The Role of Global Capability Centres in Multinational Corporations
Global Capability Centres (GCCs) are integral components of multinational companies, providing crucial services such as IT, R&D, business process outsourcing, and engineering. GCCs in India have been instrumental in driving innovation and operational efficiency, leveraging the country's vast talent pool and resources. However, the rising operational costs pose significant challenges, driven by geopolitical conditions, inflation, and increasing salaries.
Rising Operational Costs and the Need for Innovation
"The cost of running a GCC has steadily increased, necessitating a balance between innovation and operational efficiency. Geopolitical conditions, inflation, and rising costs have made running GCCs more expensive. In India, AI-powered hyperautomation can revolutionize operations, offering solutions to current challenges and paving the way for future growth," said Prashant Pansare, Chief Revenue Officer - India, Zvolv.
The Emergence of AI-Powered Hyperautomation
Hyperautomation, driven by AI and data, is emerging as a key solution to revamp GCC operations. This innovative approach can transform these centres in several significant ways:
Streamlining Operations
Low-code and no-code platforms enable automation across various functions, including IT, R&D, finance, customer support, HR, and supply chain management. This not only boosts efficiency but also allows GCCs to scale operations rapidly.
Empowering Employees
AI-powered hyperautomation democratizes technology, enabling employees to create customized business solutions without extensive coding skills. This includes automating tasks like employee life cycle management, vendor onboarding, and expense management, enhancing overall productivity.
Establishing a Centre of Excellence (CoE)
A CoE promotes innovation by sharing best practices and accelerating development cycles. It provides comprehensive training on automation, integration, and platform architecture, fostering a culture of continuous improvement.
Comprehensive Benefits of Hyperautomation
Implementing a robust hyperautomation platform offers several advantages, including:
- Minimal Technology Skills Required: Applications can be developed with minimal technical expertise.
- Comprehensive Training Programs: Establishing a CoE with thorough training helps maintain a self-reliant team.
- Robust Security and Scalability: On-premise, single-tenant deployment ensures enterprise-grade security and scalability.
Building a Holistic Digital Ecosystem
"A hyperautomation platform integrates seamlessly with various departments like HR, finance, and operations. Employees can create custom applications for tasks such as document submission, meeting scheduling, and performance evaluations, promoting accountability and ownership throughout the organization," Zvolv's Prashant Pansare said.
Impact and Results
The impact of AI-powered hyperautomation on GCCs is profound, offering significant efficiency gains and cost savings:
- Efficiency Gains: Automation reduces onboarding times by 40% and enables rapid application deployment, significantly improving operational agility.
- Cost Savings: Hyperautomation can save over 80% in time and cost compared to traditional methods, with potential savings of $1,000,000 redirected towards innovation and growth.
- Business Resilience: It supports remote teams and ensures business continuity, allowing swift adaptation to market changes and regulatory updates.
Case Studies and Examples
"As per a study, companies adopting hyperautomation have registered marked improvements. The study states that a financial company streamlined its finance operations through hyperautomation, reducing invoice processing time by 50% and cutting costs by 30%. Another example was a global IT services firm that enhanced customer support, achieving a 40% reduction in response times and a 25% increase in customer satisfaction," Prashant Pansare noted.
Building a Future-Ready Workforce
Hyperautomation addresses talent shortages by empowering citizen developers and providing necessary training. The CoE ensures teams stay updated with the latest technologies and evolving business needs.
Optimizing the Digital Journey
Integrating generative AI-driven automation and conversational experiences will further enhance performance, focusing on privacy, security, scalability, and compliance. "The strategic adoption of hyperautomation is essential for GCCs to thrive amid growing challenges and competition. By embracing these advancements, GCCs can unlock new levels of performance and resilience, positioning themselves for sustained success," Pansare said.
Conclusion: The Future of GCCs in India
AI-powered hyperautomation is not just a trend but a critical pathway for GCCs in India to maintain their competitive edge and drive future growth. By embracing this technology, GCCs can navigate the challenges of rising operational costs, enhance efficiency, and foster a culture of continuous innovation.
Source: The Economic Times | Chat GPT
