SSF Journal - Mar2018

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Content for publishing, if needed: Read about the agenda for GBS centres to 'get set' for future value... and much more... To contribute your leadership article or case study, write to us at info@sharedservicesforum.in Contact us to place your organization's ads in the journal.

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A Journal of Shared Services Forum MARCH 2018 FUTURE READY, NOT FUTURE SHOCK The Agenda for GBS Centres to ‘get set’ for Future Readiness GBS of the future is packed with a lot of action and lots to accomplish – great potential and great opportunities

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Editor’s Note A Journal of Shared Services Forum MARCH 2018 EDITORIAL BOARD Sanjay Gupta Rakesh Sinha Pallavi Jayaswal CORPORATE OFFICE Shared Services Forum D-75, Malviya Nagar, New Delhi - 110017 , India Phone: + 91-11-2667 4920 www.sharedservicesforum.in Published , Printed and Owned by Shared Services Forum All rights reserved. Reproduction in whole or in part without written permission from Shared Services Forum is prohibited. Write to us: contact@sharedservicesforum.in experience in the fields of Management, Business Processes, Finance and Human Resources. Sanjay has pioneered & published several research papers on BPM & Shared Services and also co - authored the first ever comprehensive book on BPM – “BPM in Global India - The Inflection Point for Competitive Advantage”. Sanjay is the Executive Editor of Shared Services Forum’s Journal, Process Edge and contributes immensely towards GICs/ Shared Services/ BPOs by knowledge capture, sharing and dissemination through articles, research and creating models for base lining and growth . Sanjay divides his time between SSF activities and consulting for large corporates. In addition, he provides English coaching to the underprivileged children, youth and young adults. Sanjay Gupta is the Chief Architect of Shared Services Forum. He has over 32 years of work There is so much being said about the world of the future that it has almost begun to take an ominous place in our minds. The future world seems to have already overtaken our past world and is almost competing with the present world in terms of sheer quantity of thought content. Clearly, advancement is not bad in itself. It is the speed that seems to have accelerated faster than any single generation can absorb. The trouble with these crystal-ball-gazing predictions of the future is that each one of them is hugely disruptive and extremely technology intensive. When Alvin Toffler published his famous book Future Shock (1970), he probably could not even image some of the predictions being talked of now. It is hard to imagine that humans of the future may have the option to have a computer chip embedded in their brains, connected to the outside world at all times. Imagine: no morning alarms needed, in fact no watches, no hand-held phones, no laptops – just think it and e-mail it out! Darkly, humans could well become bionic or semi-computerised, ultimately eliminating the species homo sapiens (Homo Deus: A Brief History of Tomorrow by Yuval Noah Harari ). Environmental changes will come too. Fashion, food, language, culture will all globalise rapidly and change the way we think and do business. Politics, governance, business modelling and management thought will be very different from what we see today. The world may well become one big market and each company a global player. Change in human order is nothing new. Humans have been rapidly advancing forever . Each passing era must have looked at the future with some degree of trepidation. Three generations ago the Frenchman Jules Verne created a world furore with his predictions, causing enormous amounts of debate, in favour and against. However each one of his predictions seems to have come true in some form or another. Advancement is inevitable. We cannot alter it or stop it. We can only enable and prepare for its arrival. We must discover all we can about what that world will be like in the future, and try to guide our policies and actions around that. Preparing for uncertainty raises the question up from the specific to the general; from workplace skills we can define today to skills that prepare us for an uncertain range of possible futures and for steady change. There is no sure-shot way to make ourselves future-ready. We have to create a sound learning foundation in such a way that we are well-informed, skilled in certain areas and flexible. We should be able to learn, unlearn and relearn with ease. Moreover, social and inter-personal skills, resilience in the face of adversity and an optimistic outlook must be developed. It is imperative that we have an understanding of the unpredictability of tomorrow's world. It is only then that we can have the will to embrace change. Algorithms will radically change the world of work. As will microwaves. This will have a telling impact on how services are carried out in an integrated corporate world. As business managers our readiness to take this in our stride will depend on our preparedness to learn, unlearn and relearn rapidly. Together, in this edition of Process Edge we will go through a framework of reducing the shock of an unpredictable future of a business services organisation by creating ‘ ACT’ion now; use the present to enable the future. In addition, we would also have a ring-side view of some of the cutting edge IT advancements that are happening in the world of business services. Hope you enjoy the journey. www.sharedservicesforum.in

