1. Centered on experience, not on functional boundaries
At the heart of successful GBS organizations are their customers and the service they receive. They need to maintain a customer focus throughout the lifecycle of shared service design, build, and operate by embedding the customer journey into core GBS activities such as continuous improvement and key performance outcomes.
Functional boundaries have long thwarted many efforts to improve productivity and drive benefits. Replacing the traditional model and aligning around experience – or user journeys – to deliver quantitative and qualitative outcomes will enhance and optimize performance.
For example, a global life sciences company shifted focus away from cost reduction to improved customer satisfaction – especially in placing and fulfilling orders for its products. Another global company reset its shared service center’s objectives toward being ‘easy to do business with.’
2. Digitally enabled
Our research shows that if companies have standardized, stable processes, intelligent automation can deliver a step change in efficiency and effectiveness. Robotic process automation (RPA) can automate routine, repetitive, and rule-based activities.
The next stage in the automation journey beyond RPA is intelligent automation, which includes technologies such as ML and dynamic workflow. Intelligent automation delivers exponential value by learning and adapting as it automates.
Successful future GBS organizations will develop an ecosystem of partners to ensure they keep ahead of the latest developments and have the range of tools required for automation.
3. Connected by analytics and insights
Tomorrow’s GBS leaders are creating dedicated analytics hubs within GBS to continuously mine and use the vast amounts of data flowing through typical operating functions, which creates sustainable augmented intelligence for GBS.
By aligning across the process operating towers, GBS can continuously innovate around the specific needs of each unique operating ecosystem and improve time to market by deploying agile analytics development processes. GBS will leverage prescriptive and predictive analytics, AI, and cognitive computing to interpret omnistructured data and help drive better, faster decisions.
4. Agile to support evolving business strategy
Flexible plug-and-play GBS models help their businesses grow organically and through acquisitions. They either need full integration in the case of carve-outs or partial integration in the case of stand-alone businesses.
GBS models will continue to consistently expand in scope and scale into higher-value areas such as financial planning and analysis, compliance, and integrated operations across finance, sales, IT, HR, and more.
For example, one of the world’s largest financial institutions turned to Genpact for help streamlining its compliance efforts and developing smarter overall operations. The business impact to date has been more than $500 million.
The bank has cut its exposure to Regulation E infractions, but more importantly, it has created faster and more efficient onboarding and fund-disbursement processes. These large-scale reengineering and automation initiatives are delighting customers through exceptional experiences.