Vikrant A.

You ever sit back and think, “Why does it feel like my shared services team is just… there?” Like, they’re taking care of the nitty-gritty but not really lighting up the innovation candles? You’re not alone. I’ve been in this game over 20 years, and I’ve seen firsthand how the perception of shared services being just a cost center drives everyone nuts. When did we decide that shared services could only live in the shadows, acting like the silent hand that helps run the show without getting the credit? It’s time for reinvention. Transforming shared services into an innovation hub isn’t just a dream—it’s a necessity. And let me tell you, it’s happening. If you haven’t heard of it yet, you might want to check out THEGBSESGE blog. Vikrant Aglawe, our shared services expert, is paving the way. Understanding Change: What’s Driving Transformation? So, what’s up with this transformation business? Here’s the thing—companies are waking up. They can’t afford to treat shared services like an assembly line anymore. The world’s buzzin’ with fresh ideas and cutting-edge tech, so it’s high time for shared services to step up. Digital transformation: Every corner of business is going digital. Customer expectations: Customers expect more. They want slick experiences. Cost pressures: Businesses are all about that bottom line. They’re squeezing costs and looking for efficiency. These aren’t just minor changes—this is a seismic shift in business strategy. The role of shared services is evolving, and being a cost center isn’t cutting it anymore. The goal is to become a partner in innovation. Defining the New Role of GBS Now, let’s be real. Moving from a cost center to an innovation hub doesn’t happen overnight. It involves understanding what GBS—Global Business Services—can truly do. It’s not just about streamlining processes; it’s about leveraging resources to foster a culture of innovation and collaboration. Your GBS team should be the pulse of innovation. Here’s how you can help them get there: Empower your people: Trust the experts within the team—give them space to innovate. Invest in training: Equip your team with skills in new technologies—don’t let them fall behind. Foster a culture of experimentation: Accept that not every idea will hit the mark; it’s about learning. When each team member feels empowered, they can bring fresh ideas to the table. You want your team buzzing with excitement over processes and solutions, not dreading their tasks! Bringing Innovation to Life So how do you put this into practice? What’s the roadmap for turning shared services into a driver of change rather than just a support function? Focus on design thinking: Encourage problem-solving from the customer’s perspective. What are their pressing needs? Leveraging data analytics: Use data as a guiding light. Insights can lead to substantial efficiency gains. Cross-functional collaboration: Break down silos—bring teams together to brainstorm and innovate. Innovation is not about flashy ideas or the shiniest new tools; it’s also about applying old-school knowledge in new, effective ways. I’ve seen teams hit home runs with simple tweaks to existing processes based on customer feedback. Success Stories: Inspiration for Your Journey I can share countless examples, but let’s pick a couple to give you inspiration. One bank I worked with realized their back-office processes were just sitting in a corner, untouched and unimproved. They decided to host innovation workshops, inviting frontline staff to share pain points. Sounds simple, right? But after a few intensive sessions, they redesigned their entire service delivery model. The result? A 30% increase in efficiency and, most importantly, happier employees. Another major player in the tech industry moved from simply processing invoices to automating those processes while using AI-driven analytics to predict cash flow needs. The energy in the department transformed—they weren’t just pushing paper; they were actively contributing strategically to the business. Facing Challenges Head-On Now, I don’t want to paint a rosy picture here. Transforming shared services isn’t all rainbows and butterflies. There will be pushback. There are always skeptics. You might hear: “This is how we’ve always done it!” “Innovation sounds great, but we’re busy!” “What if we fail?” These concerns are valid. Acknowledge them. Prepare your team for this shift. Share testimonials from other organizations that have successfully taken the plunge. Use inspiring anecdotes to keep motivation high during times of resistance. The journey might be bumpy, but the results are worth it. Why GBS Must Be an Innovation Hub The bottom line is clear: GBS shouldn’t just be a cog in the machine. It’s about positioning your GBS as the backbone of innovation within your organization. When your shared services branch is seen as a partner rather than an obligation, the potential for transformation becomes endless. Still not convinced? Check out resources on the strategy and leadership section of the THEGBSESGE blog for deeper insights. It’s filled with stories from actual shared services teams who’ve nailed the transformation. Wrap Up: The Path Forward As you gear up for this transition, remember—you’re not just making changes to processes. You’re changing perceptions. You’re telling your team, your company, and your customers, “We’re not just here for the basic tasks; we’re here to innovate and drive transformation.” Use the roadmap we discussed. Empower your people and foster culture change. Share the wins with your team, however small they might seem. Each step counts. It’s all part of evolving from a cost center into a groundbreaking innovation hub. Get ready to make some waves, because the tide of shared services transformation is coming, and trust me, you want to be on the forefront. If you need more insights to fuel your transformation journey, subscribe to THEGBSESGE and stay updated. Let’s drive this change together!

