Brexit's Impact on the European Shared Services Market

The key thing to note is that across Europe, until now, the UK has been the most popular location for setting up SSOs. Although no one is quite clear on the implications of the UK leaving the EU – indeed, this will depend on the agreements subsequently negotiated – the fact is that the business equation will change.Goods and “services” rendered across the EU – UK-based SSO's key customer base – will presumably no longer be subject to the privileges accorded EU member states. Those companies that may have been considering building or expanding SSOs/COEs across the UK may want to give serious reconsideration to looking at alternatives, either within other countries in the EMEA/EU region, or indeed looking towards other parts of the world. Ireland – currently the second most popular SSO location across Europe* – may emerge a winner.In addition, SSOs that may have been looking to sign a contract with either a UK based organization or vendor, or perhaps run pan-regional outsourcing with either a UK HQ company, or have the centralized contract managed and signed out of the UK, may equally want to consider if it makes more sense to contract it with another jurisdiction, from a commercial and contracting perspective.My take: Depending on the trade agreements hashed out between the UK and the EU [and right now the EU is not looking as if it’s going to offer a lot of leeway: “In is in and out is out”] we may see an eventual shift of SSOs out of the UK and into wither Ireland or Central and Eastern Europe, to take advantage of the rising skill sets offered by those markets, while remaining within the European time zone.What happens over the next few months should make the future clearer.

Brexit's Impact on the European Shared Services Market

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