According to a survey by consulting firm EY, 86% of Global Capability Centres (GCCs) in India are focusing on service expansion as their main priority over the next 12 months. In addition, 56% of GCCs are developing customer-facing products.
According to EY’s “GCC Pulse Survey 2023,” which was based on the data from 87 GCC leaders, the GCCs want to offer more than just the traditional services of IT, customer interaction services, finance, HR, and supply chain services. In light of the increasing use of technology and the development of leadership abilities, they are now attempting to delve into the fields of marketing, law, ESG, advanced analytics, and data science.
“We have observed a 36% rise in attention on developing capabilities and broadening functional scope compared to our study from 2021,” EY said. The survey further stated that these GCCs’ top priorities continue to fuel corporate-wide digital transformation. A mature data and analytics practice has been formed by 55% of survey respondents as a part of their digital strategy.
Cybersecurity and robotic process automation, which assist GCCs’ digital transformation journeys and help deliver value across business functions, are closely behind this. The backbone of their journey towards digital transformation, according to 79% of participants, is their centre’s role as a global hub for the development of digital skills. Blockchain and metaverse technology adoption has been slower than for previous technologies.
Additionally, the survey revealed a greater interest in creating consumer-facing products. It is 28% higher than EY’s survey from 2021 at 56%. The research also stated that 77% of GCCs expect the method of work to remain “hybrid” over the next 12 months. The majority of companies, however, think that less than 25% of their workforce will still work remotely in the future.
The GCCs’ average attrition rate has been calculated to be 12.5%, with 60% of them reporting a rate between 5-15%. The majority of survey respondents said that the “war for talent” still posed a serious risk to their company, according to the report.
