Croatian business process outsourcing services provider Meritus Ulaganja (M+ Group) said that its Meritus Upravljanje unit plans to establish a 51/49 joint venture company with U.K.-based Concentric Technologies in a transaction valued at EUR 8 million (USD 9 million).The new company will be established in Croatia. For the purpose, Meritus Upravljanje and Concentric Technologies have signed an investment agreement and an agreement on the regulation of relations of the shareholders.
Under the agreement, each party will allocate its IT business to the capital reserves of the new JV company. The completion of the transaction is pending the required legal and shareholder approvals. Concentric is a leading customer interaction software solutions provider, present in the United Kingdom, Hungary, Romania and the United States. M+ Group currently provides services to more than 220 clients from 58 countries Romanian unicorn UiPath prepares for listing
10/10/2020
UiPath, the first unicorn set up by Romanian entrepreneurs, is looking to hire investment banks that will manage the company's listing, scheduled for 2021, according to Reuters.
Launched in 2015, UiPath has become the Enterprise Robotic Process Automation (RPA) platform with the highest adoption rate. The startup develops and sells RPA technology, the software robots created by the company being programmed to take over the "copy-paste" type work previously performed by human employees. The initial public offering (IPO) could value the company at USD 15 billion, sources said. This summer, the company was valued at just over USD 10 bln following the latest funding round. In July, Daniel Dines, the company's CEO and co-founder, officially announced that UiPath was preparing an initial public offering for 2021. In 2018, UiPath became the first "unicorn" set up by Romanian entrepreneurs, after the company was valued at over USD 1 bln in a Series B financing round, attended by Accel, CapitalG (Alphabet's investment division, the parent company of Google) and Kleiner Perkins Caufield & Byers. This summer, UiPath was valued at USD 10.2 bln in a new investment round of USD 225 mln. The average net salary of private-sector employees in Romania is EUR 93 (12%) lower than in Hungary and EUR 263 (28%) lower than in Poland, according to Profit.ro quoting data provided by tax, audit, and payroll consultancy firm Mazars.
Compared to Slovenia, the private-sector wages in Romania are just above half. Private-sector employees in Romania also earn three times less than those in Germany and Austria, two of the EU's best-performing economies.Poland, the most robust economy in the region, has distanced itself from Romania and is approaching the threshold of EUR 1,000. With lower labor taxation, Bulgaria has an average net private salary of EUR 81 lower than in Romania. In Central and Eastern Europe (CEE), higher wages are concentrated in EU member states, as membership of the single market generates prosperity but puts pressure on wage costs and labor migration to higher-wage countries. Among the non-EU states, Russia is best placed, with an average net private salary of EUR 553. Following on from the 2 successful niche events in late September in Wroclaw and Warsaw, EBSA is organizing the next events on 14th and 15th October in Krakow and Gdansk, respectively. These are niche events, limited to just 19 SSC Directors in each city. Large, open venues have been chosen to adhere to strict safety guidelines, with Gdansk's Olivia Star hosting the Thursday event and Krakow's Hotel Stary the Wednesday evening event. Top Polish wines, from the Adoria vineyards in southwest Poland, will be featured. ASPIRE is supporting the Krakow event, and the Gdansk event will host top management from Invest in Pomerania. While space is strictly limited, SSC Directors from those cities can get on the Invitation list by emailing tb@biznespolska.pl.
As operators strive to streamline costs and operations, business process outsourcing (BPO) proves effective in meeting these demands. BPO is when one company hires another company to perform some of its essential work processes.
