEA and good connections for continental and intercontinental flights. Spain has long been a perfect example in this nearshore category. 

Spain has a great opportunity as the optimal location for highly-specialized services focused on value-added activities where enhancing corporate culture and the ability to transform operations will be key. Additionally, the current
situation has meant that all business functions have been interacting remotely for months. This could be a catalyst for post-COVID opportunities to manage new services that until now had not been even considered.

In the short-term, it will be essential to promote agility, flexibility (including
moving from fixed costs to variable cost structures), innovation, collaboration
(internal and with third parties) and automation.

There are many opportunities ahead.