Moving into Latin America: Aligning Location Selection with Business Need
Written by Atul Vashistha
In a recent webinar, hosted by Nearshore Executive Alliance and Supply Wisdom, a panel of buy-side executives from Citi, Interpublic Group and Re:Source discussed the key considerations and criteria that led them to enter Latin America. In their experience, when evaluating possible locations and suppliers anywhere in the world, it’s helpful to consider both demand and supply factors.
- Develop clear objectives that align with your corporate strategy
- Understand your scale and skill requirements (now and in the future)
- Define your risk tolerance (what risks matter to you, what tradeoff are you willing and able to accept in return for opportunities)
- Understand what to source and what to retain (which capabilities are you looking to enhance)
- Consider a portfolio approach – balance your global portfolio across different regions
- Understand country-specific opportunities & challenges – Business climate and laws, labor costs, working hours, visa requirements, English proficiency, services maturity, infrastructure, operating costs, and so many more factors vary from country to country, and even city to city. Having a clear understanding of each country is critical.
- Comparative Value – Weighing the unique characteristics of each country against each other and your own internal requirements will give you a sense of comparative value.
- Total ROI – Leverage comprehensive and objective data and analytics to achieve a clear understanding of total ROI.
Is your company looking to get a piece of the LatAm pie? Access the webinar recording for helpful tips and insights on Navigating the Latin America Global Services Market: How to Choose the Right Sourcing Location.