Tag: GBS

Why GBS Change Management is the Key to Added Value and ROI | Webinar

ON-DEMAND WEBINAR

Why GBS Change Management is the Key to Added Value and ROI

Change management is a work in progress for most Global Business Services (GBS) organizations. For stakeholders and users alike, the learning curve that follows the move to a GBS platform can be substantial. With GBS comes a vast array of changes in the way the enterprise works – from processes and policies to technology and relationships.

Successful GBS change management is a continuous endeavor and, when managed as part of everything the organization does, can deliver a significant return on investment and bring added value.

In this webinar, Everest Group experts will uncover effective change management practices. At the center of the discussion lies first-of-its-kind research on 60 leading GBS organizations across the globe, conducted by Everest Group and Sourcing Change.

Our experts will explore:

  • Why GBS change management is still a work in progress for most organizations
  • Challenges and best practices to enabling and accelerating success in change management
  • Prevailing change management personas
  • Examples of successful change management initiatives
  • The 12 keys to success

Who should attend?

  • GBS/SSO leaders
  • GBS strategy leaders
  • Transformation and transition  leaders
  • Technology leaders

GBS Change Management Strategies: Lessons Learned from 60 Leading GBS Organizations | Blog

Change management is viewed as critical by 75% of GBS organizations, but only 16% manage change as an essential component of GBS initiatives, a new Everest Group study found. Read on to learn best practices and key findings from this first-of-its-kind change management research.

Insights can also be found in our webinar, Why GBS Change Management is the Key to Added Value and ROI, as Everest Group experts discuss effective change management practices gathered from the research.

Change management is essential for any Global Business Services (GBS) organization, yet it is also one of the more challenging feats to grasp and implement. Change for GBS is a constant occurrence, whether it’s new technology adoption, stakeholder gains and losses, or evolving roles within the enterprise.

Strategic and systematic change management gives GBS organizations more control over transformation projects of all sizes. It allows for adaptation and the opportunity to discover where more value and return on investment can be found.

In this first-of-its-kind research, Everest Group surveyed 60 leading GBS organizations across the globe and conducted in-depth interviews to better understand change management strategies within GBS organizations. The results of this study are in our report, State of Play in GBS Change Management, which provides an analysis on what GBS organizations across the globe are doing today and the steps to achieve an end-to-end change management model.

How do GBS organizations carry out change management strategies today?

From the study, we discovered that one-third of the respondents don’t have a change management model in place; however, 75% of GBS organizations see change management as critical. Watch our latest LinkedIn Live Conversations with Leaders series based on this research where GBS experts from various organizations joined our analysts to define effective change management.

Currently, change management is not part of the strategic GBS design. GBS organizations typically wait for a transition or change that needs to be communicated, and then react and invest in change management at some level rather than proactively setting up processes.

In many cases, change management is deployed within transformation projects, with roles often divvied up between a mix of sourced and in-house staff rather than being adopted from the top and then applied throughout the organization. Organizations need a thorough method to test change management from project to project, and then alter or build on it to make the model more efficient.

Where does change management show up the most?

The research showed that larger, older GBS organizations tend to invest more substantially and systematically in change management. Mature global organizations with greater scope and evolved delivery operations are more likely to prioritize change management, include it in planning stages, and have more dedicated responsibilities and capabilities.

The study revealed that most change management is embedded in projects that revolve around digital transformation efforts, such as transitioning to a new delivery model or moving to end-to-end processes. GBS organizations that embrace digitization at greater rates tend to realize the importance of change management. Seventy percent of organizations that are moving to digital are also advancing their change management approaches.

Geographically, 40% of GBS organizations in Europe view change management as having more of a strategic role in transformation, compared to 30% in North America. By segment, banking financial services (BFS) and life sciences GBS organizations incorporate change management in business transformation. However, consumer packaged goods (CPG) and 75% of manufacturing GBS organizations still consider it a communications function.

How can GBS organizations address change management?

