Best Practices

Let’s get real for a moment. If you’re involved in shared services, especially in emerging markets, you’ve likely encountered a whirlwind of challenges. From process optimization to managing diverse teams across borders, it can feel overwhelming. I’ve been in this game for over 20 years, setting up shared service centers for global organizations. Trust me, I’ve seen the good, the bad, and the ugly. But, navigating shared services doesn’t have to be impossible. With a bit of strategy and a human-centered approach, you can turn chaos into coherence. The Importance of Understanding Local Context First off, we can’t ignore the significance of local context when diving into emerging markets. Things like culture, regulations, and economic conditions shape how shared services function. Think about it: what works in one market might flop in another. Here’s how to get a grip on local nuances: Engage Locally: Build relationships with local stakeholders. Get their insights. They’ll help you navigate roadblocks. Research Regulations: Be mindful of legal requirements that can vary dramatically between countries. Cultural Adaptation: Don’t just drop a Western model onto a local market. Adapt your approach to fit cultural expectations. Effective Process Optimization Strategies Now, let’s talk process optimization. In shared services, the aim is to streamline processes while maintaining quality. Here’s how you can go about it: Map Out Processes: Get a clear visual of all operations. Use process mapping to identify redundancies. Automate Where Possible: Employ technology but make it relatable. Machines should enhance human effort, not replace it. Training and Development: Investing in your people pays off. Upskill your team to adapt to new tools or processes effectively. Building a Culture of Collaboration It’s not just about processes; people matter here. Creating a collaborative culture can be a game changer. Sharing ideas and promoting teamwork leads to better results. Here’s how you can foster cooperation: Regular Team Meetings: Keep the dialogue flowing. Weekly check-ins help everyone stay aligned. Celebrate Successes: Recognize achievements, no matter how small. It builds morale and a sense of belonging. Encourage Feedback: Create an open environment where team members feel comfortable sharing their thoughts. Tech-Driven Solutions for Enhanced Efficiency In today’s fast-paced landscape, leveraging the right technology can drive efficiency in shared services. But tech isn’t a magic wand. It needs to be chosen and implemented thoughtfully. Here are some recommendations: Invest in Digital Tools: Look for software that fits your team’s needs. Whether it’s CRM systems or project management tools, make sure they enhance productivity. Cloud Solutions: Using cloud platforms can facilitate remote access and teamwork, reducing bottlenecks in traditional workflows. Analytics and KPIs: Keep track of performance metrics to hone your operations continually. It’s all about refining your process over time. Challenges You Might Face Let’s not sugarcoat it; there will be challenges. Operating shared services in emerging markets can throw curveballs your way. Here are some of the more common hurdles: Language barriers can cause misunderstandings. Regulatory policies can change unexpectedly. Resource constraints may limit capabilities. Understanding these challenges will prepare you and your team to tackle them head-on. It’s the same as any business—you need a clear plan and execution strategy. Real Stories From the Field I remember working with a firm in Southeast Asia. They struggled with high turnover rates. After hearing from employees directly, we discovered that they felt left out of decision-making processes. It hit home—people were craving involvement. So, we revamped their approach, incorporating feedback loops. Value creation surged, and turnover plummeted. That’s what happens when you prioritize people and processes equally. The Path Forward At the end of the day, there’s a world of opportunity in navigating shared services in emerging markets. By focusing on process optimization and building a collaborative culture, you’re setting the stage for success. Just remember to keep things human. Adapt, learn, and grow together with your team. Want to dive deeper? Check out THEGBSEDGE, run by yours truly, Vikrant Aglawe. We delve into transformation, innovation, and leadership in the shared services space. If you found this discussion valuable, click to subscribe for more insights. Let’s continue to make waves in the shared services industry, together!