BPO processes typically fall into two major areas — back office and front office processes. Back office processes are the company’s internal operating processes, such as HR, IT and accounting. Front office processes pertain to any situation where the company interacts directly with the customer. Examples include customer support, telemarketing and marketing. When faced with economic challenges, many companies scrutinize internal processes and operations to identify any opportunities for cost control or increased operational efficiency. Changes to staffing needs are a side effect of a market downturn. Operators of all sizes outsource both back- and front-office functions. BPO can be especially beneficial to smaller oil and gas operators or private equity-backed operators, like Camino Natural Resources LLC (read case study), that need to run lean operations or do not have the resources to build the staff needed to perform processes in-house. Larger operators might decide to outsource a process that was traditionally done in-house after realizing the service provider can perform the job more efficiently at a lower cost. A recent article by Ernst and Young highlights how the benefits of outsourcing are even more magnified during market downturns when companies offload non-core functions to focus on strategy and survival. Below are five benefits operators can expect from outsourcing business processes: 1. Cost savingsMany oil and gas companies choose to outsource certain processes because the service provider can perform the work more cost effectively than the operator can in-house. For example, Enverus estimates it costs an operator an average of $3-$5 per JIB mailing in-house, compared to $1.87 with Enverus Print & Mail services. For smaller-sized companies, outsourcing revenue check mailing eliminates the need to purchase and maintain expensive printing equipment along with other overhead expenses. Southwestern Energy reduced its internal support costs by half with Enverus Call Center Services. 2. Increased efficiency and staff productivityOutsourcing non-core processes, like answering landowner inquiries or processing massive amounts of revenue detail, allow organizations to use their highly-skilled knowledge employees like accountants, division order analysts and land teams to focus on core areas of the business. While monthly check runs are essential to upstream operations, accountants were hired to perform financial reporting and analysis, not stuff and mail envelopes each month. Utah Gas Company’s accounting team gained the equivalent of 24 working days back per year for each of its three team members by outsourcing their print and mail to Enverus. Another operator, Montage Resources Inc., increased its internal efficiency post-merger by outsourcing its print and mail and owner support to Enverus Call Center services. 3. ScalabilityBusiness processes might have seasonal fluctuations. For example, accounting teams must prepare for tax season each year. Depending on the provider, BPO can provide an easy way to scale owner support up or down, avoiding the need to hire additional in-house staff with the right knowledge. Merger and acquisitions are also common in oil and gas. When an operator’s owner count grows literally overnight, the ability to scale support to meet the needs of additional owners is essential. 4. Access to specific expertise and resourcesIf you choose the right provider, BPO eliminates the need for hiring certain skill sets in-house and provides access to industry experts. With the many nuances specific to oil and gas accounting processes, oil and gas companies would experience more benefits by choosing a service provider that has expertise in the industry. For example, Enverus Owner Relations Services are designed for oil and gas. Our team has years of experience handling revenue data, printing monthly revenue checks and statements, and providing dedicated call support for operators. Also, because we are focused on oil and gas, we can provide additional benefits that other types of providers can’t match. Enverus Print & Mail services are SOC 2, Type II compliant and work with an operator’s bank to administer MICR testing. 5. Maintain business continuityOutsourcing certain processes can ensure those tasks continue, regardless of the circumstances at your office or situations that might occur with team members. For example, Enverus mail house processes are automated, ensuring your files are routed for printing without the need for direct intervention. Enverus also maintains active relationships with multiple print vendors, in multiple geographies, so there are ready alternatives should any of our primary print vendors go offline. One operator said outsourcing their print and mail made it easier to switch to a virtual working environment when the pandemic arrived. ConclusionWhile BPO provides many compelling benefits for oil and gas operators, it is not a decision to be made lightly. After your company does the work of deciding if it makes sense to outsource, you must choose which service provider to hire. You should analyze vendors based on how it would affect your internal staff, processes and workflows. Some vendors may require more implementation time than others. You should also check for any hidden costs or fees with these services. Enverus Owner Relations Services are designed for oil and gas. Our team has years of experience handling revenue data, printing monthly revenue checks and statements, and providing dedicated call support for operators. Source: https://www.enverus.com/blog/surviving-the-oil-downturn-by-outsourcing-business-processes/ (September 2020).
The office of Norwegian Air Resources Latvia will operate the airline worldwide, abandoning several outsourcing activities. Norwegian has already announced the first job vacancies in the new office. Recruitment will continue this year as well as next year. The total number of employees needed will depend on the situation in the sector. Economics Minister Janis Vitenbergs (KPV LV) said that “business service centers are one of our investment priorities, because the sector has great growth potential (..) Latvia is able to offer well-educated employees with good language knowledge, so companies also choose to open their business services centers in Latvia and are very happy with the results. This choice of Norwegian gives us an additional incentive to continue our work on improving the business environment and creating new jobs in Latvia,” the Minister said. Norwegian Air Resources Latvia has started to address potential staff who will continue to provide customer service support functions. Norwegian aims to gradually increase the number of workers in line with market demand. Norwegian was founded in 1993 but began operating as a low-cost carrier with bigger Boeing 737 aircraft in 2002. Norwegian expanded across the globe as the airline launched short-haul services across Europe and then entered the long-haul sector serving the US, Asia and South America. Intrado Digital Media, the world’s leading end-to-end communications solution provider, has operations stretching across the globe. The company provides technology for clients to run town halls, marketing webinars, investor days and large-scale virtual conferences to build brand awareness, drive sales and engage key audiences.