Moving to a GBS platform creates substantial change and can impact processes, policies, technology, and even relationships. Based on our research, we recommend the following five best practices for GBS organizations to map and evolve their change management models:

Embed it from the start: One of the most significant takeaways for successful change management implementation is adding it into processes from the start and making it part of everything a GBS organization does. This helps to define roles, structure the roadmap, and determine how to measure project outcomes.

It doesn’t stop: Change management is not a one-time instance. For a strategy to garner real value and incorporate lessons learned, change management should be considered an ongoing journey for the organization and its employees. A change management framework must be consistent and tailored to the enterprise.

All hands on deck: When managed at or near the top of the organization, change management becomes a higher priority that is consistent across all change management projects. A top-down management strategy with buy-in from internal GBS teams helps to embed change management into the entire organization and negate any resistance from teams. Almost 50% of respondents said getting the internal team on board was a critical success factor.

Invest in roles and careers: GBS organizations must consider whether involving contractors or those in outsourcing roles will ultimately help or hurt the process. Cross-training and rotating team members through a change process is a very effective way to get the right team in place and break down internal resistance. To instill a regular change management model, GBS can set up a fixed set of roles that serve as pillars and variable roles for when the function has shifted. Further, to attract and retain these talent resources, establishing career paths so talent will see a future in the role and stay with the organization is essential.

Change is more than communication: GBS organizations also should understand that the buck doesn’t stop at communicating change to the enterprise. Communication is a necessary and important step, but it’s just a piece of a comprehensive change management strategy.

Where is your GBS organization on its change management journey?

To begin the change management journey, it’s important for organizations to know their starting point. From the interview responses, we identified the following four personas to set GBS organizations on the right path as they structure their change management strategy:

  • Headshakers are yet to establish any change management competency
  • Crawlers are slowly moving in the right direction
  • Game changers view change management as a necessity and are aggressively pursuing it
  • Institutionalists firmly believe in and have invested in a GBS change management program

What’s the impact of change management?

GBS organizations that don’t have a change management model, or are reactively deploying change management, could ultimately lose money and incur costs when projects are delayed or benefits are realized slower.

GBS organizations must go beyond merely communicating change to developing a managed program that considers stakeholders, capabilities, and the full impact from strategy to execution. Change management should be regarded as an investment with a clear ROI.

GBS organizations are successful based on how they respond to their stakeholders, and effective change management allows GBS to meet the enterprise at any turn.

To view our change management persona diagram and determine where you are on the change management journey, and learn the 12 steps to develop a dedicated program, download the full report: State of Play in GBS Change Management.

To discuss change management strategies further or ask questions, reach out to Rohitashwa Aggarwal at [email protected]. And don’t miss our upcoming webinar, Why GBS Change Management is the Key to Added Value and ROI, for direct insights from this study into change management strategies from GBS practitioners.

Key Issues for 2023: Rise Above Economic Uncertainty and Succeed | Webinar

LIVE WEBINAR

Key Issues for 2023: Rise Above Economic Uncertainty and Succeed

As we look toward 2023, economic uncertainty is prime and center. Rising inflation, interest rate hikes, and GDP contraction – matched with low unemployment rates and high talent demand – have left business leaders unsure of what to expect and how to prepare for 2023.

Join Everest Group’s Key Issues 2023 webinar as our experts provide insights into the outlook of the global IT-BP industry and discuss major concerns, expectations, and key trends expected to amplify in 2023.

All the data is based on input from global leaders across enterprises, Global Business Services (GBS), and service providers.

Our speakers will discuss expectations for 2023, including:

  • The outlook for global services
  • Top business challenges and priorities
  • Changes in sourcing spend and service delivery costs
  • In-demand digital services and next-generation capabilities
  • The evolving strategy for talent, locations, and the workplace

Who should attend?