Ever sat down with your teams and thought, “How on earth can we better collaborate with our vendors?” It’s a real question, especially in the realm of shared services where partnerships can make or break your operational efficiencies. Let’s tackle this together. I’ve spent over 20 years in outsourcing and offshoring, and I’m here to share some down-and-dirty strategies on transforming vendor collaboration into a powerhouse for shared services success. Understanding the Landscape of Vendor Collaboration First, let’s get a grip on what vendor collaboration really looks like. Think of your vendors not just as external suppliers, but as extensions of your team. This mindset shift isn’t always easy, but it’s crucial. Strategies for Effective Collaboration Here are five strategies that have worked wonders for me: Build Trust: Trust is everything. Foster open communication. Share successes and failures. Make your vendors feel part of the family. Align Goals: Ensure both parties understand and align with the bigger picture. When your goals match, good things happen. Regular Check-ins: Don’t just meet during times of crisis. Schedule regular catch-ups. It’s all about maintaining the relationship. Feedback Mechanism: Encourage feedback. This isn’t just a one-way street. Make sure vendors feel comfortable providing insights. Celebrate Wins: When things go well, celebrate those victories together. It reinforces the partnership and boosts morale. Fostering a Collaborative Culture You can’t just throw a few meetings on the calendar and call it a day. Creating a culture of collaboration takes effort: It’s about creating an environment where everyone feels valued and heard. Investing in Technology In today’s tech-savvy world, collaboration tools are your best friends. Think beyond just emails and phone calls—use platforms that foster real-time collaboration. Here’s how: Shared Platforms: Tools like Trello or Asana can help keep everyone on the same page. Instant Communication: Slack or Microsoft Teams lets you have real conversations without the need for endless emails. Data Sharing: Use cloud storage for easy access to necessary documents, keeping everything transparent. An Example of Vendor Collaboration in Action Let’s talk about a real story—my time leading a massive shared service center for a global organization. We were struggling with a vendor who was consistently missing deadlines. Instead of placing blame, we brought them in for a candid conversation. You know what happened? We discovered they were facing some internal challenges we hadn’t even considered. By working through these together, we not only improved performance but deepened our relationship. Embrace Continuous Improvement Let’s be real—just because something works today doesn’t mean it’ll work tomorrow. Encourage a mindset of continuous improvement: Regularly revisit your processes. Don’t hesitate to adapt and change strategies that aren’t working. Involve your vendors in this process. Their insights can be invaluable. Leveraging Metrics to Drive Performance To truly transform vendor collaboration, metrics are your compass. What should you track? Service Level Agreements (SLAs): Are they being met? Response Times: How quickly are your vendors responding? Quality of Service: Is the work meeting your standards? By monitoring these metrics, you can identify gaps and areas for improvement, adjusting your collaboration strategy accordingly. Case Study: A Win-Win Collaboration I remember a project where our vendor helped us streamline our invoicing process. Instead of handling everything in-house, they proposed a shared solution. We implemented it, and guess what? We not only saved time and resources but also cut down processing errors significantly. It was a classic win-win. The Importance of Flexibility When it comes to vendor collaboration, rigidity is your enemy. Be open to new ideas from your vendors. Flexibility can lead to innovation—something every shared services team should be chasing. Driving Change Together You and your vendors are on this journey together. By fostering collaboration and working as partners, you’ll tackle challenges head-on. Here’s how to navigate the common roadblocks: Breaking down silos: Ensure your internal teams are communicating with your vendors. Addressing concerns openly: If issues arise, face them together. Proactive planning: Anticipate challenges, rather than waiting for them to happen. Conclusion Transforming vendor collaboration doesn’t happen overnight. It’s about cultivating relationships based on trust and mutual goals. Keep it real, keep it fresh, and keep the lines of communication wide open. If you’re looking to dive deeper into shared services transformation, check out THEGBSEDGE blog—it’s the go-to resource for insights on transformation, innovation, and leadership in the shared services landscape.

What is Predictive Analytics and Why Does It Matter? Let’s cut to the chase. We’re all trying to get ahead, right? In a world where time is money, how can we shape our decisions today to ensure smooth sailing tomorrow? Enter predictive analytics. It’s not just a buzzword thrown around in boardrooms. It’s a game-changer for process efficiency in shared services. With the right data, you can see trends before they explode, catch potential issues before they spiral, and optimize processes like a pro. Having two decades of experience in the weeds of shared services, I’ve seen firsthand how predictive analytics can turn chaos into clarity. So, let’s break this down: what exactly is predictive analytics? At its core, it’s about using historical data to predict future outcomes. Think of it as asking the crystal ball a question, but instead, you’re leveraging data and algorithms. It’s about making smarter choices for smoother processes. How Predictive Analytics Drives Shared Services Efficiency We’ve all had that moment where we wish we could