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Table of Contents 3 14 18 24 30 Trading on the Edge USING SUPER COMPUTING TO CATCH THAT ELUSIVE ‘MARKET TIP’ I Have the Power LEVERAGING THE POWER OF HIGHLY ENGAGED EMPLOYEES TO DRIVE CUSTOMER CENTRICITY COVER STORY Future Ready, Not Future Shock – THE AGENDA FOR GBS CENTRES TO ‘GET SET’ FOR FUTURE READINESS Become ‘Future Relevant’ by ReShaping the Transformation Strategy A REPORT ON SSF’s 7th ANNUAL GLOBAL SHARED SERVICES CONCLAVE 2017 The New Age Human Resource LEVERAGING AI FOR A HIGH-TECH & HIGH-TOUCH EXPERIENCE 33 Connected Customer Experience AN INNOVATIVE CASE OF IT SERVICE MANAGEMENT TRANSFORMATION Delivering Financial Services Faster & Better HOW BFSI CAN LEVERAGE AGILE TRANSFORMATION 37 www.sharedservicesforum.in Highlights from the Research Report on ‘Building Capabilities for Future and Catalyzing Transformation’ TRENDS, PRACTICES & FRAMEWORKS 35

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COVER STORY Future Ready, Not Future Shock! THE AGENDA FOR GBS CENTRES TO ‘GET SET’ FOR FUTURE READINESS RAVI S RAMAKRISHNAN “Our greatest motivations in life come from NOT knowing the future .” — ‘FUTURIST’ Thomas Frey PROCESS EDGE | MARCH 2018 | 3 GBS of the future is packed with a lot of action and lots to accomplish – great potential and great opportunities

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F uturist Thomas Frey says that Business will change in the next 10 years much more than the past two decades, and humanity will change in the next 20 years more than in all of human history. As per Frey, by 2030, the average person in the US will travel 40% of the time in driverless car, use 3D printer to print hyper individualized meals, and may be, 50% of today’s Fortune 500 Companies would have dropped off the list . Like the tip of the iceberg, the roller coaster changes of 2030 are visible in today’s global environment through unprecedented forces of change happening simultaneously in US/UK. Being future ready should be a business need of GBSCs. It should not be at the discretion of a directive from Corporate HQ, especially if the GBS leadership wants to create the right level of positive impact to the parent company and not be negatively impacted by a future shock . ‘ ’   PROCESS EDGE | MARCH 2018 | 4 These changes are impacting businesses of several global corporations and thereby, having a direct impact on the Global Business Services, the strategy that was initiated as captive centres, two decades b ack. t ransactional processes to high-end and analytics processes. Nearly 70% of the GICs are small scale centres i.e. less than 500 FTEs (see chart below) of large manufacturing corporations and mid-size companies. While the fundamental construct of the GICs has been as a ‘cost centre’ of the parent company, many of the mature GICs, have made efforts to grow into GBSCs and move up the delivery chain to become ‘value focused centres.’ However, GICs are not often run as a ‘business’. Hence, their future readiness to plan and contribute to parent company’s business is contingent upon the information shared with , or perceptions of the HQ, well founded or otherwise. Given this, today we are truly at an ‘inflection point’ of GBS centres. There is a need to assess and enable how the GBS Centres can become future ready now, and refresh to re-align their priorities with the parent company’s future business priorities. Ironically, one clear example in the past that had the ‘readiness’ to deal with shocks of business environment was the GBS centre of Lehman Brothers at Mumbai. In 2008, when the parent company Lehman Brothers filed bankruptcy due to financial crisis, the tenacity and resilience demonstrated by the GBS leadership of Lehman Brothers in India to jump on to the driving seat and direct their own destiny despite the shock of the parent company, is really appropriate and worth a case study by itself. ‘Being future ready’ should be a business need of GBSCs. It should not be at the discretion of a directive from Corporate HQ, especially if the GBS leadership wants to create the right level of positive impact to the parent company and not be negatively impacted by a future shock . Four Forces of Change for GBS to reckon with: The GBS Centres need to consciously consider the impact of Four forces of Change to assess and build their readiness: Future of Geo Political & Work Changes, Future of Business Change, Future of Corporate HQ philosophy on Offshoring, and last but not the least, Future of Technology Offshoring to India is anchored in mid 90s as a pioneering strategy by American Express. It was based on the early fruits of technology enablement, as an in-house captive centre, now renamed as Global In-house Centres (GICs). There has been significant growth over the last 20 years – 2600+ GICs, 50% in India itself – not only in number of FTEs but also from low-end

