Shared Services Weekly: What Generative AI Could Mean For Shared Services

Hi and welcome to our Shared Services Weekly Newsletter!

Stat of the Week:?

“What sets the top five ranked GBS apart is their full adoption of low-code automation platforms, AI, BPM, ML, Workflow Automation and NLP. In comparison, only 50-70% of other GBS have embraced these technologies” - The World’s Best Global Business Services 2023: What Differentiates Top-Ranked GBS??( SSON Research & Analytics )

What Generative AI Could Mean For Shared Services?

According to BCG Analysis, Generative AI is expected to achieve a 30% share of the overall AI market by 2025! And as the function driving digital transformation, shared services are sure to be central to its application in business. We’ve just about worked out how to fully utilize RPA, but now Chat GPT 4 poses a whole new opportunity (and headache!), we’ll be discussing it’s application at the Intelligent Automation World Series Americas, EMEA, and APAC. And specifically how it affects the future of finance at the Finance Transformation Digital Summit.?

Unfortunately, no matter how good the technology, no digital transformation will realize it’s full potential until the data value gap is bridged. Luckily, SSON is running a webinar with data-gurus Precisely on The Truth (and Myth) Behind Artificial Intelligence and Data Integrity.?

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Cash Optimization In Shared Services Takes Center Stage?

As working capital remains more critical than ever during the post-covid era, the O2C process has become essential to ensuring the financial health of businesses. Luckily there are new tools to help and SSON explores the impact of AI on working capital in our report New Frontiers in Order to Cash.?

Of course, visibility and real-time monitoring are essential to cash-flow and Gaviti ’s A/R Collections management software is able to provide exactly that. Register for our tech-demo to see how.??

Of equal importance to O2C is of course, AP and luckily OpenEnvoy is on hand to help. In their upcoming webinar they’ll be looking at how you can use AI powered AP Automation to fully audit and reconcile complex invoices.??

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GBS Location Evolution?

Chat GPT told me that there are several similarities between Georgia and Egypt: both have historical & cultural significance, large agricultural sectors, and burgeoning tourism industries. What it didn’t mention is that both regions are up and coming options for shared services who are willing to look outside the box for digitally savvy talent. Check out our country spotlight reports on Georgia and Egypt here.?

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HR Continues To Be The Backbone Behind Organizational Growth

We’ve talked a lot about technology this week so it’s refreshing to end on the side of the human (albeit a human workforce augmented by digital transformation). As part of the SSONext Podcast we spoke to 高知特 Cognizant about how connected HR policies can be the key to talent strategy, employee experience and organizational growth. Listen here.?

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Thanks for reading!

Sally Fletcher , Head of Online Events, SSON ?Digital