foresee a setback. Imagine you’re managing a shared services center, juggling multiple tasks—finance, HR, IT. And suddenly, there’s a spike in invoice processing errors. What if, instead of reacting after the fact, you could’ve anticipated that spike and adjusted resources beforehand? That’s the magic of predictive analytics. Here are some specific ways it drives efficiency: – Resource Optimization: Allocate your team where they’ll have the most impact. – Risk Management: Identify potential roadblocks before they become real problems. – Enhanced Customer Experience: Predict demand spikes and adjust your strategies to meet client needs promptly. You’re not just reacting anymore; you’re taking charge. Every decision from streamlining processes to managing human resources can be backed by data, drawing from patterns and insights. Turning Data Into Actionable Insights Let’s chat about the nitty-gritty. How do we turn raw data into something that matters? 1. Identify Key Metrics: Figure out what data to watch. Is it cycle time, error rates, or customer satisfaction? 2. Utilize Analytics Tools: Use software that can pull these insights automatically. It’s like having a personal assistant who never sleeps—there’s a lot out there. 3. Create Dashboards: Make those metrics visual. Less guesswork means quicker decision-making. It’s much easier to take action when you can see the big picture—a shimmering clear chart instead of a jumble of numbers. Let’s say you start noticing a pattern showing customer complaints shooting up after service changes. Adjust your strategy before you get flooded with negative feedback. The agility that predictive analytics provides? That’s how you elevate your shared services game. Real-Life Implementations of Predictive Analytics Stories stick with us. Let’s look at a couple of real-world examples that illustrate how predictive analytics has transformed shared services. Example 1: The Call Center Paradox A large telecommunications firm was struggling with call wait times during high-demand periods. By analyzing historical call data, they pinpointed specific times of day when call surges occurred. They implemented a flexible workforce model where they brought in more agents during these peak times, optimizing both service quality and operational costs. The result? Dramatically reduced wait times and improved customer satisfaction scores. Example 2: The Procurement Revolution A global retailer was losing thousands due to supply chain disruptions. They decided to leverage predictive analytics by analyzing supplier performance and delivery times. The insights gathered led them to renegotiate contracts with underperforming suppliers and build stronger relationships with reliable ones. The impact was twofold: they reduced costs and improved delivery reliability, paving the way for superior process efficiency. These aren’t just isolated incidents; they’re examples of change through data. Predictive analytics gives you the tools to make lasting changes in your strategy. Embracing a Predictive Mindset in Shared Services Now, let me be real with you. Making predictive analytics work isn’t a walk in the park. It requires a mindset shift. The power of being proactive instead of reactive can be liberating, but it takes time and courage to step into this zone. Here’s how you can embrace this mindset: – Cultivate Data Literacy: Train your team to understand and interpret data. It’s crucial. – Encourage Experimentation: Not every prediction will hit the mark. Learn from misses as much as hits. – Foster Collaboration: Break down silos. Cross-department communication can unearth insights that you’re missing out on. Promoting a culture that values data-driven decision-making will amplify your process efficiency exponentially. Challenges in Harnessing Predictive Analytics Nothing worth having comes easy. There are hurdles. Here are some challenges to consider: – Quality of Data: Garbage in, garbage out. If your data isn’t clean, your predictions won’t be either. – Integration: Integrating predictive analytics tools with existing systems can be complex. – Cultural Resistance: Change can be uncomfortable. It’s on leaders to demonstrate the value of this shift. Addressing these challenges requires thoughtful strategy and steady resolve. But here’s the kicker: the benefits far outweigh the obstacles. Investing in the Right Tools and Resources So, what does a toolkit for predictive analytics look like in shared services? Tools are your best friends here. 1. Data Management Platforms: These tools help gather and clean data efficiently. 2. Analytics Software: Solutions like Tableau, Microsoft Power BI, and SAS are popular choices that bring your data to life. 3. Collaboration Tools: Ensure everyone is on the same page and share insights seamlessly. Consider platforms like Slack or Microsoft Teams to enhance communication. Invest in a combination of tools that align with your objectives. Think long-term—what will continue to support your journey toward process efficiency? Remember, technology is just a facilitator. The real magic happens when your team knows how to leverage it. Time to Step Up Your Game The reality is this: predictive analytics holds immense potential for shared services. But it requires commitment and a bit of bravery. It’s about unlearning the reactive habits we’ve developed and stepping into a world of proactive decision-making. So ask yourself: Are you ready to harness predictive analytics for superior process efficiency? If you want to dig deeper into the shared services domain, head over to THEGBSEDGE where you’ll find insightful content on

