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As India’s prominence in GlobalBusinessService (GBS) grows, staying updated on tax laws and adapting agile strategies is essential for multinational corporations to achieve sustainable growth amid evolving globalbusiness dynamics.
EVENT Finance Shared Services to GlobalBusinessServices: A Journey Worth Taking? Roundtable Wednesday, March 1, 2023 The ACCA (Association of Chartered Certified Accountants) report released in September 2022, Finance Shared Services to GlobalBusinessServices: A Journey Worth Taking?
Everest Group projects that the finance and accounting outsourcing (FAO) market will grow significantly (up to 10% year-on-year) in 2022, because enterprises are demonstrating an openness toward expanding their scope of services with third-party service providers.
INVITE ONLY POSITIONING GCCs FOR SUCCESS: DRIVE SUPERIOR VALUE AND ADVANCE BUSINESS IMPACT September 29, 2023 | 10:00 AM IST - 12:30 PM IST Global Capability Centers (GCCs) / GlobalBusinessServices (GBS) organizations are now key strategic partners for enterprises, driving business impact beyond cost savings and operational improvement.
For those who have not read my previous post, “Moving from Shared Services to GlobalBusinessServices,” let me provide a quick summary. Shared Services (SS) is an operating model that has been around for decades. “End to End” process accountability is key. HR, IT, Finance, etc.)
DALLAS, July 30, 2024 — Everest Group has released its in-depth report evaluating the nation’s potential as a location for offshore globalservices. For IT, BP and ER&D-focused ventures looking to expand their offshore locations for globalbusinessservices, the research found that Egypt proves a fertile ground.
The dynamic global market and growth strategies targeting emerging markets have introduced new considerations for organizations. This evolving landscape prompts a re-evaluation of how services can be optimally delivered. This is where the choice between Shared Services and GlobalBusinessServices (GBS) becomes critical.
Welcome to my third article in a series focused on insights, experience and practical advice on an operating model called GlobalBusinessServices (GBS). The GBS operating model is the latest step in the evolution of shared services (SS). to be leveraged across an entire organization, resulting in lower service costs.
Market volatility, uncertainty, complexity, and ambiguity are some of the factors forcing SSCs to pivot their business models to buffer them from future shocks. With 440+ Finance Shared Services COEs employing over 700,000 people across multiple Tier 1 and 2 cities, India is a gold mine for global organizations.
Macroeconomic changes, talent shortages, and evolving trends, including technological advancements, have businesses increasingly relying on outsourcing as a strategy. These tools encompass a wide range of technologies requiring deep expertise in areas where your business is unlikely to have the team to accomplish this.
Case #1: Assisted a top 10 service provider in identification of GlobalBusinessService / captive targets for acquisition/carve-outs. The client was successful in initiating multiple conversations with target accounts based on the insights provided through the study.
This year’s event was held from March 23 rd to 26 th under the theme of “Leading Shared Services into the Future”. The week featured prize-winning speakers and GlobalBusinessServices giants. Premier BPO was a sponsor at the event and showcased at booth #108.
Combined with the assisted model, these two approaches account for over 90% of GCC setups supported by providers. Multiple providers have created dedicated business units focused solely on the GCC market, employing specialized sales teams aligned with GCC accounts.
With their growing maturity, GlobalBusinessServices (GBS) organizations in Banking and Financial Services (BFS) have taken on critical roles in the data value chain. For example, a leading US bank GBS hosts a Finance and Accounts (F&A) Data Management team that supports finance business users’ data needs.
million Full-time Equivalents (FTEs) in globalservices delivery, accounting for 15-18% of the total globalservices workforce worldwide. Reassess your GlobalBusinessServices (GBS)/shared services and vendor portfolio to ensure enough overlap and redundancy across both operational and management processes.
What accounts for this acceleration in companies building their own capability rather than taking advantage of a third-party service provider’s capability? There are hundreds of new startups, and existing captives are significantly expanding their capabilities. Read more in my blog on Forbes
Key Issues Study Launch – In September 2021, The Hackett Group launched its 2022 Key Issues campaigns covering six functional areas: Finance, Procurement, Supply Chain, Human Resources, Information Technology, and GlobalBusinessServices. Results from the studies will be released in January 2022.
The Golden Path How Indian Finance COEs are Transforming GlobalBusinessServices Click here to Download However, COEs mean different things to different organizations per their business needs.
Setting up Global Capability Centers (GCCs): The Go-to De-risking Strategy for Businesses GCCs can handle a wide range of functions, including IT Services, Finance & Accounting, Human Resources, Research & Development, Customer Support, and more.
For example, Kofax has a deep focus on AP (Accounts Payable) Automation and has already invested in 3 acquisitions for building depth in the use case. However, given the fast-growing opportunity in APAC which is expected to account for 25% of the global market size in the next 5 years, leading platforms are doubling down in these markets.
In April 2021, Celonis partnered with IBM’s GlobalBusinessServices consulting arm to weave the Celonis Execution Management System (EMS) into its offering, adding the ability to analyze data thrown off by processes like Supply Chain Management, Finance, or Procurement to identify weaknesses and recommend fixes.
(NASDAQ: HCKT) today announced the winners of its 2021 Digital Awards, which spotlight companies that are on the cutting edge of using digital transformation solutions, including automation, advanced analytics, and AI to hyper-automate end-to-end business operations.
While finance and other business functions are still in the early stages of exploring Gen AI, enterprise funding is expected to increase in 2024, the research found. About The Hackett Group The Hackett Group, Inc.
Digital Awards – In early July, The Hackett Group announced the winners of its 2021 Digital Awards , which spotlight companies that are on the cutting edge of using digital transformation solutions, including automation, advanced analytics, and AI to hyper-automate end-to-end business operations.
In April 2021, Celonis partnered with IBM’s GlobalBusinessServices consulting arm to weave the Celonis Execution Management System (EMS) into its offering, adding the ability to analyze data thrown off by processes like Supply Chain Management, Finance, or Procurement to identify weaknesses and recommend fixes.
Summary Retail and CPG GlobalBusinessServices (GBS) organizations have traditionally delivered cost-effective and consistent support services. GBS organizations are taking ownership and accountability not just in accelerating value within the enterprise, but also in driving direct customer impact.
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