Visionary global business services (GBS) organizations are evolving beyond the transactional back-offices. They are becoming strategic business partners of every enterprise. In fact, GBS organizations are now at the forefront of the iEnterprise transformation with their desire to design and deliver integrated operations and continuously generate business insights and innovations for superior customer experiences.
The GBS operating model has come a long way in a relatively short period. It started as a single-function shared service center, serving a country with a singular mandate of cost reduction in the 1980s. Now, it has become a norm for GBS organizations to provide cross-functional services globally. While cost continues to remain a top priority, business outcomes and agility have also gained utmost importance.
With the digital economy challenging enterprises to reinvent their business models, innovative organizations are propelling GBS to the next level — the forefront of iEnterprise transformation. They collaborate with internal and external partners to build integrated operations, generate real-time operational insights, and incubate innovation at scale.
This is a natural step in the GBS evolution accelerated by the dynamics of digitization. Firstly, digital pioneers have raised customers’ expectations. Customers now demand a seamless, omnichannel, real-time, always-on, and self-service experience. Any gaps or inefficiencies in multichannel sales and marketing, order management, logistics, or customer support can dilute the customer experience. Global business services act as the transaction backbone for all those processes along the value chain. Therefore, the GBS organizations must take ownership in reimagining integrated end-to-end operations with customer experience as the guiding principle.
The mass digitization of the economy has yielded a tremendous amount of data. Leading GBS organizations have already tapped into the digitized transaction data to generate business insights. One good example is leveraging line-item-level invoice detailing to understand customer behavior, identify potential upsell and cross-sell opportunities, and improve customer experiences. Now, imagine the range of insights that can be derived if third-party data is included. Such insights can be built into the business logic to enable process automation and real-time operational decision making.
Similarly, rapid advances in technologies such as automation, analytics, and AI have set companies on the course of re-evaluating their ecosystems for innovation. Through relatively mature technologies like Robotic Process Automation (RPA), GBS organizations have demonstrated their ability to scale and meet the business use case. They are also able to reduce the deployment cycle by leveraging learnings across different services. Mature GBS organizations have built an ecosystem of partners to leverage their scale and know-how to continuously identify use cases in leading-edge technologies.
The visionary GBS organizations are leading the charge in enterprise digitization. In the process, they are becoming strategic business partners of the enterprise through their unwavering focus on cost, insight, and agility.
As the digital economy and COVID-19 crisis force enterprises to re-invent their business models, visionary GBS organizations are propelling the iEnterprise transformation.
As the digital economy and COVID-19 challenge enterprises to re-invent their business models, visionary organizations are propelling GBS to the next level — the forefront of iEnterprise transformation.
The following are the highlights of HCLTech’s experience in partnering with our clients to deliver GBS transformation:
- Sales and marketing – Increase digital audience reach
- Customer care – Reimagine technical support and improve customer experiences
- Supply chain management – Strengthen supply chain resilience
- HR operations – Digitization of employee services
- Finance and accounting – Digitalize the future of finance
- Mortgage fulfilment – Innovate to meet record demand remotely
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