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PROCESS EDGE | MARCH 2018 | 5 Each of the above will have a direct impact on GBSC but the impact could vary from one business domain to another. Consequently, the strategic posture will have to be relevant for the 1. Future of Geo Political & Work Changes The certainty once associated with globalization has suddenly come into question with Brexit , the Philippines, Netherlands and France, and of course, US. The interdependence of countries, now a fact of global life, is not matched by strengthening global governance. However, there is an expectation that political and corporate leaders will engage together in the development of what is called ‘human rights ecosystem’. Economic power and political power will increasingly shift to Asia - China in particular, and India to a large extent. Africa, with its lowest median age in 2030 (21 years) as compared to Europe (45 years), will have the demographic dividend shifted from India. The retirement age will go up to 67 years, with higher life expectancy. Population of millennials will reach a peak by 2030. Liz Bentley says that 50% of occupations that exist today will not exist 10 years from now. The age of anonymity or even privacy is getting over, directly impacting the social fabric of the people across the globe. 2. Future of Business Fortunes are ever changing! As already mentioned, 50% of today’s Fortune 500 might have changed by 2030. A good indicator of the past experience of business is that 7% of the Fortune 100 in 2007 do not appear in the Fortune 500 of 2017; only 12% of the Fortune 500 companies in 1955 remained Fortune 500 in 2016, and 50% change happened between 2000 and 2016 - thanks to digital transformation. Out of many, there are several oft quoted examples such as Lehman Brothers, Kodak, Blockbuster, Sears and the like. Industries change in different ways. An HBR article summarizes that Industries evolve and change over distinct trajectories – radical, progressive, creative and intermediating, across two dimensions – core activities that generate profits and core assets that represent the resources, knowledge and brand that have made the organization unique. The key highlight to focus between Business & Technology is, for the same technology, the business impact varies very differently for different businesses. domain they belong to and the responses need to be appropriately incorporated into their future readiness. The key change elements under each force are captured in Chart 1 for brevity and focus: Chart 1

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For example, IoT is transforming six industries – Agriculture, Healthcare, Retail, Transportation & Logistics, Utility and Manufacturing – very differently, and the challenges of one business like Agriculture varies from the challenges for the other, like Manufacturing. In the business world, demand is increasing for a new, trustworthy source of information on tax and regulatory changes worldwide, to drive global as well as local decisions, through effective use of the advanced technologies. On the same count, hence, Digital Ethics will be key to risk management. 3. Considerations of Corporate HQ on GBS delivery is also not properly measured in a ‘demonstrable’ manner. Pioneering leaders of GBS like American Express, P&G etc., have always set the goal for the GBS to become truly a strategic asset for the parent company. Strategic Asset is a specific set of core capabilities and resources that an organization possesses. They provide the organisation a significant and unique competitive edge to sustain its future outcomes and continue to grow and prosper. This continues to be a dream for many of the GBSCs, as the strategic connect is relatively lower as compared to the expectations of Corporate HQ. PROCESS EDGE | MARCH 2018 | 6 Pioneering leaders of GBS like American Express, P&G etc., have always set the goal for the GBS to become truly a strategic asset for the parent company. ‘ ’   The expectations of corporate HQ from GBS are changing and the Net Promoter Score (NPS) of GBSCs is not very encouraging. As per the Bain - NASSCOM 4. Future of Technology All changes from the forces of geopolitical, social and business have a strong connect with technology, and hence, it is needless to over emphasize the 2017 study of India GICs, NPS is at a low of only 17%. While this is an external report, many GBSCs do not take VoC from their internal customers. Hence, they are mostly unaware of the NPS. Despite being closest to the business, one particular reason of HQ’s perception of low performance of GBS is ‘domain know-how’. This requires substantial effort from GBS to make a difference in the future. Leadership change at the HQ for GBS or even at the Parent Company CEO level, has a direct bearing on the future and strategies of GBS. A good example is Aviva Global Services. It started off as a model BOT structure with 3 vendor partners and 6 centres. With a change in top leadership, it became a pure outsourcing operation, after 3 years of BOT Operations. GBS is seen as an extension of business of the parent company. While one welcomes this construct from GBS value creation/ business point of view, it has a few downsides to it that affects the very DNA of the GBS. Firstly, this is the key reason for GBSCs to be looked at as a cost centre. This approach leads to inherently higher costs. The comparison is often with what is prevailing in the parent company and not with what is prevailing in market place competition (like BPO majors). Second, by design GBS is financially managed by cost budgets and not by profitability of a business . Value As per Pemberton Levy of Gartner, in 2030, ‘things’ will dominate, having grown exponentially. As every product, service and process becomes digitalized, the product ‘cloud’ will become more valuable than the product itself. Competitors will continue to challenge industry boundaries and traditional business models. With IoT and with more than 50% population having internet access, the demands for internet connectivity will substantially go up. In short, digitalization will make the world an even smaller place. With billions of connected devices and things, the business will move beyond Big Data to Algorithms. Obviously, an increasing portion of the workforce will not be human. Technology will impact the people in GBS substantially. It will make finding the right talent easier and reduce unintentional bias. Employees will be analysed in unprecedented detail and in real time, to ensure they are effective and happy. Mobile banking will transform the lives of people from emerging countries and will be more ‘empathetic’, thanks to virtual reality. Besides the people skills, data science, forecasting skills and the ability to design and tweak algorithms will be even more essential . pervasive and rapid change happening due to technology.

