Global shared services have shown strong resilience during the COVID 19 pandemic

Organizations with large global shared services have responded quickly to COVID-19, by implementing many short-term fixes like enabling WFH. In fact, the largest untested business continuity plan (BCP) – WFH – is being tested successfully right now. 

These short-term fixes are now turning out to be long-term opportunities. The “new normal” has opened a new virtual world of possibilities. 

That is why I now see Global Shared Services transforming into Global Virtual Services.

What are the driving forces for these changes? 

There are many external forces pushing for new business models which, in turn, lead to many internal changes. As we know, business models are evolving into data-driven predictive models, which organizations are turning into an Internet of Things (IOT) strategy. Some companies are redefining an existing industry; some are creating new industries; and others are capturing an entirely different industry. These changes in the business model of parent organizations are driving lots of internal changes for Shared Services – be it the way processes are managed, or how people practices and technology are transforming:

(Process) Future of Work: Transactional Process are automated / robotized / eliminated /digitized, which means the current transactional work will be completely transformed and work will be managed by exception.

(People) Future of Workforce: Workforce will be more on demand, which means concepts like gig workforce, bot workforce, and temp workforce will become a dominant part of the workforce, enabling boundaryless hiring.

(Technology) Future of Workplace: Workplace will be connected, enabling collaboration through digital means. People can work from anywhere and anytime, driving virtual connections and conversations.

What will this change look like?

These changes will be felt across three different aspects of the enterprise.

First: How does this change in work look like?

• 70%-80% of the transactional work performed by large workforces will be automated and transformed
• The future of work will be managed by exception, and will be more analytical & data-driven 

Second: How does this change in workforce look like?

• New roles are emerging like data scientist, RPA specialist, or Innovation specialist. At senior executive levels we will see new roles like CDO (Chief Digital Officer), CIO (Chief Innovation Officer)   
• Organizational structures will be shifting from Pyramid to Diamond structures, making the base of the workforce lean.

There are two prominent future of work skills that all shared services will require:

• Dynamic skills: These are critical soft skills shared services will need to posses along with technical skills.
• Digital Skills: As the world is becoming more virtual and digital, these digital skills are critical to stay ahead and stay engaged.

Third: How does this change in workplace look like?

• Workplace will be built for more Digital Collaboration vs. Physical Collaboration
• Workplace will be more connected and enable innovation
• Workplace will have different work modes (onsite, hybrid and remote) for employees to operate   

Sudhir Dasamantharao will be giving a keynotes at SSON's

Future of Work & Digital Business Resiliency Summit - APAC, July 28-29, 2021

The Future of Shared Services: Virtual, Global, and Digitally Connected

In order to support businesses that are becoming more data-driven and predictive, Shared Services must adopt a new “virtual” model, which requires rethinking work, workforce, and workplace via process automation, innovative recruiting, and digital connectivity.

While that may seem intimidating, Sudhir Dasamantharao will introduce a change management methodology to guide the transition. 

This session explains Global Virtual Services while showcasing the application at Boston Scientific. No matter where you are on your journey, this keynote, led by a member of SSON’s Global Advisory Board, offers an exciting picture of what’s to come, and how to optimize the digital solutions at your disposal.

REGISTER NOW

Taking a closer look at Workplace

Workplaces are being redesigned to enhance collaboration and connectivity, and drive innovation.

BUILD A WORKPLACE shaped for Collaboration: As teams continue to work in different work modes, it is even more important to create a workplace that enables collaboration irrespective of where you operate from. Tools like desk reservation, workforce management, meeting management etc. … are very handy for employees to collaborate.

EXPAND THE Connect OF WORKPLACE: Connected workplace strategy is all about enabling teams to reach out to each other anytime and from anywhere. Flexible working need to combine a focus on outcome-based measurement vs. task management or productivity management.

Innovate the WORKPLACE for the DIGITAL FUTURE: Innovation is the key for future survival and success of any organization. Workplaces are being redesigned to add creativity and freedom of thinking. A culture of continuous Innovation is only possible when we design workplace ambience and incentivize people, however. That means redesigning workplace for more collaborators vs. desk space.

Workplace rationalization is very high on every organization’s agenda, as they reduce real-estate space, and savings from this are being diverted into investing in future talent and technology.  

How do Shared Services prepare for this change?

Shared Services can prepare by following the RACE model:

R (Resilience):  Building resilience for global shared services by focusing on enhanced risk management frameworks, data security and business continuity planning. Continuous upskilling and reskilling of the workforce. Looking at Buy / Build / Lend people strategy is critical in building a resilient GSS. 

A (Agility): Being agile to the changing needs of the business and enterprise strategies is crucial to global shared services value propositions. Since GSS is an integral part of parent organizations, GSS must build a culture of agility and be responsive to business needs. Be proactive rather than reactive. 

C (Collaboration): Building a culture of collaboration with all parties is crucial for transforming into the next level of shared services maturity. When you have a great collaborative culture, any transformation becomes relatively easy, because teams are looking for winning together vs. siloed success. A collaborative Global Shared Services organization enables business to grow beyond.

E (Excellence):  Driving excellence in innovation, service delivery and people capabilities is very critical to deliver meaningful value to the organization. An enhanced focus on a continuous value driven approach makes GSS the go-to organization for parent organizations – and business owners will be more willing to partner.

READ ALSO:

The Transformation of the Shared Services Model at Boston Scientific

About the Author:

Sudhir Dasamantharao is the Director & Head of Global Business Services APAC, at Boston Scientific. He is a global Executive with 20+ years of professional experience and expertise in Global Shared Services Operations, Transformation, Quality, Project Management, Change Management, Client Engagement, Business Strategy and Innovation across a variety of industries like Banking, Financial Services, Insurance, IT, Consulting and Manufacturing. He has established multiple shared services centers and led global teams in the Americas, LATEM, EMEA and APAC. 

Sudhir is a member of SSON’s Global Advisory Board, and is passionate about Innovation, Analytics, and Digital Transformation.