With the COVID-19 pandemic dramatically changing the way the world conducts business, the shift from in-person to online has further strenghtened Intrado‘s position as the leading virtual event and enterprise streaming provider. The increased demand for live production of virtual events and webcasts has led Intrado to expand its operations in Lithuania, adding a virtual event management team to provide an end-to-end customer experience for global clients. Intrado first tapped into the Lithuanian market in January 2018 when it acquired Nasdaq’s Public Relations Solutions and Digital Media Services division. This included 30 of Nasdaq’s former employees who were based in Lithuania. With Intrado’s decision to further expand within the country, Lithuania is uniquely positioned as a service hub for the EMEA region with staff supporting Intrado’s entire product portfolio. The commitment shown by Intrado reflects the quality of the talent found here. Headcount has doubled since the start of the company’s operations within Lithuania, highlighting Intrado’s commitment to growing its presence in Vilnius. Yara chooses Vilnius as a BI hub
10/10/2020
Internal demand for business intelligence (BI) to analyze the data we collect is increasing at such a pace that Yara is fast-tracking the growth of its global BI team – in Vilnius.
People all over Yara are waking up to the value of data analytics provided by self-service BI platforms and tools such as Power BI, Alteryx, etc. The aim is to give Yara’s BI users more responsibility for their data and the freedom to gather insight faster. With the help of self-service BI tools, business users are able to develop reports and dashboards without having in-depth technical BI knowledge. They’re able to prepare and visualize data when and how they need it , thus reducing dependency on the BI team. Sajid Rafiq, who heads up Yara’s Business Intelligence Competence Center (BICC) in Oslo, says he has hired four resources in the Lithuanian capital so far this year. The first two were hired as part of the establishment of a support team in Vilnius and their progress was so rapid that a decision was made to build a development team also in the Lithuanian capital. These two hires will work more closely with business stakeholders and help develop solutions for Yara globally. Now the process has started to recruit an additional four resources in Vilnius to increase Power BI capacity and strengthen the support team. New recruits are based at Yara’s European Business Service Center (Yara EBS) in Vilnius, established last year to support European sales organizations. “The EBS offices are bright, modern and technologically state-of-the-art,” says EBS VP, Beda Merkelbach. “The average age of Yara employees at the center is early thirties, and the atmosphere in the office buzzes with energy.” “It’s a dynamic, attractive working environment,” says Sajid. “I believe this is one of the reasons we have been able to engage the right candidates.” In addition, Sajid says the hiring process has been made easier by access to talent in the Lithuanian capital. “Location is not a problem for our stakeholders as long as we deliver a good user experience. Most people are very comfortable with remote support nowadays.” Sajid will hire university graduates with an IT background. In addition to technical skills, they will need excellent communication skills in English and be ready to work flexible hours. “Attitude is important,” adds Sajid. “These are people who need to understand our business quickly and be eager to support Yara stakeholders all over the globe in a variety of roles. It’s a demanding role, but an exciting one, in the very best environment.” TMF to open major SSC in Katowice
10/10/2020
TMF Group will open a new TMF Group European Centre in Katowice, with plans to hire 300 people.
Recruitment has just started. The TMF Group's Polish branch with offices in Warsaw and Katowice currently employs nearly 500 people and is one of TMF Group's largest branches in EMEA region. "TMF Group operates in 80 locations worldwide, with Poland of particular strategic importance. The Polish branch is one of the largest in the company's structures, and the local specialists are extremely valuable in our global structures," says Juraj Gerzeni, TMF Group's director for EMEA, covering Europe, the Middle East and Africa, "This recognition will be reflected in the responsibilities of the specialists at the Katowice Centre, who will work directly with representatives of the world's largest companies", adds Juraj Gerzeni. Unlike the shared service centres, the employees of the European TMF Group Centre will not provide services within the organisation, but will be directly responsible for advising the company's clients in the areas of Human Resources and Payroll, Tax and Accounting and Corporate Secretariat. These are globally recognised brands. TMF Group's services are used by more than 60% of Fortune Global 500 and FTSE 100 companies and nearly half of the 300 largest private equity firms in the world. "Katowice is a unique place on the investment map of Central and Eastern Europe, which is confirmed by many investors who first decide to locate their centres in our city and then expand the scope of their operations within. Such action arises from our competitive advantages over other business locations: access to well-educated employees, perfect location and quality of life which is exceptional, even on a national scale. We are extremely pleased with the dynamic development and business performance of the Katowice branch of TMF Group. We believe that locally employed specialists will secure the continuation of further effective growth of the Centre", says Marcin Krupa, Mayor of Katowice. TMF Group has just started recruitment, looking for experts fluent in English, German or French. They will work for clients from England, Ireland, Norway, Sweden, Denmark, Finland, Iceland, France, Italy, Belgium, Germany, Austria, Switzerland, the Netherlands, Luxembourg and Channel Islands (Guernsey and Jersey). "We start the recruitment from experienced specialists, who will later employ less experienced but exceptionally talented and willing to learn colleagues for their departments", says Joanna Romańczuk, Managing Director of the Polish and Ukrainian branches of TMF Group. Each of the Centre's employees will be able to join the internal TMF Business Academy, where the most experienced experts lecture. |
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