How GBS is Evolving from Digitized Business Services to Intelligent Business Services
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In the rapidly evolving landscape of business services, companies are continually exploring strategies to achieve their objectives. From labor arbitrage and revenue enablement to cost reduction and return on investment (ROI), organizations are leveraging various approaches. However, as the business environment advances, there becomes more and more of a need to go beyond the digitized realm and embrace the era of intelligent business services. This shift requires GBS professionals to question how they can continually evolve Global Business Services (GBS) to deliver these benefits and move towards intelligent operations. By examining the opportunities and challenges associated with this evolution, we can uncover the key factors driving the transition from digitized business services to intelligent business services.
What is the Solution?
Like it has been for years, the market is still evolving. However, some would argue that it is evolving more now than ever before due to all of the recent advances in technology and business transformations needs to be able to compete in this era. Furthermore, there are multiple situations that contribute to this change. While some of these circumstances can lead to positive change, others can make it even more difficult for companies to know what the best decision to make is.
An approach that can assist GBS organizations facing challenges in making such decisions is the utilization of mining and modeling techniques applying it into analytics. Mining and modeling are able to provide accurate information to merge the transactional data with the business intelligence trend, thus providing valuable perspectives to promote improved comprehension of both internal operations within the organization and establishing innovative approaches, optimizing more accurate predictions, to assist the CFO or COO in achieving optimal outcomes and aligned the vision of the business.
How is this done?
Clearly, it is a growing strategy to turn more GBS organizations into intelligent business services. However, some may have some struggles understanding just how to effectively merge transactional results and business intelligence data. Tools such as process and data mining help organizations to uncover insights, improve operational efficiency, robust analytics and trends for all areas in the company, facilitating better informed decisions to align the business partners and branch to get on the same path towards a developed intelligence business service.
Process and data mining can be done utilizing the following steps:
- Data collection
- Data preprocessing
- Process mining
- Data mining
- Visualization and reporting
- Analytics
- Action and optimization
- Data Forecasting (Trends)
These principles will help you to have global processes that are supported by the GPO and product /customer centric structures. It will ensure consistency and efficiency across the organization and set the foundation for an intelligent digital transformation within GBS.
What Next?
Having gained a comprehensive grasp of the significance surrounding process, data mining, modeling, and analytics, you have now unlocked the key to initiating the transformation of your digitized business service into an intelligent business service. This will enable you to fully appreciate the criticality of fostering seamless collaboration between the operational model (service delivery) and the business intelligence (BI) departments.
The BI departments have a crucial role in analyzing and utilizing data to enhance GBS. Once this collaboration is in place, you can then determine the specific way in which your current operating model and the business intelligence departments interact to strengthen data quality.
This will enable you to identify opportunities to improve internal spending, make informed investments, define strategies for sales, analyze and determine through effort estimation and ROI (Return of investment) cost saving opportunities and prioritize areas of improvement within the process. The BI departments will employ various methodologies to identify optimization strategies and guide the decision-making process.
Examples
First and foremost, it is important to ensure that the mapping of processes and creation of databases are solid. One way that companies can ensure this is by using methodologies like Crisp-DM and KDD, and adopting BPMN 2.0. The centralized transactional and reporting activities of GBS provide valuable insights and ensure consistent data collection. This allows for faster analysis and the generation of financial figures and trends. The CFO receives solid support for planning and controlling through these standardized processes.
Conclusion
Now that you understand the general importance of how to change your GBS from a digitized business service to an intelligence business service and all of the benefits that come with it, let's summarize what we learned.
- Apply the use of mining and modeling to optimize your current process to evolve from manual to digital, adding the analytical piece to allow the creation of trends for different models.
- Determine scope of Big Data and create a map that allows you to have stages of maturity to transform, optimize processes to become digital, and create trends by themselves with applications of AI (incremental and intuitive) that will contribute the entire organization to achieve optimal outcomes and robust the finance strategy.
- Define processes and strategies
- Service delivery
- Mining and Modelling
- Identified digitized processes that can leverage data to create trends
- Create synergy from your insights and forecast with the business goals
- Innovate the vision with forecasts and trends for multiple departments thru data analytics
In conclusion, as you explore the transition from digitized to intelligent business services, incorporating mining and modeling techniques, process transformation and analytics between your operational models and business intelligence will empower you to optimize predictions, make informed decisions, and enhance efficiency in your organization.
