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GlobalBusinessServices (GBS) organizations have a big opportunity to champion Environment, Social, and Governance (ESG) in banking and financial services (BFS) institutions. ESG is creating new opportunities for BFS GlobalBusinessServices organizations.
In today’s fast-evolving business landscape, the integration of Environmental, Social, and Governance (ESG) principles into corporate strategies is not just a trend but a fundamental shift in how businesses operate and thrive. It’s a core part of our business strategy, intertwined with our operations and corporate ethos.
These topics apply to many areas within the organization, from front office and globalbusinessservices (GBS) to compliance and riskmanagement. How much time, effort, and resources are required to map business processes and update process documentation when processes change?
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). Developed entirely in-house by the Procurement Excellence team, the compliance Passport revolutionizes procurement riskmanagement.
Other critical development areas include category management, sustainable procurement, third-party riskmanagement and supplier relationship management. Data analytics was one of several improvement initiatives deemed to be of high importance but low maturity, making it a critical development area.
Understanding the sources of digital world-class performance. For example, 68% of organizations currently have self-service portals or networks deployed, with an expected increase of 21% during 2021. The coronavirus outbreak and its impact on supply riskmanagement lent new urgency to improving procurement’s data management practices.
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