Why Your Location Strategy Matters Have you ever felt overwhelmed by choosing the perfect location for your shared services? I get it. This is a critical move that can define your operations from the ground up. You want to pick a spot that not only fits the company’s operations but also resonates with your team’s spirit. Crafting a strategic location blueprint is not just about geography; it’s about people and processes. The Game of Location Choices When I started in the shared services sector, I was struck by how location choices can either make or break a project. Here’s what you need to chew on: Talent Pool: The capabilities and availability of talent in the area. Cost of Living: Understanding the economic landscape for operational costs. Technology Infrastructure: The support systems available for seamless operations. Cultural Fit: How the local culture aligns with your organization’s values. Scalability: Is the location flexible enough for future growth? Connecting the Dots Let’s break this down a little more and look at how each decision can have ripples in your operations. Picture this: you’ve secured a prime location, but it lacks a skilled workforce. What do you think will happen? You’ll spend more on training, while also battling turnover rates. Trust me, I’ve been there. In contrast, imagine setting up in a hub filled with skilled talent. You fast-track your operations, feel the energy, and watch creativity peak. That’s the kind of vibe you want to cultivate. Mapping Local Trends and Insights We often forget to account for local trends and industry shifts. What’s happening in the local economy? Is there a tech boom? Keeping in sync with these shifts can help you adapt quickly. Here’s a hit list of local insights to consider: Are nearby companies competing for the same talent? What’s the regulatory environment like? Is the economy booming or in decline? Are there community support networks that foster business development? The Balance: Cost vs. Quality Now, can we talk about the elephant in the room? Financial implications. Getting the best talent often comes with a price tag. But there’s an upside to that, too. While it might sting at first, investing in the right talent can: Enhance productivity. Decrease operational hiccups. Boost employee retention. It’s a balancing act that pays off in the long run. Building a Culture of Inclusivity Beyond logistics and finances, let’s touch on something that really matters—company culture. You want your team to feel a sense of belonging and purpose. A spatial blueprint should consider: How accessible is your space? Are there areas that foster collaboration? Does the layout support inclusivity? It’s like curating a shared space where everyone feels like they contribute to something bigger. Plus, a thriving culture is often a magnet for top talent. Leveraging Technology for Remote Capabilities In this era, we can’t ignore the role technology plays. With remote work being a norm, why not utilize tech tools that enhance collaboration? Your blueprint should integrate: Cloud-based platforms for project management. Real-time communication tools. Data analytics to track productivity. Remote onboarding techniques. This tech layer not only bridges distances but also ensures alignment across teams, regardless of where they sit. Final Thoughts on Location Strategy So, what’s the takeaway here? Before you even think about picking a location, pause and think seriously about your organization’s unique needs. This strategic location blueprint isn’t just about putting pens to paper; it’s about crafting a futurescape. Make sure you consider every angle—from talent quality to cultural harmony, and technological adaptability. Capturing all these elements will set you on a trajectory that allows your shared services to soar. If you’re diving deeper into shared services transformation, I highly recommend checking out THEGBSEDGE blog. It’s a treasure trove of insights, crafted by Vikrant Aglawe, who has over 20 years of experience in the shared services world. Plus, there’s always something new to learn to sharpen your competitive edge.

