If it doesn’t evolve rightly, GBS will be DEAD in the next decade!

Six Dead-or-Alive Questions

Manny Korakis
Manny Korakis
SVP, CAO, Corporate Controller, and Treasurer
Manny is a business leader with 20+ years of experience in C-suite roles across companies like American Express Global Business Travel, SMP, and Symbol Technologies. He is currently the SVP, CAO, Corporate Controller, and Treasurer at IQVIA.
Caroline Basyn
Sashi Narahari
Founder and CEO
Founder & CEO of HighRadius, a fintech enterprise SaaS leader that provides Autonomous Software for Order to Cash, Treasury & Record to Report. Sashi’s leadership has secured the trust of 200+ Global 2000 companies.

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Dead-or-Alive Question #1: In 10 years, do you think BPOs for outsourcing will be dead or alive?
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Answer First: Dead
  • BPOs would be dead in their current structure.
  • As a working professional who has worked with companies, the BPOs usually work on the decision tree companies ask them to.
  • Companies don’t want the BPOs to think outside of the decision tree as they might lack the context compared to an insider from the company itself.
  • The companies wish to receive efficient and effective processing of the decision tree model without much hassle.
  • Instead of deploying a large man force to deliver the output, incorporating the use of technology is the solution.
  • Many functions in BPOs are programmed with the availability of technology, which can boost their demand in the future.
  • Thus, a model which has migrated towards technology-incorporated solutions and a minimalistic workforce is the path of the future.
  • Dead-or-Alive Question #2: In 10 years, will large, centralized service centers be dead or alive? Especially given the Covid effect of Work From Anywhere?
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    Answer First: Dead
    • The large, centralized service centers would be dead.
    • Although the industry was planning to look for a similar path of work away from the service locations, the COVID scenario accelerated the thinking in that direction.
    • Most of the processing could be done remotely, and there were fewer physical presence tasks.
    • The centers help foster relationships, but the historical model isn’t needed and has been embraced across the globe post the pandemic.
    • It is now crucial to focus on hiring skilled people who can work remotely, actively leverage technology, and help multiply the interaction.

    Dead-or-Alive Question #3: In the next ten years, do you think RPA in the current form ‘AS IS screen flow automation’ will be dead or alive?
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    Answer First: Dead
    • RPA would be dead in its current form.
    • RPA only processes what is programmed into it.
    • It still lacks the intelligence part of AI and Machine Learning.
    • In the future, the Shared Service model will evolve more than just processing towards a value-added service model.
    • RPA can do the front-end part of the process but still needs to evolve in terms of integration with AI and ML to succeed in the next decade.

    Dead-or-Alive Question #4: What are your thoughts on AI in GBS. In 10 years, will AI be dead or alive?
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    Answer First: Alive
    • AI has a lot of hype nowadays because the concept is great.
    • In the present scenario, the databases haven’t been populated effectively to enable the technologies to learn and become more innovative.
    • But the, people are still focussing on building and programming databases to enable the technology to get smarter.
    • Once the technology can become smarter, it can help make the right decisions that would be paramount to the company.
    • Thus, shortly AI is set to become more relevant and helpful, provided the databases are programmed to achieve the same effect.

    Dead-or-Alive Question #5: In 10 years, given the consistent wage inflation, will India be a top choice for service centers?
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    Answer First: Dead
    • India as a top choice for service centers would be dead.
    • India has been one of the top choices in labor arbitrage, with good skills, making it an excellent functional model.
    • But today, people have evolved more towards technology and the decentralized model of functioning, which might not help India to retain its position as the top priority.
    • The companies are more interested in finding the right skills to do the job at the right price.

    Dead-or-Alive Question #6: Would GBS be dead or alive as an organization?
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    Answer First: Dead
    • GBS will need to evolve to stay alive in the long run.
    • The comprehensive GBS model may be present, but its effectiveness is still not seen.
    • From an organization’s point of view, the top 3 services- HR, Finance, and IT are different skills.
    • The kind of skill required to drive all three is also debatable.
    • Thus the future of GBS should be more customer, vendor, and stakeholder centric and any third party outside the organization.
    • The current GBS model emphasizes an internal focus on making the process cheaper, faster, and more accurate.
    • The next model should be a customer, vendor-centric model to add more value.
    • Very few touch points with the customer as a Shared Service model need to be addressed.
    • In 10 years from now, the GBS model can be expected to migrate into a more evolved version that caters to the market’s needs.

    What’s your advice to other GBS leaders?What’s most vital for them to keep their eyes on for success?
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    Key Points
    • Advice to follow – “Stay out of your lane or don’t stay in your lane.”
    • Leaders should not just think about the process.
    • They should try to see its effect on other parts of the organization and how it impacts the customer and vendor base.
    • The focus should be more on expanding beyond the day-to-day remits to witness the potential of GBS in the future.
    • Leaders should think more like business persons rather than just processors to leverage the proper focus.

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