What Makes Costa Rica a Capability Centre Location of Choice for Global Corporations?
- In a world where companies seek to optimize their operations and advance their digital capabilities, Costa Rica stands as a beacon of opportunities in the region.
- The decision by TransUnion to establish one of its three Global Capability Centers (GCC) in this country is the result of a strategic assessment of its competitive advantages, especially its access to exceptional talent.
An abundance of highly-skilled talent
Since the GCC’s inauguration in 2022, TransUnion has found Costa Rica to be an environment that’s conducive for innovation and growth, with a strong foundation thanks to the country’s investment in public education, of approximately 8% of GDP. This has created a skilled workforce that excels in key areas such as data management, engineering, compliance, and product and software development.
Costa Rica ranks first in Latin America in graduate competencies and in the human capital index. Its multilingual capacity, with a high proficiency in both English and Spanish, facilitates operations in global markets, which is essential for companies like TransUnion that operate in over 30 countries.
According to the National Council of Rectors (Conare), the number of diplomas awarded in STEM (science, technology, engineering and mathematics) fields have increased from 4,542 in 2014 to 6,431 in 2022, with nearly 38% of graduates from the University of Costa Rica coming from these disciplines.
A strong infrastructure and other location advantages
The country’s solid infrastructure, along with its political and social stability, enhances its appeal as a destination for investment. TransUnion’s experience in Costa Rica not only benefits the company but also highlights the country’s potential as a strategic hub in the business realm.
With an ideal geographic position that allows convenient time zone coverage for the Americas and Europe, and a robust education framework that continues to produce highly qualified professionals, Costa Rica is well-positioned to support global businesses as they seek to maximize innovation, automation, global efficiencies, service, and sustainability.
Delivering high value outcomes and expanding capabilities
The evolution of TransUnion in the country has been remarkable and is testament to both a focused business strategy and the human capital Costa Rica has on offer – our people are our greatest asset. In less than two years, our TransUnion Costa Rica GCC has grown to nearly 700 associates, expanding its operations from customer support functions to more specialized capabilities, driven by an increase in local leadership roles. This development has enabled internal growth and increased the quality of service offered to millions of consumers around the world.
From Costa Rica, key functions such as payroll for more than 6,000 employees and the automation of processes in procurement and accounts payable have been centralized, improving operational efficiency. Our leaders in finance, shared services, and technology guide teams throughout the region, in turn also driving the professional development of our Latin American colleagues.
To learn more about the work we do in Costa Rica and how it benefits TransUnion, click here.