Let’s face it. We’re all looking to prove what we do matters. In the world of Global Business Services (GBS), it’s not just about crunching numbers and hitting KPIs like they’re some sort of golden ticket. Sure, key performance indicators are important — they show us where we stand and how we stack up against industry benchmarks. But if you’re only measuring success through those sterile metrics, you’re missing the bigger picture. What if I told you there’s a treasure trove of insights hiding just beyond the numbers? A wealth of understanding that can transform how your team operates and ultimately, how your organization thrives. The Limitations of Traditional KPIs We’ve all been there. You meet up to go over the latest KPI reports, and the conversation usually sounds a lot like reporting back on grades in school. It’s all well and good until you realize: They don’t capture the *why* behind the *what*. They often miss out on qualitative feedback that can genuinely shape services. They can turn into a narrow focus that stifles innovation. Setting the right KPIs is crucial, but relying on them solely can lead to missed opportunities. If KPIs are the headline of your story, insights are the compelling narrative that fills in the gaps. Look Beyond the Numbers Ever tried to tell a story with just numbers? It’s tough. Just like in any good conversation, context matters. Engaging with your stakeholders, understanding customer experiences, and even assessing employee satisfaction — they’re all qualitative aspects that often don’t fit neatly into a chart. Yet, these narratives can be the driving force for real transformation. Here are some ways to broaden your approach: Surveys & Feedback: Use tools to gather real insights from employees and customers. What are their pain points? Benchmark Against Peers: Don’t just compare against your past. Look outside at what others in your industry are doing. Focus on Outcomes: Are the services you’re providing truly benefiting the organization? Positive customer feedback should give you more insight than any KPI. Harnessing Stories as a Metric Let me share a quick story. A large organization was initially drowning in numbers. Departments focused solely on metrics, often leading to burnout among employees. When they decided to supplement KPIs with storytelling sessions, something magical happened. Employees began sharing how anecdotes tied back to their day-to-day work. In these sessions, the team shared stories about how their efforts directly helped a customer. They painted a picture, illustrating the direct impact of their work. This created a newfound sense of purpose that KPIs simply couldn’t provide. When you focus on how services impact real people, you’re not just measuring success; you’re celebrating it. Process Optimization: A Layer Beyond KPIs Let’s talk about process optimization. It’s one of those buzzwords that gets thrown around a lot, but success here goes beyond just monitoring performance. Identify Bottlenecks: Where are the friction points in your process? Listening to frontline teams can highlight these areas. Focus on Continuous Improvement: It’s not a one-time thing. Keep changing and adapting based on feedback. Embrace Technology: Use tools that facilitate better insights and drive efficiencies, linking back to your KPIs. No one’s saying to ditch KPIs. They still matter. But aligning those numbers with actual processes and outcomes will take your GBS to new heights. The Human Factor: Cultivating a Better Workplace We can’t talk about shared services success without chatting about your most valuable asset — the people. How well do your teams collaborate? Is there a sense of camaraderie? When people feel valued and contribute to discussions, you get innovative ideas sprouting up everywhere. Fostering a strong workplace culture is no longer optional. It’s a necessity. Employees equipped with the right tools and a supportive environment will naturally lead to better performance. Tracking Customer Experience Another layer to consider is customer experience. Have you ever been on the receiving end of poor service? Frustrating, right? For your organization to thrive, customer insights need to come in strong. Let your clients’ experiences dictate shifts in your approach. You can do the following: Customer Journey Mapping: Understand the different touchpoints and how clients feel every step of the way. Improve Responsiveness: Use analytics to track response times and ensure clients feel heard and valued. Regular Check-ins: Establish semi-annual or quarterly meetings to assess satisfaction and gather feedback. Sharing Success Stories What if I told you every department in your company had success stories to share? If your teams understand how they contributed to larger objectives, they’ll feel motivated to push further. Encouraging open communication and sharing wins not only builds morale but enhances overall GBS success. Let’s embrace that humanity in business; we’re all in this together after all. Embracing Change The shared services landscape is ever-evolving. We have to be adaptable. The best teams become those that anticipate change. They don’t just react to what’s thrown at them. Regular Training: Ensure everyone stays updated with skills and industry shifts. Cross-Functional Teams: Create teams with diverse expertise to approach problems from different angles. Encourage Innovation: Provide a space where employees can test new ideas without the fear of failure. Conclusion: Reflect and Realign Success in GBS isn’t just about the numbers. It’s about how we tell our story, how we compare experiences, and how we link our wins to tangible outcomes. So next time you’re preparing for a meeting surrounding KPIs, take a moment to reflect. Ask yourself: Are we listening to our people and customers? How can we better align our metrics with the stories that matter? What’s the *human* element behind our process optimization strategies? If you’re seeking deep insights and powerful strategies on transforming shared services, I highly recommend checking out THEGBSEDGE. A treasure trove of resources awaits, all written with a fresh perspective on transformation, innovation, and leadership in the shared services industry. This isn’t just a story about metrics; it’s about finding meaning in our work.