  • CIOs, CDOs, CTOs, CFOs, CPOs
  • Service providers
  • GBS / Shared services center heads
  • Global services leaders
  • Locations heads

GBS Leadership Exchange : The Evolving Role of GBS Organizations in Driving Enterprise-wide Adoption of Intelligent Automation

GBS LEADERSHIP EXCHANGE: INVITATION ONLY EVENT

The Evolving Role of GBS Organizations in Driving Enterprise-wide Adoption of Intelligent Automation

December 1, 2022 |
8:30 AM EST | 7 PM IST

In the last few years, many Global Business Service (GBS) centers have scaled up the adoption of Intelligent Automation (IA) and are now playing a key role in the overall enterprise automation adoption journey. The challenge now lies in decoding the technologies, talent and governance models, and IA architecture for the next wave of automation-led benefits for the enterprise.

Join this virtual roundtable as our experts and your peers explore IA adoption trends and how IA will play a role in the future outlook for GBS organizations.

What you will take away:

This collaborative session will provide you with new insights from our experts and the participants as you exchange perspectives on IA adoption and best practices, including:

  • How are other GBS leaders preparing their IA strategies, and what are their primary focus areas?
  • What are the top challenges?
  • What is missing from the current operating model?
  • What are best-in-class GBS organizations doing to find success?

Who should attend?

  • Automation CoE leaders
  • GBS CXOs and VPs
  • GBS/GIC/GCC site leaders
  • GBS/GIC/GCC strategy leaders

Virtual Roundtable Guidelines

The only price of admission is participation. Attendees should be prepared to share their experiences and be willing to engage in discourse.

Participation is limited to enterprise leaders (no service providers). Everest Group will approve each attendance request to ensure an appropriate group size and mix of participants. The sessions are 90 minutes in duration and include introductions, a short presentation, and a facilitated discussion.

Partner
Bharath M
Samikshya Meher

New Everest Group Research on Change Management Reveals the Huge Chasm Between ‘We Should’ and ‘We Do’ in Global Business Services Centers

Change management viewed as critical by 75% of GBS organizations, but only 16% manage change systemically; Everest Group offers practical 12-step guide to help GBS organizations approach, staff, invest in, and manage change.

 

DALLAS, November 30, 2022 — When enterprises establish a Global Business Services (GBS) center, the mission of the center is to make and sustain a positive change in business operations; however, despite the fact that change is their raison d’être, one-third of GBS organizations have no change management capability within their organization, according to new research from Everest Group.

In a first-of-its-kind study, Everest Group surveyed 58 leading GBS organizations across the globe, followed by in-depth interviews, to better understand their approaches to change management.

“Our study findings indicate that 75% of GBS organizations see change management as critical, overwhelmingly confirming that it is vital to the success of the model, but this does not align with actual execution, as only 16% of these organizations take a systemic approach to managing change across their scope of initiatives,” said Deborah Kops, executive advisor to Everest Group and a co-author of the report.

“Change management is a work in progress for most GBS organizations and poses significant challenges: there is no one-size-fits-all solution; it’s not a once-and-done task; and it’s difficult to define ‘good’ and ‘best’ when so much of what comprises change management is perceived as ‘soft stuff’—unmeasurable and therefore unknowable,” explained Kops. “This research aims to address these challenges head on by defining the dimensions of change management for GBS organizations to help the industry understand how to approach, staff, invest in and manage change.”

 

Selected Observations

  • Strategic or Situational?: Only 16% of respondents manage change as a critical component of GBS initiatives, or what we would consider systemic across all aspects of GBS operations. The normative view of change management is that it is situational, triggered by an event.
  • Biggest Catalyst is Change in Operations: Today, GBS change management at its most evolved is focused on changes in operations, such as a transition to a new delivery model, or to ease the pain of a transformation project, such as digitization.
  • A Tool to Diminish Resistance: Change management approaches have been focused primarily on informing and breaking down resistance as opposed to helping enterprises adopt and embrace the changes that an agile GBS model continually makes. Over 50% of respondents see change management a tool to “tell” or diminish resistance to a GBS program.
  • Maturity and Scale Matters: Maturity and scale of the GBS organization impacts the approach to change management: 45% of GBS organizations with large scale (5,000+ FTEs) tend to approach change management as a strategic transformational tool while the majority of smaller organizations (with a scale of 100-999 FTEs) tend to focus on communications and diminishing resistance to change.
  • Digital Maturity Correlates with Strategic Change Management Approaches: There is a discernable shift from communications to a more strategic approach as respondent organizations mature their digital operations. Over 70% of those GBS organizations embracing digital initiatives focus their change approaches on strategic transformation.