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While there is so much talk about New Age IT, there is another dimension to the technology: legacy platforms as well as multiplicity of applications. intent of innovation, and allow the low end processes to continue to remain outsourced. However , if insourcing is done due to high cost-to-serve, then the PROCESS EDGE | MARCH 2018 | 7 The mantra that will be used for achieving future readiness is ACT – Assess Readiness, Connect Readiness and Target Readiness i.e. ACT now for Future Readiness . ‘ ’   Many large organizations deal with as many as 2000+ applications and bulk of them are not digital ready. Companies clinging to out-dated applications eventually run into a problem. approach is inappropriate. Any IT work that is routine and transactional can remain outsourced – but at a lower cost – by inviting fresh RFPs, as required, for award of BlackBerry , Blockbuster and Kodak are good examples. CXOs are keen to get this sorted out in the next few years, so that the Old Age IT does not become an ‘albatross around their neck.’ This will call for disproportionate effort to prioritize and change, while there is continued focus on modernizing IT. In the last couple of years, many large BFSI & retail companies have started ‘insourcing’ technology after having outsourced, with the intent to create strategic focus towards New Age IT. While the strategic intent to insource outsourced processes is well justified, this could be a big change for both GBS and corporate HQ. If not managed well, this can put the corporation back by few years in terms of GBS. This needs to be carried out carefully and in a structured manner. Instead of insourcing all outsourced processes, there is a need to segregate the high end processes that require insourcing as they serve the strategic the new contracts. The GBS, besides the parent company, needs to be in the forefront to make such insourcing decisions meaningful with strategic analysis backing such a decision. ‘ Getting Set’ for Future Readiness The change elements under the four forces of change are by no means exhaustive. They are only highlighting the extent of change possible or happening – few within our control or influence, and many beyond our control. However, it is abundantly clear that GBSCs and GICs need to ‘get set’ for future readiness from TODAY, if they are keen to proactively shape their own destiny. There are SEVEN tracks that need to be worked upon to progress towards the goal of Future Readiness. These form the ‘Seven Tracks of Highly Effective & Future Ready GBS. Each of these SEVEN Tracks of ACT has ‘Assess’, ‘Connect’ and ‘Target’ parameters to follow for enabling future readiness , as captured in Chart 2. Chart 2

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A C and surely not remain as a cost centre or even a value-focused centre. This is an important milestone for future readiness. This will require establishing the costs and revenues of GBS as a business through a simple charge-out mechanism along with value of net assets deployed in setting up and running of GBS. This will provide the ROI of GBS and give a real momentum for the GBS to look for opportunities to re-allocate resources as per parent company priorities. As of now only about 10% of the GBSCs actually report as a business, since the general belief is that GBS is an extension of the parent’s core business. company’s priorities is what makes the GBS readiness is ACT – Assess Readiness, Connect Readiness and Target Readiness i.e. ACT now for Future Readiness. ACT 1 – Benchmarking Cost to Business starting point to the journey of getting future ready with a meaningful dollar metric that connects GBS not only within the parent company but also with the comparable external market environment in terms of a sustainable value story. Benchmarking of cost needs to cover Fully Loaded Cost per FTE (FLC/FTE) – including direct and indirect costs. HQ allocated costs are also to be included, while determining the FLC/FTE. Many of the GBSCs report the Budget vs. Actual for Total Direct Costs and not the FLC and do not always establish the FLC/FTE. The ‘Call to Action’ is immediate and we need to categorize the actions with a view to eventually target future readiness. One action may address issues under more than one force of change and hence, the actions need to be considered holistically and a framework drawn up accordingly . PROCESS EDGE | MARCH 2018 | 8 Benchmarking of Cost & Value Delivery in the Assess Stage is the fundamental Post this assessment, the Connect Stage is to progress towards GBS as a business, This way of working is insufficient for benchmarking, as external information available is always FLC/FTE. Similarly, Value Delivery by the GBS is to be established covering savings, risk mitigants and revenue impact. This Assessment enables to identify the opportunities P&G GBS: Getting Future Ready through NGS - A Case Study * Procter & Gamble has been the Global Business Services industry’s poster child. Their GBS Model is mature delivering to a global strategy. Two years back, the GBS Leadership believed that the key to unlocking the next stage of value-add lies in ‘leveraging exponential technology disruptors to redefine work processes’, and reimagine GBS service delivery to enable digital business model for the enterprise. In partnership with Singularity, P&G’s GBS set up its own ‘collaborative laboratory’ via a new Next Generation Services (NGS) team, and tapped into the best resources for exponential technology. The team launched a three-stakeholder group approach to moving forward: Exponential Work Processes, represented by each of its service lines Exponential Technologies, represented by the top few IT & Shared Services providers and Exponential Ecosystem, represented by 200 external start-ups and venture capitalists. Over 2 years, this group worked on new generation capabilities, starting with a clean sheet of paper, without being limited by traditional work processes or out-dated thinking. They built the enterprise strategy on customer experience, and were careful not to be misled by mere technology innovations. The result was in three-parts: Exponential Processes: Through Outcome Based Processes with trust & control (data algorithms to approve expense reports) Exponential Technologies: Through Total Automation with IoT , Machine Learning, AI & RPA, redefining scale from scarcity to abundance Exponential Ecosystem: Through Human Capital on Demand by crowd sourcing, and dissolving organizational boundaries by platforms across the organization (like LinkedIn/ Airbnb driving new business models) The projects were characterized by high risk/high return, with 10x improvements instead of the usual 20 to 30%. The thought was that even if 2 out of 10 projects would be successful, the benefits would far exceed the investments because of the disruption it would drive. More than the tools, the end goal was driving the NGS strategy. Companies like P&G are embracing disruption as a game-changer - from its products to its services - demonstrating their future readiness. * Summarized from the Published Interview of Tony Saldanha T The Target Stage of Enterprise Services as a business, fully aligned to parent As it evolves, it could be that the future of Global Business Services could well determine the future of the Business itself. ‘ ’   Let us look at these briefly. The mantra that will be used for achieving future for cost reduction as well as areas to mine and deliver value for the business.