Ever felt bogged down by charts and spreadsheets that just don’t make sense? Or maybe you’ve been stuck in meeting after meeting, discussing metrics that don’t reflect the hard work your team puts in? You’re not alone. Many folks in shared services share similar frustrations. The good news? We’re about to redefine what success looks like for Global Business Services (GBS). In my 20+ years in the outsourcing and offshoring industry, I’ve seen how often businesses miss the mark when it comes to measuring GBS success. It’s not about the number of contracts signed or the hours reduced. It’s about the real impact you have on the organization, on the people, and on the process. Understanding Metrics That Matter Let’s kick off with the basics. What metrics truly reflect value in GBS? Here’s a hint: it’s not just about efficiency. It’s about effectiveness, engagement, and outcomes. 1. Customer Satisfaction Scores Imagine this: You’re delivering a project, you’ve hit all the deadlines, but when you check in with your stakeholders, they don’t feel satisfied. Ouch! Customer satisfaction scores are vital. They’re your reality check. Craft surveys to gauge how well you’re meeting customer needs. Look for patterns over time. Are there recurring issues? Address them fast! 2. Process Optimization Metrics What’s the point of streamlined processes if no one understands them? Don’t just track how quickly tasks are done. Dive deeper. Track the time taken to complete tasks before and after changes. Measure the error rates in processes—less error = more efficiency. Gather feedback from the team on how these processes feel. If they find it convoluted, so will your clients. 3. Employee Engagement Scores Happy employees equal happy customers. It’s that simple. So, how do we measure this? Regularly conduct employee satisfaction surveys. Monitor turnover rates. Are people leaving? If so, find out why. Track participation in initiatives designed to uplift the workforce. 4. Financial Metrics Let’s not forget the numbers. But not just the usual financial reports. Look at the bigger picture. Cost savings should be tracked, yes, but also how those savings are being reinvested into your processes. Revenue growth associated with GBS initiatives can be a great indicator of success. 5. Innovation Metrics How innovatively is your GBS operating? Metrics here could include: Number of new solutions implemented. Time taken to deliver these solutions. Adoption rates among users. The Human Factor in GBS Success Let’s shift gears a bit. We’ve chatted about numbers and figures, but underpinning every successful metric you track is a vital element: your team. Real success comes not only from processes but from the people behind them. Think of GBS as a vibrant ecosystem where each role matters. Associates to process experts, everyone plays a part. Nurturing a Culture of Accountability When each team member understands their role in the broader picture, accountability flourishes. Foster this culture by: Setting clear objectives and KPIs. Hosting regular check-ins to discuss progress and hurdles. Creating Feedback Loops How many times have you felt unheard in a meeting? It’s disheartening, right? Create regular feedback loops within your team to ensure everyone feels engaged. Use tools to gather input anonymously. Encourage open forums to discuss feedback promptly. Aligning with Organizational Goals At the end of the day, the success of GBS isn’t standalone. It should align with the broader objectives of your organization. Take time to understand the organization’s strategic goals. Are you increasing digital transformation efforts? Then ensure your metrics reflect progress in that area. Mapping Metrics to Objectives Once you know the goals, map your metrics to address these objectives: Link customer satisfaction scores to customer retention rates. Show how employee engagement boosts productivity metrics. Real-Life Examples of GBS Transformation Let’s bring this to life with some relatable stories. A leading financial services firm I worked with altered its approach entirely. Instead of focusing solely on cost savings in its GBS operations, they shifted to a value-driven framework. The result? They noticed: 47% increase in customer satisfaction scores. 35% reduction in process errors. Double the engagement in employee-led initiatives. These numbers are not just data; they’re a reflection of a successful culture that values each piece of the puzzle. Conclusion: The Future is Value-Driven If there’s one takeaway from this discussion, it’s this: Don’t fall into the trap of simply counting hours or contracts. Focus on the value your GBS initiatives create. It’s about making connections, understanding needs, and delivering outcomes that genuinely matter. As we reshape our approach to measuring success in GBS, let’s keep evolving. Curious about more insights and transformational strategies? Check out the THEGBSEDGE blog, which dives deep into shared services topics that will elevate your understanding and drive success in your journey. Here’s to redefining GBS success—together!

