In a world marked by globalization, new countries and cities are regularly developing the maturity necessary to be seriously considered as a service delivery location.  A balance is needed between the critical mass necessary to obtain economies of scale and the opportunity to move processes and activities globally to refine the global delivery model and leverage lower labor rates.  Additionally, it can make sense to grow the support processes in geographies that require additional support, such as an expansion of operations in Asia or Latin America.

In Asia, China is well established as a logical place to locate support centers.  Shanghai, Shenzhen, Dalian and Beijing are well know sourcing centers; however, due to rising wages, companies are looking to 2nd tier cities to locate manufacturing facilities and related support facilities.  The Philippines is a good choice when English speaking skills are required.  Even Vietnam is working to become a destination of choice for offshore work, although now it's mostly known for its IT capabilities.  And of course, India has multiple established cities for shared services, although, as with China, companies are considering 2nd tier cities there also.

In EMEA, companies have located in Budapest, Prague and Krakow, although there are a number of choices.  Companies looking for a labor cost advantage but who either desire or require a "near shore" facility like Eastern Europe for it's skilled workforce, good infrastructure and relatively low cost.

In Latin America, Costa Rica has long been a favorite for North American companies due to the time zone proximity (Central U.S. time zone during Standard time and Mountain U.S. time zone during Daylight Savings), reasonable English language skills and a stable political environment.  Brazil, as a dominant economic force in Latin America, is also the choice of many companies, particularly Sao Paulo and Rio de Janeiro.

And don't forget rural sourcing.  Even in high cost countries like the U.S. there are companies experimenting with rural locations as a way of retaining work onshore yet achieving cost reductions.  The point of all this is that, to put it mildly, globalization is creating the opportunities to develop a global Finance organization using a variety of tools.  This includes creating a delivery model that takes advantage of developing talent markets.  World-class Finance organizations incorporate this thinking into their existing and future plans to deliver Finance services to their companies.