 

These findings and more are detailed in Everest Group’s recently published report, “State of Play in GBS Change Management.”

 

In addition to the findings above, the report explores these key questions:

  • What is the right time to involve GBS change management teams?
  • Do change management approaches foster real change?
  • Is the GBS change management operating model aligned with imperative?
  • To whom does the GBS change management team report? Do they have a seat at the table?
  • How do GBS organizations measure the success of change management initiatives?
  • What are the key priorities for GBS change management teams?
  • What is the scope of responsibilities of GBS change management teams?
  • What is the preferred approach to build change management competency?
  • What is the normative size and skills mix for the change management team?
  • How are change management teams governed?
  • What is the formula to fund change management?
  • How do GBS organizations measure the impact of change management teams?

 

Examining the responses to these questions, Everest Group was able to identify patterns that define four personas, ranging from organizations who have not yet prioritized an investment in change management (“Headshakers”) to those that embed it into all aspects of GBS operations (“Institutionalists”). Falling in between are “Crawlers”—who are gradually moving toward establishing a GBS change management competency— and “Game Changers,” organizations who see change management as necessary and are aggressively establishing it as a strategic capability.

Everest Group has also used the findings of this research to develop a 12-step program to help GBS organizations advance along the persona continuum and “do change management well.”

“One of the most surprising findings of our research was to see how common it was for GBS organizations to take a piecemeal approach to change management rather than developing it and strengthening it as a strategic muscle that is always in use,” said Rohitashwa Aggarwal, vice president at Everest Group. “Our research findings clearly indicate that ideally the change management team will have a seat at the leadership table from the outset of the GBS journey. The team also needs systemic funding, the scope and authority to succeed, and the right talent and training to adapt to all the needs of the GBS organization over time, because, as we’ve said, change is at the very heart of the GBS mission, every day, all the time.”

 

***Download a complimentary abstract of “State of Play in GBS Change Management”***

 

About Everest Group
Everest Group is a research firm focused on strategic IT, business services, engineering services, and sourcing. Our research also covers the technologies that power those processes and functions and the related talent trends and strategies. Our clients include leading global companies, service and technology providers, and investors. Clients use our services to guide their journeys to maximize operational and financial performance, transform experiences, and realize high-impact business outcomes. Details and in-depth content are available at www.everestgrp.com.

Conversations with Leaders – Episode 4 | LinkedIn Live

LinkedIn LIVE

Conversations with Leaders | Episode 4

View the event on LinkedIn, which was delivered live on Wednesday, November 16, 2022.

Moving to a GBS Platform: The Need for Continuous Change Management

Change management is a work in progress for most Global Business Services (GBS) organizations. The learning curve that follows the move to a GBS platform can be substantial, impacting everything from processes and policies to technology and relationships. But it doesn’t end there. Change management in GBS organizations should be a continuous endeavor.

In this LinkedIn Live, GBS experts from various organizations will join Everest Group’s analysts to redefine effective change management. At the center of the discussion lies first-of-its-kind research on 60 leading GBS organizations across the globe, conducted by Everest Group and Sourcing Change.

Our speakers will explore:

  • Challenges in and best practices to enabling and accelerating success in change management
  • Current and future focus areas in change management
  • Examples of successful/unsuccessful initiatives
  • Direct insights into change management from GBS practitioners

Unlock a New Source of Value Creation – Integrate Sustainability into the GBS Charter to Help BFS Firms Realize Their ESG Goals | Blog

Global Business Services (GBS) organizations have a big opportunity to champion Environment, Social, and Governance (ESG) in banking and financial services (BFS) institutions. To learn about six ways GBS organizations can help enterprises reach their ESG goals and unlock greater value, read on.

ESG is creating new opportunities for BFS Global Business Services organizations. Fast-evolving consumer awareness about social, political, and environmental values, emerging regulations, and increased demand for sustainable financial products are pressuring BFS firms to prioritize ESG goals in operations and employment.

