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The Golden Path: How Indian Finance COEs are Transforming Global Business Services 

Zinnov

Market volatility, uncertainty, complexity, and ambiguity are some of the factors forcing SSCs to pivot their business models to buffer them from future shocks. These challenges include understanding value that can be extracted from these centers, measured in tangible metrics that align with business objectives.

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‘Do More with Less’ Will Be Driving Force for Enterprises in 2024 — Everest Group

Everest Group

The Global IT-BP Services Industry Will Continue to Grow and Shift A vast majority of enterprises (82%) expect their global services budgets either to remain flat (39%) or increase in 2024 (43%). Further, enterprises expect to increase the leverage of Global Business Services and offshore locations.

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Building Global Centers of Excellence (CoEs) in GBS Organizations to Drive the CEO Agenda

Everest Group

The Global Business Services (GBS) market has witnessed improvement in performance, enhancements in role, and growth across verticals and functions over the years. Talent CoE: The talent CoE develops the strategic services, capabilities, and best practices for staffing, e-learning, and employee onboarding.

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Everest Group Survey Points to a Resilient Year for Outsourcing in 2023 as Global Enterprises Prioritize Cost Savings, Talent Management

Everest Group

In fact, more than 80% of respondents expect their investments in outsourcing for IT services (ITS) and business process services (BPS) to stay the same or increase in 2023 over 2022, and more than 40% are optimistic about growth in their global services budgets in the coming year.

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Key Trends in GBS Evolution

Neo Group

The pandemic has impacted all businesses, small and large. In many cases the difference between a successful business resiliency story and an unsuccessful one was the quality and maturity of its Global Business Services (GBS) organization. Increased focus on performance, value creation and customer centricity.

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Outsourcing Demand Held Steady in Q4 2021 as Global Sourcing Industry Exhibited Modest Signs of Post-COVID Recovery | Press Release

Everest Group

Setups of Global Business Services centers increase in India and China, providing evidence of post-COVID economic recovery. In its latest quarterly report on the global outsourcing industry, Everest Group revealed outsourcing demand held steady from Q3 to Q4 2021, with 404 transactions reported in each quarter.

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Will India’s Silicon Valley Lose Its “Top Global Services Destination” Crown to the City of Pearls? | Blog

Everest Group

For example, Goldman Sachs is expanding its delivery footprint for engineering services and business innovation by employing over 2000 full-time equivalent employees (FTEs), FedEx is establishing a center of innovation for supply chain optimization, and Lloyds Banking Group is utilizing the location for delivering cybersecurity services.