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Charting the digital growth roadmap with GCCs accelerating the pace
Charting the digital growth roadmap with GCCs accelerating the pace

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There couldn’t be a more apt time to discuss factors that will drive the growth of Global Capability Centers (GCCs) in India. As necessitated by the pandemic, GCCs have fast adapted to the new normal. GCCs have proven their resiliency and ability to deliver on time, enabled by a focus on scalability, cost effectiveness, and strong motivation to build a robust technology foundation for transformation and sustained growth.

This growth seems destined to continue, with industry bodies such as NASSCOM already predicting the sector’s compound annual growth rate of 6 to7 percent, to over 1,900 GCCs by 2025.  

In today’s dynamic business environment, the role of GCCs continues to evolve. The following principles will define and drive their growth and transformation.

Elevating customer centricity

Keeping the customer experience at the centre of operating models is critical in an organization’s digital transformation cycle. One way to create this centricity is by building and sharpening technology and skills that will optimize services and experience for the customer. With customers embracing digitization and the subsequent increase in demand, GCCs must enhance their ability to implement digital products and services in a timely and cost-effective manner.

Enabling technology to enhance service portfolio

Digital enablement, process automation, and cloud adoption will drive the fintech and payments space. Securing the right talent, processes and tech to deliver will be integral to transformation. Increase in investment in emerging technologies such as robotic process automation (RPA), artificial intelligence (AI), and machine learning (ML) will further accelerate digitization. GCCs are serving as the digital hub for automation and analytics efforts as well as innovation catalysts, and their role will remain relevant in an environment where the future of digital innovation lies in data management accompanied with usage of multiple automation tools.

Redefining value with analytics

Uniquely positioned in a more integral role than prior to the pandemic, GCCs are increasingly leveraging analytics to drive strategic and actionable insights. In such a scenario, digital engagement analytics has become central. These tools not only enables financial institutions (FIs) to leverage data to engage meaningfully with customers, they can also create persona-driven products and campaigns that deliver intuitive and customized experiences to keep end-customers engaged.

Building capabilities to accelerate digitization

GCCs need to invest in building favourable ecosystems that accelerate their digital journey and build inhouse talent capabilities that will enable them to move faster and more efficiently in their service delivery. This will also bring a positive shift towards value and quality of work. As a growing GCC stronghold, India already has a robust innovation ecosystem that is invested in building and developing capability around new and emerging technologies, tools, and processes. 

GCCs will continue to play a crucial role in digital transformation. Customer centricity, investing in the right talent and skills, and encouraging non-linear thinking will hold the key.

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-  Gopakumar Subramonian, SVP Delivery, Fiserv


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