Navigating the changing landscape of GBS: Five key trends to watch
Global Business Services (GBS) are constantly evolving, and staying on top of the latest trends is crucial for organisations looking to remain competitive in today’s fast-paced business environment. From automation and AI to outsourcing and digital transformation, there is a multitude of factors shaping the future of GBS.
With constant financial constraints, unpredictable market fluctuations, and interconnected global supply chains, companies must improve the efficiency of their support functions. Although the worst of the COVID-19 pandemic appears to end and the effects on companies and their GBS organisations are subsiding, the pandemic has accelerated pre-existing market trends, particularly those driven by technology. It has led to significant changes in the future operations of GBS organisations.
GBS continues to grow remarkably and could grow significantly, from USD 1.8 trillion in 2022 to 2.5 trillion in 2025. While this is exciting news for companies, businesses must also be mindful of key trends that are shaping their future landscape.
Global Business Service trends driving the businesses
Global Business Services (GBS) refers to the centralised management of various business functions across an organisation, such as finance, human resources, and IT. It provides these services more efficiently and cost-effectively by centralising and standardising processes, leveraging technology, and outsourcing non-core functions.
GBS digital transformation has become an increasingly important part of modern business operations as companies look for ways to streamline processes, improve efficiency, and lower costs. The evolution of GBS has been shaped by several trends, including technological advances, shifting market conditions, and changing business needs.
In recent years, there has been a growing trend in the industry toward adopting GBS. Several factors drive this, including the need for organisations to cut costs, improve efficiency, and increase agility in the face of rapid technological and market changes. Additionally, the rise of GBS digital transformation has led many companies to rethink their business models and processes, with GBS digital transformation seen as a way to streamline operations and better leverage technology.
Here are five key trends that are driving the evolution of GBS today:
Automation and digital technologies:
Automation and digital technologies play an increasingly important role in GBS operations. Robotic Process Automation (RPA) and artificial intelligence (AI) are being used to automate repetitive tasks, improve data management, and increase efficiency. Additionally, many GBS organisations use cloud computing and other digital technologies to establish a more flexible and responsive IT infrastructure.
Flexible and agile operations:
Companies are constantly looking for ways to adapt to changing market conditions, respond quickly to new opportunities, and remain competitive. This has led to the development of more flexible and agile GBS digital transformation models, such as shared services, which allow companies to quickly adjust their operations to meet changing business needs.
Business intelligence and data analytics:
Companies are looking for ways to gain deeper insights into their operations and make better business decisions. GBS organisations are increasingly using data analytics and business intelligence tools to better understand their operations, identify areas for improvement, and make better decisions. Furthermore, many GBS organisations use data analytics and business intelligence to improve customer service and gain a competitive edge.
The COVID-19 pandemic accelerated the shift towards remote working, which has created a new challenge for GBS organisations. GBS organisations must find new ways to maintain collaboration and productivity and ensure that their remote employees can access the same tools, resources, and support as their in-person colleagues. To meet this challenge, many GBS organisations are turning to digital technologies, such as collaboration platforms, to enable remote working and maintain productivity.
With the increase of digital technologies and remote working, the threat of cyber-attacks is also increasing. GBS organisations are placing more importance on cybersecurity to protect their sensitive data and ensure the continuity of operations.
Companies that can adapt to these trends and leverage new technologies will be well-positioned to succeed in the years ahead. As the business environment continues to evolve, GBS organisations must be ready to adapt and change to meet new challenges.
For organisations on the GBS digital transformation journey, agility is key in responding to a rapidly changing technology and business landscape. Now more than ever, it is crucial to deliver and exceed organisational expectations with a robust digital mindset backed by innovation. Enabling businesses to sense, learn, respond, and evolve like living organisms will be imperative for business excellence. A comprehensive yet modular suite of services is doing precisely that. Equipping organisations with intuitive decision-making automatically at scale, actionable insights based on real-time solutions, anytime/anywhere experience, and in-depth data visibility across functions leading to hyper-productivity, Live Enterprise is building connected organisations that are innovating collaboratively for the future.
How can Infosys BPM help?
Our Business Process Reengineering services are designed to aid corporations in streamlining the strategy and efficacy of their operations. To thoroughly evaluate value assessment and operational diagnostics, we utilise our time-tested practitioner-led methodology in conjunction with various toolkits, frameworks, and digital capabilities. Our all-inclusive reengineering solution employs our technological, domain, and digital competencies to enable organisations to fundamentally rebuild their business processes, with gbs transformation.