5 Examples of Innovation at SSOW London

Our SSOW London 2024 Event provided a platform for speakers across the shared service industry to share their knowledge and insight, particularly when it comes to new and exciting innovations being integrated into different business models and furthering positive business growth. In this summary, we look at 5 key examples of innovation that they have implemented into their own operating models. 

1.Traditional & Generative AI Integration

Transitioning from traditional AI tools to generative AI was a popular topic of discussion. Gen AI as a tool, can handle much more intuitive questions and answers, particularly within the finance function. AI as a tool is significantly more transformative than those before it as it completely changes how organizations interact with data. While many organizations already use traditional AI, some are now turning to Generative AI to automate ever- more complex activities. The session on ‘Empowering Finance with AI’ with Igna Donets, Modern Finance Corporate Champion, Microsoft, and Juan Stein, Global BPO and Governance Lead, Microsoft, showed us 5 ways to leverage AI to forward business innovation.

1. Embrace agility and consistent change. Adapting to a growth mindset allows for quicker reception to constant changes.
2. Enable continuous learning about AI in the center of excellence. Training non-technical personnel on AI use furthers the consistent utilization and collaboration of the tool.
3. Building the right data foundation. Providing rich data training, to assess specific data will aid in giving the tool even more precise information to work with.
4. Getting the processes right. Through consistent understanding and use, AI processes can be improved significantly over time.
5. Focus on AI integration as a priority in a business can also help the development of the use of the product within a business model.

2. Maintaining Passion and Balancing Priorities Within Your Team

Bringing people together in teams fosters a deeper understanding of the impact of their work, while continuously providing opportunities for career development to enhance workforce longevity. It is important as leaders to ask valuable questions such as ‘why are you doing what you’re doing?’ to provoke discussions about the greater purpose within the workplace. Additionally, putting trust into your team and removing micro-management tendencies allows teams to maintain passion for their work and flourish with more creative freedom in their roles. Cross-department collaboration should be considered as it breaks down siloes within a business, furthering excitement and passion within the workplace.  Teams can work better when they can prioritize their tasks fully, any obstacles to this goal should be improved by those in more senior positions.

3. The Importance of Smaller BPO Providers

During our session ‘The G6 BPO Debate’ with Sriram Panchapakesan, Chief Executive Office Sutherland, Jonathan Phillips, Head of UK & Europe EXL, Krishnan Raghunathan, Head of International Delivery and Finance and Accounting WNS and Chakradhar Gooty Agraharam, IOA Leader UKI and Global Automation Head Cognizant, smaller providers were brought up to be a new and innovative move forward in the development of business agility and innovation. This debate focused on how the panel’s Business Process Outsourcing (BPO) brought something different to the industry table. A smaller provider can be an asset to a Global Business Service (GBS) as, like the bigger BPOs, they have deep industry knowledge, but unlike their larger counterparts who can be siloed, smaller providers have more ‘horizontal’ capabilities allowing them to help clients across a range of industries with more agility and focus. The panel discussed how smaller providers can also adapt quickly to get in front of problems for clients. This allows for a more streamlined and flexible service.

4. Utilizing Behavioural Psychology in Collaborative Process Design

Collaboration in the process of identifying pain points within your company can be very useful when trying to curate innovation in your business. Utilizing workshops that promote collaboration and working with business partners to identify the challenges that create obstacles within the business, can further this goal. In our session with Bob Booth, CPSO from Basware, and Peter Sowrey, Former CPO from Centrica, the mention of bringing in behavioural psychologists to help those in leadership roles understand their stakeholders thoroughly demonstrated a great leap forward in putting more ample time into stakeholder engagement. These diverse perspectives can also help to leverage the collective knowledge of stakeholders, to achieve sustainable improvements within organizations.

5. Diversity and Inclusion as Innovation Drivers

The session ‘Leading from the Front to Make Vision a Reality’ with Lord Sebastian Coe, highlighted that diversity and inclusion needs to be demonstrated throughout the company and especially within leadership roles. Parts of the workforce from diverse backgrounds need to be made to feel that regardless of nationality, their voice and contribution to the company’s aims and goals are listened to and recognized. This stretches also to different linguistic abilities, which through inclusion and understanding can create a culturally savvy and forward-thinking workplace environment. In addition to this, implementing more gender inclusion as Lord Sebastian Coe suggested is key. Putting an ‘equal split’ gender-wise for leadership roles as part of a company’s constitution puts inclusion as a strict non-negotiable.

If you’re interested in hearing more from GBS experts don’t forget to register for our flagship European event here: https://www.ssonetwork.com/events-ssoweek