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ACT 2 – Customer Excellence GBS thinks of its delivery with what the customers perceive they are getting. In our interactions with GBSCs , we have seen organizations do not carry out regular or periodic VoCs with their HQ as there is a belief that both belong to the same company. Or, GBS may believe that they are moving up the maturity curve in terms of Delivery Excellence, but do not validate this with their internal customers. Both are not good practices for an effective GBS operations. Hence, this is the best place to start for Assess Stage as there is always a ‘gap or disconnect’ between GBS and the key stakeholders. This can also establish the Net Promoter Score (NPS) for the GBS. increase the NPS. This stage ensures an alignment of Delivery Excellence with Customer Expectations, implements a structured process for customer engagement with business and service functional heads to understand and deliver on the critical customer journeys. the Target Stage. Quite often, GBSCs tend to use the concept of CEM without even having a proper VoC , Delivery Excellence validation, or a customer engagement program. The sequential focus on CEM in the Target Stage will, therefore, provide solid credibility to connect with internal customers and even external customers, jointly with the internal customers. ACT 2 is a key track that connects ACT 1 of GBS or ES as a Business to sustain collaboration with customers, built on a strong business orientation. become truly future ready. Here, the approach is inverted – where the GBS prepares its Strategic Plan based on the parent company’s priorities and challenges and proactively allocates resources towards fulfilment of those requirements. Procter & Gamble GBS is a good case in point for reference, which has already reached the Target stage of ‘Future Ready’ (See Case Study). ACT 3 – Core Business Expertise In the history of two decades of offshoring, GICs and GBSCs, the domain expertise is an expectation that GBSCs always seen to be falling short of. For the sake of clarity, Domain Business refers to the Core Business of the parent company – be it, Insurance or Fast Moving Consumer Goods. Without this PROCESS EDGE | MARCH 2018 | 9 A C T Voice of Customer and Delivery Excellence is an excellent combination to align what GBS thinks of its delivery with what the customers perceive they are getting . ‘ ’   As it evolves, it could be that the future of Global Business Services could well determine the future of the Business itself. anchoring track, being future ready would remain a myth. Voice of Customer and Delivery Excellence is an excellent combination to align what Post the Assess Stage, the Connect Stage enables action on ways and means to An effective NPS helps progress towards Customer Experience Management (CEM) – Intermediate and Advanced levels, corresponding to the roles and leadership. GBSCs need to have domain focus on the industry and not just the parent company. They should extend their analysis to parent company’s competition as well (in all forms – traditional and emerging) and the way customers are serviced by others (strategic triangle of company, competition and customer). They should then plan and establish a robust Domain Expertise Development Centre with faculty from parent company, Train-the-Trainer for domain knowledge, assessments tests to certify the levels of completion, and metrics to monitor domain expertise development at the GBSC. All of this should then be reported periodically to the key customers of the parent company. Technology, being all pervasive to all businesses, the domain expertise is the foundation to leverage this power for business. Services (NGS) Hub within GBS to identify projects to leverage domain knowledge with new workplace processes and technologies. technology with business growth. This is a long haul activity and requires urgent attention of all GBSs who are serious in getting future ready, as shown in the P&G case study. ACTs 1 to 3 , taken together, will really provide the much-talked-about-but-often-never-realized ‘seat at the table’ for the GBS lead with the Business Leaders of the parent company. Without these ACTs, seat at the table will remain just a good talking point and never happen. ACT 4 – Operating Models GICs, by design, are In-house and fall under the Captive Operating Model. The Assess Stage is to understand the A current state of domain knowledge across GBS population, at Prelim, C The domain expertise focus leads to the Connect Stage of creating a Next Gen T NGS provides the right platform to go to the Target Stage of delivering value by linking

