The future is bright (and digital!)
Posted by barbara.hodge@ssonetwork.com on June 25, 2021
What the shared services industry gained over the past year, experts agree, is legitimacy. The model proved itself many times over. What stands out, however, is that the GBS model is more resilient and performs better than non-GBS. What stands in the way of the model, more often than not, are political turf wars, as Bob Cecil explains in a recent column.
Nonetheless, today’s professionally run GBS represent the backbone of efficiency, driving not just standardization and cost gains, but also acting as engines of transformation for the entire business. Functions are increasingly coming to GBS for help in exploring and delivering innovation, automation, and new ways of working. Never is this more true than when faced with Future of Work scenarios that now loom large.
According to SSON Analytics data, 94% of GBS got through the crisis well – the majority of these “very well.” So, what defines these mythical GBS?
Predominantly, a digital orientation which prioritizes automation technology, SSON Analytics data confirms. GBS also take a broader view of defining their value by measuring business impact – as opposed to just cost.
One area that stands out is the opportunity for GBS to rebadge themselves as a center of excellence for digitization. While nearly 90% of respondents agree this is going to be a critical capability for the future, only 20% felt their current capability was up to scratch. The rise of the ‘digital COE’ is something executives will need to learn more about as shared services embrace the next opportunity to transform.
Learn more from SSON Analytics Visual Analytics Workbook: The Future of GBS is Digital
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