Business Shared Services (BSS) have advanced over time from in-house models to collaborative models that span multiple organizations. In today’s digital age, businesses are seeking out methods to optimize their operations and reap better results.
BSS can help businesses achieve those dreams by decreasing expenses, improving quality, and increasing performance. In this blog post, we will explore the evolution of BSS and how it has impacted the way companies perform. We will speak about the advantages and disadvantages of using BSS in a variety of business models, inclusive of in-house, collaborative, and hybrid models. We will provide examples of some popular businesses or companies that have used those models to optimize their operations and achieve higher outcomes.
This blog will provide you with valuable insights and tips on a way to leverage your BSS to achieve your business dreams and objectives. Let’s dive in!
The In-house Model of Business Shared Services
The traditional model of BSS entails an in-house crew inside a single organization that provides services to other business units. This model has been used for many years and has been confirmed to be powerful in optimizing operations and decreasing charges. However, it has some risks in the digital age, including confined scalability, lack of flexibility, and high upkeep expenses.
A successful company that has used this model includes a multinational consumer goods organization. This multinational corporation has been using the in-house model of BSS for many years. Its Global Business Services provides services that include finance, accounting, human resources, and statistics to its business units around the world. GBS has been capable of reducing prices by means of consolidating offerings, standardizing procedures, and leveraging technology. However, GBS has faced some challenges in this virtual age, along with the want for extra agility, innovation, and consumer consciousness.
The Collaborative Model of Business Shared Services
This rising model of BSS entails a collaborative team across multiple organizations that offer services to each other. This version has gained popularity in recent years because of its advantages in scalability, flexibility, and price-effectiveness. It permits businesses to share assets, knowledge, and expertise with each other and to obtain higher outcomes collectively.
A successful company that has used this model includes a multinational professional services business company
This company has been using the collaborative model of BSS for decades. Its Business Process Services (BPS) provides offerings together with finance and accounting outsourcing (FAO), procurement outsourcing (PO), human resources outsourcing (HRO), and client care outsourcing (CCO) to its clients around the world. BPS has been able to optimize its operations by leveraging technology such as automation, analytics, and cloud computing. However, BPS has faced a few demanding situations in the digital age, inclusive of the need for extra innovation, agility, and purchaser consciousness.
The Hybrid Model of Business Shared Services
The hybrid model of BSS entails a combination of in-house and collaborative teams that give services to every other. This model is turning into greater fame as corporations are trying to find a balance between their goals and objectives with the advantages and drawbacks of each model. It allows companies to leverage the advantages of both models while minimizing their drawbacks.
A multinational company that has used this model includes a British-Dutch consumer goods company
This multinational goods agency has been using the hybrid model of BSS for decades. Its Global Business Services gives offerings that include finance, accounting, human assets, and information technology to its business units around the world. GBS has been capable of optimizing its operations by leveraging both in- house and collaborative teams. It has an in-house team that offers core services inclusive of finance and accounting, and it has a collaborative team that offers non- core offerings together with marketing and sales. By the usage of this hybrid version,
the company has been able to attain higher results in terms of financial savings, quality development, and innovation acceleration.
Conclusion
By understanding the evolution of Business Shared Services and the different businesses that use it, businesses can pick the proper model that suits their wishes and dreams. Whether they pick an in-house, collaborative, or hybrid model, they can benefit from the advantages of BSS in optimizing their operations and accomplishing better results.
