The shared services or global in-house center (GIC) model has undergone significant change in recent years, evolving from low-cost service provider to change agent, and moving from largely an arbitrage play to innovator.
Societe Generale’s Global Solution Centre (SG GSC) is a success story example. The center has evolved over the past five years to become a strategic and value-adding partner for the global bank. Today, SG GSC has full delivery ownership and end-to-end accountability for the services delivered, with a clear focus on driving outcomes. As part of its transformation, SG GSC set up a dedicated innovation Center of Excellence to drive enterprise-wide digital transformation initiatives, leveraged the external innovation ecosystem (by collaborating with start-ups) to resolve enterprise challenges, and contributed to the bank’s top-line growth in new markets.