SSON Predicts the Future of GBS in 2024

It’s that time of year again! Schools are letting out for winter break, employees are taking the last of their PTO, and GBS leaders are up at night wondering what new technology or trend will force them to rethink their model in the next year. Although we don’t possess a crystal ball at SSON, our team of producers, sales representatives, and editors are constantly in the field speaking with the top minds in shared services, trying to understand what current challenges are shaping the industry and what solutions are being presented.

In this article, the SSON production and editorial team have put together their predictions for GBS in 2024. Have a prediction you feel should be included? Let us know in the comments below or email info@ssonetwork.com. Now, for your yearly forecast.

James Savery - Head of Business Development & Global Partnerships

Gen AI: 2023 was the year of fact finding, understanding what and how we can leverage generative AI for the business, and see firsthand some of the tools out there pushing the envelope on this new frontier. 2024 is the year of action with generative AI, as many executives are earmarking budget to now invest in these solutions across their Shared Services and GBS centers. 

Barbara Hodge - Global Editor and Principal Analyst

I predict a continued build-up of GBS capabilities and value-add, with highly skilled core teams focused on problem-solving. This will be possible because automation will take care of business-as-usual once we’ve cracked exception handling through generative AI. Problem-solving is already the #1 skill in demand across the globe and presages a more proactive approach to risk mitigation and service continuity. 

Sally Fletcher - Head of SSON Digital

Shared services will become known as the brains of the organizations (rather than just the arms). With AI tools becoming cheaper and more widely utilized, shared services will be better able to collect, analyze and showcase data that can aid in decision making and propel the business forward. They will become seen as a hub for the best skills and experience in areas such as process improvement and digital transformation and be the function the rest of the business comes to for advice and creative thinking.   

Anil Persuad - Head of Business Development & Strategic Partnerships

In 2024, we will see the continued integration of AI in talent management. Recruiters are struggling to find talented, skilled workers for the roles they need to fill, which makes me believe they will be among the first wave of workers to have generative AI implemented in their work lives. We already know ChatGPT can help with writing job descriptions and summarizing resumes, so it will be interesting to see what other ways recruiters leverage it in their work lives. 

Lisa Schulman - Executive Producer & Senior Market Analyst

Shared services are pivoting to support the growth of the organization. Executives will be focusing on navigating GBS trends to drive business growth and transformation. There will be a strong focus on identifying opportunities for new services that can drive value to the business. 

Evan Beebe - Editor

In 2024, we are going to see GBS expand its focus on sustainability initiatives as a means to driving even more value for the organization. In Europe, businesses are already required to follow sustainability reporting guidelines, and this trend could spread beyond the EU. If so, GBS can be in a unique position to take on these ESG requirements and add yet another service to its arsenal.