You’re juggling a million tasks, and somewhere in the chaos, someone mentions GBS portfolio optimization. You nod like you totally get it, but inside, you’re wondering if it’s really as complex as it sounds. Well, you’re not alone. It can feel like navigating a labyrinth, especially in the shared services industry. But let’s break this down and make it as straightforward as grabbing a coffee. What’s GBS Portfolio Optimization Really About? At its core, GBS portfolio optimization is about making your shared services operation as effective and efficient as possible. Think of it as fine-tuning an engine to make sure every part is running smoothly, with minimal friction. Expand: Finding new opportunities to grow your services. Consolidate: Streamlining existing processes to eliminate redundancies. Diversify: Venturing into new service lines to add value. Why should you care? Because when done right, GBS portfolio optimization can significantly cut costs, boost performance, and enhance employee satisfaction. Not bad, huh? Why You Need to Expand Your Horizons Imagine this: you’ve perfected your core services, but the market is changing, and your clients are looking for more. If you stick to what you know, you might find yourself in a tight spot. Expanding means looking for additional areas where your services can add value. It’s all about being proactive instead of reactive. Some ways you can expand: Identify Emerging Needs: Always keep an ear to the ground for trends in your industry. Leverage Technology: Automate repetitive tasks to free up resources for innovation. Cross-Sell Services: Look for existing clients who might benefit from additional offerings. Consolidate to Simplify Let’s talk about consolidation. This is where you cut the fat and get back to basics. Too many overlapping processes? Redundant services draining your resources? Time to streamline. When we’re talking about operational efficiency, sometimes less is more. Here’s how to approach consolidation: Conduct a Service Audit: Assess what services are working and which aren’t. Standardize Processes: Create uniformity in how tasks are completed to boost productivity. Centralize Data Management: Use shared systems to eliminate information silos. Trust me, cleaning house feels good. It clears the clutter so you can focus on what truly matters. Less noise, more clarity. Diversification: Don’t Put All Your Eggs in One Basket Now, let’s chat about diversification. It’s a buzzword for a reason. If you’re only offering one type of service, you’re asking for trouble. The reality is, markets fluctuate, and client needs change. By diversifying, you’re essentially future-proofing your operation. Consider these steps to diversify: Market Research: Stay aware of industry shifts to catch opportunities early. Pilot New Services: Test new offerings in small segments before a full rollout. Collaborate with Experts: Partner with specialists to bring new ideas onboard. Remember, trying something new can be daunting, but the payoffs can be substantial. It’s about being adaptable and prepared, even when the tides turn unexpectedly. Real-World Example: A Success Story I once worked with a shared services center that was all over the place—a bit of this, a bit of that. They had multiple teams handling similar tasks, and IT was a total mess. We decided to take a deep dive, focusing on optimization. First, we identified redundancy and streamlined processes, leading to a 30% reduction in operational costs within months. Then, we expanded their service offerings based on emerging market needs, diversifying into data analytics support. The transformation was remarkable—boosting client satisfaction and employee engagement. It pays off to be strategic. The GBS Edge: Your Go-To Resource If you’re serious about mastering GBS portfolio optimization, you need to be on top of these trends and strategies. I highly recommend checking out THEGBSEDGE, a fantastic resource for insights on shared services transformation, technology innovation, and leadership strategies. There’s a treasure trove of information that can guide your journey. Keep Your Team Engaged There’s no way around it: engagement matters. Your team should be on the same page, feeling like part of the journey. When exploring GBS portfolio optimization, involve them in the decision-making process. Try these tactics to keep your team engaged: Regular Check-Ins: Schedule team meetings to discuss progress and gather feedback. Empower with Information: Share insights from the GBS Edge blog to stir up ideas. Celebrate Wins: Acknowledge both small and big successes to keep morale high. Wrapping It Up GBS portfolio optimization sounds intimidating, but it doesn’t have to be. Start small. Focus on expanding, consolidating, and diversifying your offerings. The key is to keep it real—this isn’t about jumping through hoops, it’s about making genuine improvements that benefit everyone involved. Take those steps, stay informed through resources like THEGBSEDGE, and keep pushing the envelope. You’ll find that mastering GBS portfolio optimization not only enhances your performance but also sets you up for future growth. Let’s embrace the change together!