Optimising financial processes

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Global Business Services Scorecard – Good Results, But Can Do Better!

In the last 12 months corporations, and Global Business Services (GBS) organizations in particular, have proven themselves in the most demanding of times. We should be proud.

The sudden, unplanned shifts in operating models challenged every business.

But we responded.

Maybe better than we even expected. 

But this success has raised expectations and accelerated demands in;

  • Ever Faster Response & Action
  • Sustained Remote, Separated Work
  • More Contactless Interfaces and Interactions
  • Integrated end-to-end Processes
  • Digitization
  • Reliance on Data  

Before “COVID Times” McKinsey produced a brief, but compelling “State of the Union” for GBS. And you know what? It makes EVEN better reading now, as we launch into 2021.

They describe the core maturity dimensions of GBS;

  • Depth within functions
  • Breadth across functions
  • End to end process journeys
  • Core cross functional capabilities

And a FIVE POINT ACTION PLAN that is as relevant now as it was in January 2020;

  1. Back to Basics – Think “Lean” and THEN Digitize
  2. Focus on Bulletproof Data Quality
  3. Develop the new ecosystem of solution and service providers 
  4. Organize around agile Design, Build, and Run delivery models  
  5. Re-commit to delivering value to all internal stakeholders  

You can read the McKinsey insight in more detail, it’s a short but worthwhile piece here