This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Business process outsourcing, or BPO, is a crucial subject for GlobalBusinessServices (GBS), but sadly, it runs the risk of being underappreciated. When you consider outsourcing in general for shared services and GBS, you can see how value is realized as the business grows over time.
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.
Over the past few years, as Shared Services management thinking as well as the awareness of the value of data analytics has evolved, there is … Beyond Traditional Shared Services – GlobalBusinessServices Read More ».
“Enterprise leaders in our 2024 Key Issues Study are clearly focused on lowering costs and increasing profitability and will be placing high expectations on service providers with little room for rate increases. Enterprise spending in 2024 will be directed toward modernizing technology, data analytics and process optimization.
Initially released in 2022, Everest Group’s top employer reports were the first to evaluate the globalbusinessservices (GBS) and tech market for their efficacy and ability to demonstrate their employee value proposition. Employee engagement, people centricity and talent development remain at the core of JTI’s GBS strategy.
With their growing maturity, GlobalBusinessServices (GBS) organizations in Banking and Financial Services (BFS) have taken on critical roles in the data value chain. Designing and creating business-critical dashboards to review business performance. Data is a powerful force. Data is a powerful force.
As a result of these concerns, global leaders adopted a more cautious stance going into this year, according to Everest Group’s annual Key Issues survey of over 200 global leaders across industry enterprises, GlobalBusinessServices (GBS) centers , and providers.
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.
The GlobalBusinessServices (GBS) market has witnessed improvement in performance, enhancements in role, and growth across verticals and functions over the years. Talent CoE: The talent CoE develops the strategic services, capabilities, and best practices for staffing, e-learning, and employee onboarding.
Case #1: Assisted a top 10 service provider in identification of GlobalBusinessService / captive targets for acquisition/carve-outs. Case #2: Identifying best-fit European locations for new delivery center set-up for a global IT-BPO service provider. and operations (European language requirements).
A major part of the growth was driven by Information, Communication, and Telecom (ICT) companies, primarily focused on establishing centers for Engineering Research and Development (ER&D) such as product development and electric mobility, and digital technologies like AI, IoT, and data analytics. Latin America: .
In fact, more than 80% of respondents expect their investments in outsourcing for IT services (ITS) and business process services (BPS) to stay the same or increase in 2023 over 2022, and more than 40% are optimistic about growth in their globalservices budgets in the coming year.
Organizations are also becoming more open to leveraging service providers’ support in their GlobalBusinessServices (GBS)/Shared Services Center (SSC) operations. Service providers are positioning for growth by evolving in these ways: Developing more flexible globalservices delivery and location models.
But strategic priorities are driving procurement’s continued focus on reducing spend cost, and pursuing digital transformation remain critical, along with improving analytics and insight capabilities. Nearly one-half of all companies surveyed have large-scale deployments of spend analytics tools in place, and another 44% have pilots.
The Software Engineering Institute of the Carnegie Mellon University defines a COE as “A premier organization providing an exceptional product or service in an assigned sphere of expertise and within a specific field of technology, business, or government, consistent with the unique requirements and capabilities of the COE organization.”
Finance executives also expressed a low degree of confidence in their ability to meet business objectives in several priority areas, including retaining the right skills and talent (60% low confidence), using advanced analytics to turn data into actionable insights (57%), improving finance agility (50%), and driving cost reduction (50%).
These include research and development (R&D), product development, digital transformation initiatives, data analytics, and even end-to-end supply chain management. However, today’s GCCs have moved up the value chain, delivering a wide array of strategic GCC functions.
They have streamlined the day-to-day transactional elements of their operations, and through systematic use of globalbusinessservices and process automation have freed up an additional 12% of their teams’ efforts to focus on value-added activities.
Small-scale deployments of advanced analytics , data visualization and master data management are the norm, with less than 20% of all HR organizations reporting large-scale implementations. A complimentary version of The Hackett Group’s 2023 CHRO Agenda research is available, with registration, at [link]. “So
It was written with the support and input of SSON’s Global Advisory Board – 20+ of the world’s leading SSO and GBS operators. GlobalBusinessServices – Transformation Driver & Digital Enabler. The ebook provides insights into the current state and landscape of GlobalBusinessServices (GBS).
(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. The project faced significant challenges.
Many tools (or methodologies) throughout the years have enabled achievement of these goals including Shared Services, Lean Six Sigma, GlobalBusinessServices (GBS) and maybe the most impactful, Technology Automation. maybe at its most rapid pace in history! .”
Let’s consider the example of a GCC of a leading life sciences firm that proved the GCC’s ability to build effective teams across multiple therapeutic areas by centralizing capabilities such as market research, analytics, and generating insights.
These companies have successfully hyper-automated a wide range of end-to-end business processes through their creative application of intelligent automation, advanced analytics and artificial intelligence (AI).
Data analytics and reporting topped the list of planned improvement initiatives for 2024, followed by talent management. Data analytics was one of several improvement initiatives deemed to be of high importance but low maturity, making it a critical development area. spending increase. About The Hackett Group The Hackett Group, Inc.
This also includes investments in emerging technologies such as smart automation, advanced analytics, and collaboration tools that enable greater automation. For example, 68% of organizations currently have self-service portals or networks deployed, with an expected increase of 21% during 2021. Data and analytics.
Consolidate Key Functions GCC enables consolidation of important capabilities – such as IT, Finance, HR, Procurement, Analytics and more – into a single location or a small network of centers. Consolidation works well for the GlobalBusinessServices (GBS) model within GCCS.
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.
Bengaluru, 19 September 2024 : In the face of mounting macro-economic challenges, GlobalBusinessServices (GBS) organizations are at a pivotal moment. This involves leveraging advanced analytics tools to capture and visualize performance metrics, enabling GBS leaders to identify bottlenecks and areas for improvement.
Many finance leaders also see an opportunity for using Gen AI in business performance support, including amplified analytics, intelligent task automation, conversational agents for service requests and natural language processing for translation of narratives. About The Hackett Group The Hackett Group, Inc.
New business functions in the organization will be incubated and scaled in India, making the country a sandbox of breakthrough innovations. GlobalBusinessServices (GBS) has been a major trend across large companies.
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 pandemic has impacted all businesses, small and large. In many cases the difference between a successful business resiliency story and an unsuccessful one was the quality and maturity of its GlobalBusinessServices (GBS) organization.
Their technology costs are 11% lower than their peers, thanks to consistent investments in modern architecture and emerging technologies such as Gen AI, smart automation, advanced analytics, and collaboration tools. These investments continue to reduce costs while increasing overall speed.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content