Rethinking the GBS Playbook for Innovation

This document is a report from the HFS Winter Summit that discusses the evolving role of Global Business Services (GBS) in organizations. It outlines the need to shift the narrative surrounding GBS from a focus on cost reduction and efficiency to one that emphasizes innovation and strategic value. The report presents insights from a survey of 510 participants, highlighting that the traditional GBS model is becoming obsolete and that GBS should be viewed as an orchestrator of innovation capabilities. It details the challenges faced by enterprises, including macroeconomic pressures and the necessity for digital transformation. The report also examines the integration of artificial intelligence in GBS, noting that while many enterprises are piloting AI initiatives, scaling these efforts remains a challenge. The document concludes with a discussion on the future of GBS, emphasizing the importance of adapting to new technologies and business models to enhance service delivery and enterprise value.