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However, GBSCs need to go beyond captive operations to encompass managing many operating models as appropriate to its business process value chain, and fit to the corporate philosophy. Quite often, outsourcing happens in parallel to GIC or GBS Ops, without a direct link to GBS. This is sub-optimal from the overall business points of view. Also sometimes, the corporate philosophy mandates creating only ‘captive’ GICs even when alternative models may be more effective to get the best out of the BPM ecosystem. Whichever operating model is adopted, there is a need to pin the delivery accountability on the provider, and not pass this on to the parent company. operations residing within GBS – be it, captive or third party and carry out a zero base review to determine which operating model is more suitable. This can also lead to a situation where the Shared Services in one location can be spun off to a third party with relevant expertise; or pulling back some from the outsourced operations to in-house model. A Sourcing Management Office (SMO) with internal leadership and external experts can be a good way to initiate and monitor this. The SMO can review and reimagine the operating models from a clean slate and take the necessary step forward to the Connect Stage action. solutions and models that have come up like ‘Dedicated Captive’ ( DCap ) where the centre provides exclusive services to GBS or if there is no GBS, to the parent company. This is not a virtual captive which BPOs have carried out in the past. The DCap model provides the right blend of In-house flexibility, exclusivity of people and operations and control with minimum investment enable setting up operations with best business process expertise, and as a business. This innovation comes from the best practices of manufacturing space, where sub-contracting has been successfully adopted and is an unbeatable combination for corporations seeking to have control with delivery excellence. hybrid operating models, which is the Target State. Without this, there is no way the next level movement on the overall effectiveness or future readiness can be achieved. ACT 5 – Capability Development Capability Development (CD) is another phrase that is much talked about but not adequately measured in GBS Quite often it is linked in a limited way to Leadership & Skill Development. In reality, this term is all encompassing and covers Knowledge Management, Innovation, Performance, Contracting, and Intellectual Property to name a few. structured approach. For this, there is no model better than eSourcing Capability Model ( eSCM ), developed by the Carnegie Mellon University and now managed by the ITSqc . eSCM is a great way to start the Assess Stage of ACT 5 and benchmark to get a holistic view of multiple aspects of capabilities. eSCM covers 10 capabilities, 84 best practices and about 700 sub practices, with focus on CAPA (Corrective Action, Preventive Action), process capability base-lining, service design, relationship management etc. for the Connect Stage towards Organizational Capability Development (OCD) covering all the 10 capabilities in a holistic manner. It covers multiple dimensions like digital culture, process capability enhancement to adopt technology, process candidates for digital technology, digital execution assessment, etc. for Digital Execution in the Target Stage. By design, Digital Execution is ‘holistic’, and NOT just limited to technology. This is also the foundation for Exponential Technologies under ACT 7 covering digital aspects like AI, IoT , AR, VR, etc. ACT 6 – Work Place Environment aim to identify key skills like intrapreneurship , design thinking, commercial acumen, basics of data science, and everything that is connected with changing work place or place of work. skills under the Connect Stage for employees at various levels. One important requirement will be for people to ‘manage not just other people but also bots’. In addition, the abilities to manage hybrid models, big data analytics, open ecosystem of tools available for various processes, business intelligence, business partnership etc. will sustain the various actions taken under all ACTs. crucial to create a talent hub and focus on A Hence, at the Assess Stage, it is necessary to establish the Process Value Chain for the C Besides the Captive and Third Party operating models , there are innovative T The crux to future readiness is for the GBS to have ‘end-to-end accountability ’ with A Practically for sustaining future readiness, CD is an important ACT and needs a C Based on this Assess output, actions are prioritized from the company point of view T Given the impact technology change has on all aspects of GBS, OCD is the spring board A This is one area where unexpected changes are still happening . The Assess Stage will C Built on this, the GBS will work to ensure development of Workplace Management T With this, the Target Stage is to get ready with workplace leadership skills that are PROCESS EDGE | MARCH 2018 | 10