Let’s explore the significant role GBS units can play in enabling ESG for enterprises.

ESG products and services emerge

To meet new customer and investor expectations along with regulatory mandates, BFS organizations are building ESG products and services – such as green loans, sustainability-linked loans, and carbon-neutral banking – to make their operations sustainable.

Capital market firms are embracing green underwriting, while asset and wealth managers are steadily moving toward ESG investing. These organizations are also focusing on workplace diversity, pay equity, and good governance structure to meet their ESG aspirations.

This has created a big opportunity for GBS organizations to move from being measured for their labor arbitrage and cost efficiency to the value they can deliver to enterprises. These units can become vital to the enterprise’s ESG agenda by expanding their sustainable service offerings and conducting ESG-specific due diligence and risk assessment. GBS centers’ strong visibility across the enterprise’s functions, operations, and capabilities to support their ESG initiatives will drive this new focus.

Six ways GBS organizations can support enterprise ESG goals and commitments

As BFS organizations increasingly look for ways to support and grow their businesses with an impact-driven mindset, GBS organizations should be at the forefront of defining and internalizing ESG goals.

The new environment has opened up many avenues for GBS organizations to maximize the value they can deliver and become ESG enablers for their enterprises. For a deep dive into the opportunities summarized below, please read our newly released research.

See how GBS organizations can promote ESG initiatives within the enterprise in the image below.

Picture1 5

GBS organizations can enable the following key opportunities for BFS firms:

  • Enhance sustainable investing practices – Support enterprise banks by running/enhancing sustainable investment initiatives, such as portfolio optimization and expansion, and positive and negative screening of these portfolios
  • Develop new sustainable products – Identify feasible opportunities to expand the green product portfolio for their respective enterprises following the regulatory and competitive landscape
  • Proactive ESG risk monitoring – Build on their roles in supporting enterprises in managing various risk types such as liquidity, credit, and operational so GBS can be leveraged as specialist ESG risk management centers by enterprises
  • ESG performance tracking and reporting – Set up dedicated ESG performance reporting teams at GBS centers, which, in turn, will own the management and execution of ESG performance tracking and reporting tasks
  • ESG compliance reporting – Track ESG-specific regulatory developments across different countries where the enterprise has an operational footprint. Accordingly, it can assess the impact of newly introduced mandates or disclosures requirements on the enterprise’s existing compliance processes
  • Implement ESG commitments of the enterprise – Undertake sustainability initiatives to integrate the ESG goals of the enterprise across its own operations, people, and functions. For example, a leading US investment bank committed to incorporating sustainability-focused features such as energy-efficient lighting and minimized water consumption policies in its new technology base in Poland. Similarly, a major European bank’s GBS center has been working since 2009 on a Train Green Program aimed at creating sustainability awareness among school children

Call to action for BFS GBS leaders

As GBS organizations take on more strategic roles, it becomes imperative for them to step up and become ESG enablers for their enterprises. To do this, GBS leadership must champion the development of ESG-specific capabilities and prioritize initiatives to drive enterprises’ ESG agendas, while embedding ESG and sustainability practices into their service delivery and operations.

To discuss how we can assist your enterprise with achieving your ESG goals, reach out to Sakshi Garg [email protected], Piyush Dubey [email protected], and Mohini Jindal [email protected].

Discover more about how to integrate sustainability and ESG initiatives into your organization in our upcoming webinar, Driving Larger-scale Adoption of Impact Sourcing from the Inside Out.

Outsourcing Services Pricing: What to Expect Next | Webinar

ON-DEMAND WEBINAR

Outsourcing Services Pricing: What to Expect Next

2022 has proven to be a constantly shifting and unpredictable year for outsourcing services. The first half witnessed an unprecedented demand surge accompanied by cost and price inflation, and the second half saw a slowdown in client decision-making with fears of a recession.

In this webinar, Everest Group’s pricing experts will analyze the trends observed this year and deliver the pricing outlook for IT and BPO services in 2023.

