Taking Global Business Services to the Next Level: Strategies for Success

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Global Business Services (GBS) is a strategy that has been gaining popularity among companies in recent years. It involves consolidating and standardizing a company's back-office functions such as finance, accounting, procurement, and HR into a single, centralized organization. This approach enables organizations to streamline their operations, increase efficiency, and reduce costs.

However, as the business landscape continues to evolve, companies are now looking for ways to take their GBS to the next level. In this blog, we will explore some of the current activities that companies are undertaking to achieve this goal.

  1. Expanding the scope of GBS:

One of the ways that companies are taking their GBS to the next level is by expanding the scope of their services. This means going beyond the traditional back-office functions and taking on more complex tasks such as analytics, data management, and customer service. By doing so, companies can drive greater value from their GBS organization and improve their overall business performance.

For example, some companies are using GBS to develop new products and services, leveraging their expertise in analytics and data management to identify market opportunities and drive innovation.

  1. Leveraging digital technologies:

Another way that companies are taking their GBS to the next level is by leveraging digital technologies such as automation, artificial intelligence (AI), and machine learning (ML). By automating repetitive tasks and leveraging AI and ML to analyze data, companies can improve their operational efficiency, reduce costs, and drive greater business value.

For example, some companies are using GBS to implement robotic process automation (RPA) to automate routine tasks such as data entry and invoice processing. Others are using ML algorithms to analyze customer data and identify new cross-selling opportunities.

  1. Developing a customer-centric approach:

A customer-centric approach is another key strategy that companies are using to take their GBS to the next level. By focusing on the needs and preferences of their customers, companies can improve their overall customer experience, increase customer satisfaction, and drive greater revenue growth.

For example, some companies are using GBS to implement customer service centers that provide round-the-clock support to customers across multiple channels, including phone, email, and social media. Others are using GBS to develop personalized marketing campaigns that target specific customer segments and drive greater customer engagement.

  1. Building a culture of continuous improvement:

Finally, companies are taking their GBS to the next level by building a culture of continuous improvement. This means creating a culture where employees are encouraged to identify and implement process improvements, share best practices, and drive innovation.

For example, some companies are using GBS to implement lean methodologies, such as Kaizen and Six Sigma, to identify and eliminate waste in their processes. Others are using GBS to establish centers of excellence that provide training and support to employees to help them develop new skills and improve their performance.

In conclusion, taking GBS to the next level requires companies to think strategically about how they can expand the scope of their services, leverage digital technologies, develop a customer-centric approach, and build a culture of continuous improvement. By doing so, companies can drive greater value from their GBS organization and stay ahead of the competition in an increasingly complex and dynamic business environment.

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