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Ravi S Ramakrishnan is a seasoned business and people leader with invaluable experience of 35 years in finance, business and business process areas. He was instrumental in setting up the pioneering global offshoring operations at American Express. Having held leadership positions earlier in Hindustan Unilever, Murugappa Group and Eicher with CXO level responsibilities, Ravi is recognized as a thought leader in off shoring and business process domains. He uniquely combines exposure to multiple sectors of Indian and global corporations, and drives the vision and strategies for growth of RvaluE in the niche area of business process services through a team of professionals. Ravi is a Chartered & Cost Accountant and a Company Secretary. ABOUT THE AUTHOR multiple dimensions of new age requirements like NGS, reimagining work processes using exponential technologies, exponential ecosystem, etc.,. Global In-house Centres then truly become Global Capability Centres of and for the parent company’s business. Every GBS which can embark on this highway of 7 Tracks for future readiness can truly become a strategic asset and a valuable line of business for the parent company. . ‘ ’   ACTs 4 to 6 together ensure that GBS is able to leverage the seat at the table achieved from ACTs 1 to 3 and drive its o ther ACTs as outlined here. Connect and Target Stage readiness in ACT 1 to 6 will make the future readiness in technology a own destiny’ for GBS to make a difference to the parent company and key stakeholders . This ensures alignment of all GBS strategic actions to deliver on the corporate HQ and business/ services priorities. ACT 7 – Technology Focus Stage is obviously a focus on IT landscape of what is within the company, what kind of innovation is happening outside, and what changes are being implemented as of now. Identifying process candidates for RPA and initiating some pilots can be part of Assess stage to plan the big step forward. mitigate the miseries of traditional IT or legacy IT and work closely to enable traditional IT digital ready. The GBSCs should also aim at reducing cost on traditional IT and funnelling investments for future technologies – since this is a high priority for the CIO and the Business Leaders. This is easier said than done, but is inescapable as it provides the cutting edge to the GBS to become future ready in the eyes of the parent company and other stakeholders – in particular its own employees. Implementation of RPA and adopting AI could be growing as part of this stage, but a dominant focus on making traditional IT digital is a must in Connect stage, if GBS wants to showcase its Capabilities of providing Technology edge to parent company . A This ACT, as already seen, is the pivot on which the future of GBS lies. The Assess C Based on the IT landscape, a project with all stakeholders needs to be created to T Combining the power of digital ready IT, the landing point as a Target is the Exponential positive experience, with a smooth and soft landing. ACT 7 on technology is all encompassing, impacting the other six tracks – ACTs 1 to 6. It has a virtual cycle effect on enhancing the power and outcomes from the other ACTs. Way Forward GBS of the future is packed with a lot of action and lots to accomplish – great potential and great opportunities. ACTs 1 to 7 as a framework has been built on learning from GBSCs and the current assessment of the future. The sequence from ACTs 1 to 7 is to go from Assess Stage of ACT 1 to Assess Stage of ACT 7 and then navigate the journey forward to Connect and Target, as each track gains sponsorship, engagement, momentum and results. With fair degree of conviction, one can claim that these tracks will truly become the 7 Tracks of Highly Effective and Future Ready GBSCs. Every GBS which can embark on this highway of 7 Tracks for future readiness can truly become a strategic asset and a valuable line of business for the parent company . Also, when converted into a reality, the GBSCs will have the enviable combination of bringing the advantages of both profitability and end-to-end process perspectives for the success and growth of the core business . P E Technologies that covers AR, VR, AI beyond RPA and other automation areas. Quite often, GBSCs jump straight to advanced technologies without having established the Target Readiness on PROCESS EDGE | MARCH 2018 | 11

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R ichard Branson, Founder Virgin Atlantic, On the other hand, the internal customers were perhaps, beginning to believe that the GBSS team took a very narrow process view, without an end-to-end outlook on the composite value chain/ work-stream. They felt that the GBSS team does not take accountability for business outcomes in the manner they (as customers) would like GBSS to . It was clearly necessary to address these immediate challenges, since having a successful GBSS strategy was imperative for the future. It I have always believed that the way you treat your employees is the way they will treat your customers and that people flourish when they are praised . It was time to go back to the drawing board and introspect. After several rounds of deliberation, the strategic themes that emerged from this exercise were the need to: Enterprises Ltd’s Healthcare businesses, while the completion of planned process transitions was very much in sight, an obvious question bothering us was what’s ‘ ’   n ext? With an able team at the helm & strong leadership support at all levels, the Global Business Shared Services (GBSS) team had been able to manage systematic process transitions and achieve rapid process stabilization. However for the moment, the larger questions were about sustaining the momentum achieved, keeping the shared services team engaged & motivated and leveraging the shared services model in other operating entities within the Piramal Group so that they too can reap the benefits of this successfully running operating model of Healthcare Division. Within the GBSS, one could already see some of the challenges that lay ahead, like : Process/ Operations teams operating in silos, Inability of the GBSS team to appreciate beneficiary Business Units/ employees as (internal) customers rather than colleagues; and Poor communication with the customers, including delays and, at times, failure to respond to incoming customer emails/ queries/ complaints. said , “I have always believed that the way you treat your employees is the way they will treat your customers and that people flourish when they are praised.” In many ways what he said, sums up our experiences as well, with talent management and customer centricity. In February 2016, almost one and half years into the Phase One of deployment of Shared Services Operating Model within Piramal I Have the Power LEVERAGING THE POWER OF HIGHLY ENGAGED EMPLOYEES TO DRIVE CUSTOMER CENTRICITY NARENDRRA V ARORA We felt that the logical sequence of things should be to first address matters concerning people so that we can create the right environment and right mind-set for addressing Customer and Process Accountability and Innovation related strategic imperatives. The timing also seemed right as we were already a large team, by then. PROCESS EDGE | MARCH 2018 | 14

