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EVENT FinanceSharedServices to GlobalBusinessServices: A Journey Worth Taking? Roundtable Wednesday, March 1, 2023 The ACCA (Association of Chartered Certified Accountants) report released in September 2022, FinanceSharedServices to GlobalBusinessServices: A Journey Worth Taking?
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.
2021 was a milestone year for GlobalBusinessServices (GBS) with most enterprises reporting the model exceeded expectations for globalbusinessservices solutions and delivery. GBS provided the needed strength and agility to seamlessly supply value without disruption from the pandemic.
Business process outsourcing, or BPO, is a crucial subject for GlobalBusinessServices (GBS), but sadly, it runs the risk of being underappreciated. BPO service providers have risen up the value chain and into many different functions in the previous ten years, including finance, supply chain, HR, and IT.
” – Peter Drucker In the 1980s, SharedService Centers (SSCs) and third-party Independent Software Vendors (ISVs) significantly changed how American organizations managed essential functions by providing access to global talent. This evolving landscape prompts a re-evaluation of how services can be optimally delivered.
The concept of corporate SharedServices (SS) has been around a long time, with the private sector credited with starting this concept in the late 1980’s, and the public sector about a decade later. Personally, and not trying to date myself, I came across this business model at a former employer around 2005. So, what is GBS?
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.
The concept of SharedServices Companies (SSC) is not new; however, the rise in domain expertise combined with modern technologies have helped them evolve from mere transactional offices into strategic value centers. Setting up a Finance Center of Excellence (COE) might just be the solution to these burgeoning realities.
I’ve never seen such a mismatch of supply and demand in the sharedservices space. While new enterprises are adopting the model at what seems to be an unprecedented pace post-COVID, at the same time, there are a surprising number of experienced sharedservices professionals out on the street. How were they orchestrated?
For those who have not read my previous post, “Moving from SharedServices to GlobalBusinessServices,” let me provide a quick summary. SharedServices (SS) is an operating model that has been around for decades. HR, IT, Finance, etc.) HR, IT, Finance, etc.)
But the title’s been swirling around in my head as I see globalbusinessservices (GBS ) ponder the next steps in their careers. A track record of success in a function such as finance or a strong functional pedigree prior to a GBS career—think finance or IT—is accretive to the leader’s chances of mobility.
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 sharedservices (SS). HR, IT, Finance, etc.) It enables functional resources (i.e.,
The GlobalBusinessServices (GBS) market has witnessed improvement in performance, enhancements in role, and growth across verticals and functions over the years. The following five types of CoEs help enterprises to drive stronger business performance.
The city has witnessed growth in both the quality and quantity of talent, fueled by its reputation as an educational hub that houses globally-recognized institutions such as ISB, IIIT, and BITS Pilani. This skilled talent pool has contributed to the growth of various industries, including IT, biotechnology, pharmaceuticals, and finance.
They’re reimagining and systematically transforming how they work in finance, procurement, HR and IT.”. The core system in Bosch’s GlobalBusinessServices unit includes seamless integration of advanced automation, including machine learning, chatbot, AI, RPA, and more. Citi’s digitalization took place on many levels.
CALIFORNIA– October 2020 – Chazey Partners, a leading management consulting firm specializing in SharedServices , Business Transformation and Robotic Process Automation (RPA) , has been expanding its RPA team globally to meet the increasing demand of the RPA implementation projects.
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.
More HR work will also be apportioned to fully automated and self-service systems’ functionality, and HR executives expect globalbusinessservices (GBS)/HR sharedservices units to handle 3.5% Technology spending, which is expected to rise by 4%, is one way HR organizations are hoping to bridge those gaps.
years or more, M&A activity wreaks special havoc on the globalbusinessservices model, its leaders, and its people. Finance and others are functions that are policy- or rules-driven, fairly cut-and-dried that face the challenges or scale or streamlining in merger and acquisition activity. Why is that?
years or more, M&A activity wreaks special havoc on the globalbusinessservices model, its leaders, and its people. Finance and others are functions that are policy- or rules-driven, fairly cut-and-dried that face the challenges or scale or streamlining in merger and acquisition activity. Why is that?
CIOs, CTOs, CDOs IT executives, IT strategy leaders BPO department leaders GBS leaders managing IT and BPO outsourcing contracts Pricing leaders Solutioning leaders Pre-sales leaders Large pursuits leaders Finance Leaders Rahul Gehani Partner Akshay Mathur Vice President Abhishek Sharma Managing Partner Kunal Verma Vice President Register for the Webinar (..)
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