Our speakers will discuss:

  • How the outsourcing services demand has evolved in 2022
  • What the most successfully negotiated clauses have been in recent deals
  • How the pricing of IT and BPO services has changed
  • What the future outlook for pricing will be

Who should attend?

  • CIOs, CTOs, and CDOs
  • IT and BPO department leaders
  • SVMOs
  • CPOs
  • Strategic sourcing leaders
  • Category managers
  • Supplier management leaders
  • Vendor managers
Rahul Gehani Bio Picture V1 2021 03 26
Partner
Gupta Prateek Refresh gray square 1
Vice President
Sharma Abhishek Refresh gray square
Partner
Verma Kunal Refresh gray square
Practice Director

GBS Leadership Exchange: The Most Effective Strategies to Address the Future of Work | Virtual Roundtable

GBS Leadership Exchange: Invitation Only Event

The Most Effective Strategies to Address the Future of Work

November 10, 2022 |
8:30 AM EST | 7 PM IST

Like most GBS organizations, you’ve probably been thinking about how to ensure your workforce strategy includes the relevant skills and capabilities required to meet evolving business needs. As the future of work changes, GBS organizations must plan now to avoid lagging behind.

Join this virtual roundtable as Rajesh Ranjan, Partner, and Rohitashwa Aggarwal, Vice President, discuss what a future work strategy entails and the various approaches to plan and prepare. They will also explore success stories from best-in-class GBS organizations to uncover what’s currently working. 

What you will take away:

In this collaborative session, you’ll come away with new insights from our experts and your peers as you exchange perspectives on key priorities for the future of work, such as: 

  • How are other GBS leaders preparing their future work strategies, and what are their primary focus areas?
  • What are the top challenges and unknown areas when planning for the future of work?
  • What is missing from current work model strategies?
  • What are best-in-class GBS organizations doing to find success?

Who should attend?

  • GBS CXOs and VPs
  • GBS CHROs
  • GBS Human resources leaders
  • Enterprise workforce strategy leaders
  • GBS/GIC/GCC workforce strategy leaders
  • GBS/GIC/GCC strategy leaders

Virtual Roundtable Guidelines

This event is available to our GBS Leadership Exchange members only. The only price of admission is participation. Attendees should be prepared to share their experiences and be willing to engage in discourse.

Participation is limited to enterprises (no service providers), and Everest Group must approve each attendance request to ensure an appropriate size and mix of participants. The sessions are 90 minutes in duration and include introductions, a short presentation, and a facilitated discussion.

Aggarwal Rohitashwa gray square
Rohitashwa Aggarwal
Vice President
Ranjan Rajesh Refresh gray square
Rajesh Ranjan
Partner

How to Unlock the Full Value of Cloud | Webinar

ON-DEMAND WEBINAR

How to Unlock the Full Value of Cloud

Access the on-demand webinar, delivered live on November 8, 2022.

The need for superior speed, agility, resiliency, and product innovation continues to push enterprises to adopt cloud solutions. To optimize their use of cloud and maximize benefits, enterprises are increasingly pushing industry-specific workloads to cloud to realize user experience and growth benefits.

In this webinar, our experts will discuss how enterprises can measure the value of cloud, the challenges enterprises face in realizing its benefits, and how to unlock its full potential to maximize efficiency.

What questions will the webinar answer for the participants?
• How are organizations measuring value from their cloud investments?
• What are some of the practices adopted by best-in-class organizations to realize value of cloud?
• What are the best strategies for deriving value from the cloud?

Who should attend?
• CIOs, CTOs, and CDOs
• IT and BPO department heads
• Sourcing leaders
• Strategy leaders
• GBS Leaders managing IT and BPO outsourcing contracts

Sundrani Ricky
Vice President
Ranjan Mukesh Refresh gray square 1
Vice President

Request a briefing with our experts to discuss the 2022 key issues presented in our 12 days of insights.

Request a briefing with our experts to discuss our 2022 key issues

How can we engage?

Please let us know how we can help you on your journey.

Contact Us

"*" indicates required fields

Please review our Privacy Notice and check the box below to consent to the use of Personal Data that you provide.
Consent*