A global business is different from an international business, which sells products and services worldwide and maintains facilities only in its home country. Global business refers to the wider scope of trade across national boundaries. These trends seem promising yet challenging for any business leader. Business managers generally do not have access to the appropriate knowledge and resources needed to execute specific tasks or projects.
Organizations meet challenges due to country-specific work cultural differences. Also, business practices vary widely in technical, regulatory, and institutional contexts. Business leaders must consider various factors related to the important foundation of the globalization process. They need to gain a deep understanding of target markets, trends, and competitive markets and understand the various requirements in the operations. Getting to the level of matching a local business requires enormous resources and time.
What are Global Business Solutions?
We see that globalization reflects the spread of doing business globally as an ideal in the business world. Advanced technology solutions that drive businesses are spreading across the globe at a rapid pace. They are coupled with equally supportive business services to keep the global business running. Global business services or GBS is a business model created in the IT industry in the early decades of the century and has become a model of IT business practice.
GBS is also termed the next step of evolution in outsourcing models. A GBS provider company is resourceful and can support globally across multiple countries and also in different languages. GBS is composed of a team of cross-functional experts, The workforce is organized to provide services that will meet or exceed customer expectations regarding quality, price, and fulfillment. The teams at GBS ideally cater to professionals specializing in unique fields of expertise, such as finance, human resources, IT, accounting, capacity management, and procurement.
GBS aims to provide total business support to a large organization operating globally in multiple countries. These service providers understand the diverse and unique needs of their international customers in a better way. Accordingly, they offer a comprehensive set of services to their clients. A service provider delivers an integrated, end-to-end set of capabilities globally to enterprise customers. The business services offerings and solutions help companies streamline their operations, improve efficiency, and better serve their customers regardless of their location.
In the field, the GBS model is not an out-of-box solution that fits all organizations. It is rather flexible and customizable, designed to meet the client’s requirements. For example, some businesses may procure to outsource their entire IT support function through a GBS provider. This may be the case to cover their geographically dispersed network uniformly. While some clients may simply call the services for specific business processes such as financial consolidation of accounts or order handling.
Global Business Solutions for Businesses
The businesses can get help from expert agencies that help them set up and align their processes to be ready to run the state. Business solutions companies address and resolve their clients’ problems, such as financial problems and inefficient processes.
A typical use case could be serving multilingual customers through solutions based on the latest technology. GBS providers, for example, can help set up cloud-based regional contact centers. This type of business solution achieved through call center services enables all customers to reach support via calls, email, or live chat – no matter their geographical location.
Let’s consider another dimension of a global business. Business process adoption is critical in a rapidly changing market. Attention to initiatives for standardization and process improvement gives the service provider the agility it needs. For example, when a company is expanding into a new country, a GBS provider can work to set up the necessary infrastructure quickly and efficiently. This will help the company maintain operations to keep the process going.
What Is the Difference Between GBS And SSC?
Shared Service Centers (SSC) and GBS are different. They differ in the way services are offered and the way they are delivered. SSCs focus primarily on back-office support, usually in non-customer-facing activities. GBS, on the other hand, offers more comprehensive services in the areas of customer-facing functions and top-of-the-line key operations in the back office.
Global business comes with unique challenges but can be an opportunity for tremendous organizational growth. To prepare for those challenges, organizations must closely follow foreign policies and develop market relationships in those countries. By partnering with a reputable service provider consulting in GBS, companies can establish a global footprint and sustain a business with a global presence.
Expanding business overseas is inevitable as global markets offer a huge opportunity for growth. For any small business going global appears somewhat complex and dynamic process. However, for brands paying attention to detail and outsourcing administrative and operational functions, the difficult task of “going global” can yield great results.
A GBS provider capable of designing and implementing GBS solutions is always on top. Going forward, there is demand for global business solutions that include services in high-end domains leveraging digital enablers including Robotic Process Automation (RPA), Global Standard Processes, and other top digital enablers.