KPMG in Ukraine in partnership with Cushman & Wakefield have finalised a report on the prospects of setting up share service centres in Ukraine.
Central and Eastern Europe has enjoyed dynamic growth and attracted a lot of attention from those seeking to set up share service centres (SSC).
Growing numbers of investors recognise the benefits provided by the western-style business culture on offer, while at the same time not being too far from their home headquarters. Eastern Europe is thus considered an optimal location for SSC primarily focused on the EMEA (Europe, Middle East and Africa) region.
Ukraine retains an excellent mix of highly educated young people at a lower cost than other European and Central European countries.
Already Ukraine has become a prime destination for IT sector outsourcing, as well as the place for many labour intensive operations such as wire harness assembly plants for the automotive industry. And despite political upheaval, many multinational companies maintain and have now even stepped up their presence in Ukraine (including operating SSC).
The goal of the report is to provide an overview of Ukraine as a potential location for a SSC or business process outsourcing (BPO) centre. In this report, the general information about Ukraine and its benefits for investors is provided. We hope it will assist investors who are considering potential locations for their SSC/BPO. We have provided the essential information for investors planning to set up an accounting or finance, internal audit, IT or R&D SSC.
For those already operating in Ukraine, this report should be helpful when it comes to evaluating the options for expanding operations. We have also covered the main information on legal matters relating to doing business in Ukraine.
Why Ukraine is attractive for investors
Full version of the report is available on the website https://home.kpmg.com/
“Ukraine has availability of highly qualified specialists with potential, possibilities of organization and realization tasks in share service centres. The country that has developed the world's largest fixed wing aircraft, the An-225 (Mriya), and which sends people into space, can definitely handle shared service operations and reduce operating costs on doing business by international companies”, - commented results of the report Roman Kutsak, senior manager at KPMG in Ukraine.
Marta Kostiuk, Head of Research and Development Consultancy of Cushman & Wakefield in Ukraine (formerly trading as DTZ), said: "The first share service centre in Ukraine was opened in June 2011 by Nestle in Lviv. That SSC, which combined activities in the field of finance and personnel management in one institution, became not only the first in Ukraine, but also in Central and Eastern Europe. Our company took part in the project as a consultant on commercial real estate.
We, as experts in real estate, supported KPMG in preparing a study that shows the advantages of Ukraine as an ideal platform for the creation of share service centres for global companies. The real estate market in most major cities of the country is ready to provide the necessary quality infrastructure on competitive terms".
Thousands of Ukrainians already work in share service centres across Europe. Opening of SSC in Ukraine is an opportunity for the country to retain valuable talent and to encourage those talented people that have left to return to Ukraine.
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