You ever feel like your to-do list is running your life? It’s a constant battle—urgent emails piling up, meetings that could’ve been emails, and tasks that seem to multiply overnight. You’ve got deadlines and responsibilities, but where do you even start? I totally get it. That’s where the Eisenhower Matrix swoops in like your superhero for productivity. Let’s break it down and see how it can transform the way you handle your daily grind. What Is the Eisenhower Matrix? The Eisenhower Matrix is like that lightbulb moment we all have when we realize there’s a better way to approach our responsibilities. Named after President Dwight D. Eisenhower, it divides your tasks into four boxes: Urgent and Important: Do these now. Important but Not Urgent: Schedule these for later. Urgent but Not Important: Delegate these if you can. Neither Urgent nor Important: Eliminate these. Pretty simple, right? But the magic happens when you start actually using it. Let’s chat about how to make this matrix work for you personally and in your shared services teams. Step 1: Identify Your Tasks First things first, gather all those scattered tasks floating around in your mind. Write them down. Yes, all of them. This could be reports you need to run, meetings, or processing invoices. Make a brain dump without overthinking. Trust me; it’s liberating. Picture it. You open your notebook or a note app and all those busy little thoughts just pour out. Ahhh, feels good, doesn’t it? Step 2: Analyze Each Task Now, put on your analytical hat. Go through each task and ask: Is this urgent? Is this important? Try to categorize them based on the Eisenhower Matrix’s four boxes. Keep an eye out for tasks that might feel urgent but aren’t all that important. You know the ones—like responding to a team email that can wait. Step 3: Take Action Here’s where you really start seeing results. Start with the urgent and important tasks. Knock them out. Get a sense of accomplishment knocking those bad boys off your list. Then, schedule your important but not urgent tasks in your calendar. That’s your time to shine. Schedule some blocks of time where you can focus on process optimization or dive deep into shared services transformation. Step 4: Delegate and Eliminate For the urgent but not important tasks, look around. Who can help? Maybe a team member can handle those repetitive emails while you focus on higher-level strategy. And finally, it’s time to chuck those neither urgent nor important tasks. Trust me, they’re just clutter. Those cat videos on the intranet that you’ve been watching? Yeah, they can wait. Why the Eisenhower Matrix Works Imagine sitting back at the end of the week, looking at all you’ve accomplished because you prioritized effectively. Feels pretty good, right? When you use techniques like the Eisenhower Matrix, you’re not only mastering priorities but also boosting your efficiency. This method isn’t just for those of us trying to climb the corporate ladder. It’s for anyone looking to optimize their workload—associates, process experts, you name it. When you streamline tasks, you make the whole shared services system work smoother. Real-Life Application: A Shared Services Perspective Let’s throw in a little storytelling for flavor. A few years back, I was working with a large organization’s shared services center. My team was bogged down with endless reporting and compliance checks. We gathered everyone, did a brain dump, and started sorting tasks using the Eisenhower Matrix. At first, it was chaotic—we were learning how to categorize our tasks effectively. But as we progressed, things transformed. Teams started communicating better about who was handling what. Urgent tasks got the attention they needed promptly, while meaningful strategy discussions flourished without the noise of unnecessary interruptions. The shift was impressive. Colleagues felt less stressed and more engaged. It was a clear win for everyone involved, boosting both morale and results. It reminded us of the power of prioritization and how a shift in mindset can lead to significant improvements. Mastering Your Schedule Now that you’ve got a grasp on the Eisenhower Matrix, let’s expand on mastering your day-to-day. Create time blocks in your calendar. Protect these slots fiercely. Keep a “no interruption” policy during those blocks—put your phone on silent, close email tabs, and focus. Boundaries are crucial. You need room to breathe and think strategically about your role in the shared services structure. Adapting the Matrix for Team Collaboration The Eisenhower Matrix isn’t just a tool for individuals; it’s also great for team collaboration. Here are a few ideas on applying it at a team level: Organize a weekly “task huddle” where everyone shares their tasks and categorizes them together. Use a shared digital board to visualize tasks in real-time—think Trello or Asana. Encourage team members to take ownership and prioritize their work without stepping on each other’s toes. When the team is aligned, it opens up new channels for efficiency. This not only leads to smoother operations but makes work a bit more enjoyable. Continuous Improvement Once you’ve got the hang of using the Eisenhower Matrix, it’s all about continuous improvement. Regular check-ins to assess what’s working and what’s not can make a huge difference. Ask yourself: What tasks drained most of my energy this week? Were there any tasks that didn’t belong in my ‘urgent’ box? By analyzing your productivity patterns, you’ll keep refining your approach to handling priorities. This can be a game changer in shared services, where efficiency truly defines success. Embracing the Change In a world where the urgency often masquerades as importance, letting go of tasks that don’t serve your goals is crucial. Hold onto the Eisenhower Matrix closely. Let it guide your way through the chaos of daily operations. It’s like having your own productivity coach at your disposal. Did it work wonders for my team? You bet it did. And it can do the same for you. Final Thoughts Now, before you head out and tackle your massive to-do list, remember this mantra:

When I look at the shared services landscape today, I ask myself, “Are we really equipped to tackle the evolving challenges?” We’re amidst a massive transformation in the shared services industry. Technological advancements, shifting consumer demands, and an ever-increasing competition landscape make it essential for teams to bridge the skills divide. The question isn’t if we need new skills, but how do we close that skills gap? Let’s unpack this. The Skills Gap: What Are We Up Against? First off, let’s be real. The skills gap is real, it’s palpable, and it’s growing. Here are some hurdles we face: Rapidly Changing Technology: The pace at which technology evolves can feel like trying to catch a speeding train. With automation, AI, and data analytics reshaping processes, us folks in shared services need to keep up. Evolving Roles: As automation takes over routine tasks, roles are changing. We need individuals who can not only manage these tools but also interpret the insights they provide. Talent Shortage: The reality is, there aren’t enough professionals with the right skills entering our field. Many graduates aren’t coming out with the competencies we need. Shaking your head in agreement? Let’s change that. Strategies to Bridge the Gap Now that we’ve identified the problems, let’s explore actionable strategies. What can you and your team do to thrive? Upskilling Existing Staff: Look at your current team. Are there hidden talents? Conduct skills assessments. Know who can pivot and adapt. Training Programs: Create tailored training methods that cater to specific needs. Mentorship Opportunities: Pair seasoned pros with newcomers. Heavy lifting can become light work when knowledge is shared. Innovative Recruiting: Redefine your recruitment process. Think outside the box: Soft Skills Matter: Look for adaptability, communication, and problem-solving capabilities. Sometimes, experience on paper isn’t the full picture. Diversity in Hiring: Everyone has a different perspective. Diverse teams lead to innovative solutions. Focus on Culture: Building a strong team culture attracts talent and retains the ones you have. Create an environment where everyone feels valued and able to contribute. Leverage Technology: Yes, technology is a double-edged sword, but use it to your advantage! Digital Tools: Implement tools that enhance collaboration and communication, like project management software or communication apps. Data-Driven Decisions: Use analytics to determine trends in employee performance and skill engagement. Invest in Continuous Learning: The learning doesn’t stop. Create a culture of ongoing training and improvement. Encourage your team to take ownership of their growth. Anecdotes That Inspire A while back, I worked with a large organization struggling with its transition to a shared services model. Process optimization was at the forefront of our mission. One of the biggest lessons I learned was during our training sessions when a junior associate turned into a process expert overnight simply because someone discovered her knack for data analysis. All we did was trust her instincts and offer a course on advanced analytics. That shift not only empowered her but also enhanced our overall team performance. It’s like I always say: “Sometimes the gold is lying in the dust; all it takes is the right brush to unearth it.” Collaboration Across Departments Now, here’s a game-changer: collaboration. In many organizations, teams work in silos, and shared services shouldn’t be an exception. Let’s break those down: Cross-Department Workshops: Host sessions with departments to share insights and knowledge. Knowledge Sharing: Create platforms where teams can share successful tactics, failures, and learnings. These approaches foster fluency in various processes and systems, benefiting everyone involved. I once saw a team blend their finance knowledge with tech insights, leading to groundbreaking process redesigns that saved us significant time and resources. Team synergy? It’s not just corporate jargon; it’s where innovation lives. The Power of Leadership in Bridging the Skills Divide Who’s steering the ship? Leadership plays a pivotal role in navigating the skills divide. The best leaders foster growth by: Being Approachable: Encourage open dialogue with your teams. They shouldn’t fear sharing ideas or challenges. Championing Learning: When leaders advocate for training, it sends a message that regular skill enhancement is crucial to growth. Recognizing Efforts: Celebrate wins, big or small. Recognition fuels motivation and builds morale. Recently, I led a session where we celebrated the completion of a challenging project. The atmosphere was electric; everyone felt appreciated and ready to tackle the next challenge. Measuring Success and Continuous Feedback After implementing these strategies, how do you know they are working? Measuring success might feel like navigating a maze, but it’s simpler than it looks. Set Clear KPIs: Establish performance indicators linked to your goals. Regular Feedback Loops: Create structures where feedback flows both ways. Adjust Tactics as Needed: If something’s not working, tweak it! Trial and error is part of the process. I remember the initial push for training left us thinking we were on the right path. But after a few weeks of feedback sessions, it became clear we needed to refocus on specific skills for the tech tools we adopted. This pivot helped elevate our performance significantly. Bringing It All Together As the stakes rise in the shared services arena, bridging the skills divide isn’t just a task—it’s a necessity for ensuring long-term success. Remember, it’s about continuous learning, collaboration, and the right mindset. We’ve got the tools. We’ve got the talent. Now, let’s match them together. If you’re looking for more insights on shared services transformation, you can find great reads at THEGBSEDGE blog. Let’s keep the conversation going. We can learn from each other!