Business Transformation & Innovation in the Networked World
Introduction
GCCs were established to support global partners and drive cost arbitrage. Today with the onset of the digital revolution, GCCs have evolved into drivers of value creation. Current trends have GCCs stepping in to transform themselves into global innovation hubs. NASSCOM has played a significant role in bringing the industry together and stirring conversations around building resilient business models. During the sessions on June 28th at the first hybrid NASSCOM GCC Conclave, global business leaders shared insights on how GCCs are charting the way for India’s growth story. This article throws light on the key learnings garnered from the Conclave.
Session 1 NASSCOM Perspective: Welcome Address
Opening the session, KS Viswanathan, Vice President, Industry Initiatives, NASSCOM set the pathway for future Indian GCCs revolving around 3 pillars – leadership, impact, and networked models. Leveraging technological expertise, talent, product development mindset, and partnerships, Indian GCCs are slated to drive the Indian economy.
Session 2 Boosting Economy as the Global Capability Powerhouse
Punit Sood, Chairman, NASSCOM GCC Council, & Head of India & Head of International Hubs, NatWest Group highlighted the four pillars shaping the Indian economy – technological advances, human capital, innovation, and sustainability. As GCCs evolve as COEs, they are slated to script India’s growth story.
Session 3 Fireside Chat - An Outside-In Perspective: Value Creation to Drive Revenue Impact
Srini Krish, Fiserv, and Zarin Daruwala CEO, Standard Chartered Bank India in an insightful Fireside chat emphasized on how value creation is the foundation for businesses. Focusing on building values drives customer-centricity which in turn uplifts the revenue. Achieving customer-centricity becomes pivotal, which can be done by keeping talent at the core of value creation.
Session 4 Leaders' Discussion: Reimagining the Tech Play: Talent, Transformation and Trust
In our era of digitization, new paradigms have emerged. Shalini Pillay, KPMG India, Lucy Quist, Morgan Stanley, and Rajat Puri, Legato Health Technologies discussed how technological adoption has transformed business models, customer experience, and employee experience. Sustainable transformation depends on technological partnerships and the ability to retain digital talent.
Session 5 Leaders' Discussion: Effective Partnerships at the Heart of Innovation at Scale
Leveraging the power of partnerships, firms can drive a holistic impact. Sreyssha George, BCG, Gagan Singh, McAfee, and Pravina Ladva, Swiss Re shared how purpose-driven partnership is the key to scalable innovation models.
Session 6 Townhall: Leadership Blend for the Future – Tech Depth, Business Acumen and Empathy
In this digital age, leaders need to have technological expertise, the know-how of technology application, the business acumen of technology deployment, and empathy to build successful businesses. Mohandoss T, CompassMet Consulting LLP in a conversation with Amnah Ajmal, Mastercard, and Diogo Rau, Eli Lilly and Company uncovered the blend GCC Leadership requires to stay relevant and find ways to connect with their customers.
Session 7 Townhall: Defining the Next Business Model in a Networked Era
The business models will be re-imagined to align with the changing environment. At this critical juncture, Sidhant Rastogi, Zinnov, Gaelle Olivier, Societe Generale and Navneet Kapoor, AP Moller - Maersk in a thought-provoking session discussed models suitable for growth-centric businesses. Businesses can create value by focusing on a set of goals that support their long-term success: creating new platforms and ecosystems to enable new business models, finding ways to spur collaboration within the ecosystem, and creating a culture that is ready to work together towards a common goal.
Session 8 Leaders' Discussion: Decoding the Talent Saga: The Era of Shift!
The evolving business models need to revolutionize the employee experience. Indraneel 'Indy' Banerjee, Mckinsey & Company, Anil Yadav, Philips, Jackie Crockford, AstraZeneca, and Ann Florell, Target in India in an enriching session uncovered the paradigm shift in talent management. Connecting the employees to a higher purpose and showing their impact on society helps drive an enhanced employee experience and wellness at workplaces.
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Session 9 Leaders' Discussion: Remote, Return or Realign: Identifying the Next Work Model
As the new normal sets in, workplaces have adapted to the future with 3 pillars - digital, physical, and human aspect. Mrinal Rai, ISG in a conversation with Chris Louie, Thomson Reuters, and Rohit Sachdeva, Kyndryl India shared how technology can enhance employee experience which in turn will uplift the customer experience and the revenues of the firm.
Session 10 Keynote: Product Organization – More than skill, it is the mindset
Product centricity is more of a mindset than a skillset task. Sridhar Solur, Kenmore and Brands threw light on the four frameworks of product development - enterprise and mindset framework, putting the team together (using GAP test - Growth mindset, Authenticity, Passionate product builders), continuous evaluation with the 3Cs (Competency, Consistency, Connection) and being a leader (winning as a team).
Session 11 Leaders’ Discussion: Shift in Purpose – The Power of One!
With the rise of digital interactions, building technological capabilities is the foundation of a successful business. Bala Girisaballa, Vista Equity Partners, Julie Averill, Lululemon, Nikhil Sathe, Blackhawk Network in an enriching leaders’ discussion shared their use-cases on how adopting a one-team mindset between global partners and GCCs has resulted in driving value for the business. As India grows into a hub of technological talent, autonomy, and integration of GCCs into the business value chain will drive more efficiency.
Session 12 Fireside Chat: Data - Cumbersome yet Insightful: Tenets of Modern Data Experience
Deepak Visweswaraiah, Pegasystems and John Colgrove, Pure Storage engaged in a Fireside Chat on the evolution of data management. Efficient data mining, management and adopting technology to drive data intelligence was termed essential for businesses today.
Session 13 Fireside Chat: Platformization and How it is Catering to Customer Needs
Evolving customer financial needs has disrupted the industry. Kush Kamra, MetLife, and Simon Paris, Finastra shared insights in a Fireside Chat on how fintechs are revolutionizing the industry with digital platforms. Collaborating with fintechs, businesses can platformize and drive value across the customer journey.
Session 14 Leadership Inspiration Talk: The Art of New Management
Leaders are the torch bearers showcasing the path for their business in this ever-evolving world. To stay relevant, Shiv Shivakumar, Aditya Birla Group shared how one needs to efficiently manage themselves. In order to lead from the front, individuals need to manage time, ambition, learning, energy and relationship with the organization.
Conclusion
Coupled with scalable talent and capabilities, GCCs are contributing significantly towards the Indian economy. GCCs are pivoting towards creating India’s reputation as a global tech hub with cutting-edge technology, products, cultural integration, new business models and partnerships, evolving digital skillsets and innovative mindset.
This year’s NASSCOM GCC Conclave with the theme ‘Leaning in for impact in the Networked World’ celebrates the rise of GCCs in India as the leader among the capability centres’ landscape.
June 28 & 30, 2022