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Enhancing Talent Management In June 2016, we went into execution mode on this theme. We worked on a six-pronged approach to address the Talent Management related strategic priorities : Specific action steps were created and implemented to target each of the strategic priorities, individually and collectively, such as: Identified critical positions for all bands above Team Leader level and successors identified for most of these roles. In parallel, development plans of these successors got created and implemented. Monthly Town-hall meetings initiated to share operational results and showcase how the Shared Service Operations were driving business outcomes. Besides this, the forum was also used to share progress reports on current and new process transitions, introduce new GBSS employees, share functional knowledge and several other activities. Monthly functional review meetings streamlined, to put in place a defined structure and rigour to the reviews. Organized unique training programs for the GBSS team, like: A combined program for Order–to-Cash and Procure-to-Pay work-streams, such that the Supply Chain and Finance teams have an end-to-end understanding of the broader work-stream rather than only the processes managed respectively by these teams. Transactional to Transformational (T2T) – Through these 6 half-day training modules, the entire shared services team was trained and provided orientation on key concepts like Customer Centricity, Importance of Communication, Planning, Problem Solving, Quality etc. within the context of shared services. Increased performance review and development progress review meetings for the leadership team. Encouraged job rotations at all levels and created policy guidelines in this regard. Actively participated in CSR activities organized in partnership with Piramal Foundation (philanthropic arm of the Piramal Group). Several team building and engagement activities started outside the normal working environment to encourage goodwill and social participation. All of the above initiatives helped in bringing the team together and in driving employee engagement extensively. This manifested in very healthy engagement scores during our Annual Employee Engagement Surveys . Positive absolute differences vs. benchmark scores (cells with green/ dark green background) denote better than benchmark scores Summary results of Annual Employee Engagement Survey PROCESS EDGE | MARCH 2018 | 15

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PROCESS EDGE | MARCH 2018 | Customer Centricity & Process Accountability Alongside the work on People priorities, we simultaneously started working on various other fronts to embed Customer Centricity and Process Accountability within GBSS. By end of FY 2016-17 we had already done a fair bit of work, demonstrated by : Hugely improved understanding and appreciation of customer needs through Weekly Operations meetings, Governance & Review meetings, Customer Satisfaction (CSAT) Surveys and other communication channels ( VoC ) Increased customer experience by mapping each process end-to-end (with clear splits) in partnership with the business and writing clear SOPs for GBSS. Acceptable service levels were also agreed to with the business/ plant teams. Tracking key metrics specifically tailored towards company goals. Significant improvements in operational metrics was aimed at, thereby driving key business metrics Driving continuous improvement based on insights from customer feedback - from the CSAT Surveys, customer feedback calls, performance review feedback and the various governance meetings Increased visibility of the leaderships’ commitment towards establishing high standards in customer service, through townhalls , review meetings etc . Innovation Led Productivity Improvement At the start of FY 2017-18, GBSS was not only managing Finance & Accounting, but also Supply Chain and Human Resources operations for various plants and offices within the Healthcare business. As the year progressed, the team started looking beyond the Healthcare businesses to expand the shared services reach. It was imperative that the frontline staff took up a bigger role in managing the existing business and participate actively in the innovation led continuous improvement journey. Up until then, the GBSS leadership team used to front-end all key customer interactions and spearhead all the continuous improvement projects. It now became necessary to empower the frontline team so that they feel confident of addressing day-to-day customer issues without there being a need for leadership escalation. ‘ I have the Power’ was therefore conceived as an initiative to institutionalize and fast-track the Employee Empowerment & Innovation objective within GBSS. It was designed as a time bound program where nine cross-functional teams comprising of frontline staff (without people management responsibility) worked on two big impact projects each - which should positively impact: Given the significance of the project, a closely monitored governance mechanism was put into place. With this in view : Functional or Process Team Leaders were given the responsibility of being ‘Mentors’ to each team, with their roles clearly defined and communicated. A committee comprising of Functional/ Business Leads (internal stakeholders/ customer groups) was formed to review the projects ideas and score the same. A list of top 18 project ideas to be pursued by the 9 Project teams was created. Each team would thus have a total of 2 projects each – One short term, 10-week project and the other a longer term, 20-week project. A strict governance mechanism was put in place to review progress at various levels within the GBSS and beyond. A scoring framework was defined and rewards announced for the best projects and the best teams . By October 2017, all the 9 teams had successfully completed one project each. This created a huge impact in diverse areas of the business. The projects in brief were : Standardized email response to most common customer queries/ communications . This was aimed at delivering uniform customer experience by leveraging standard email templates and would save time by avoiding a need to draft a new email response every time. Introduction of P-Cards as a payment solution - for select vendor categories, to ensure timely payment and effectively expand Days-to-Pay Digitization of employee personal files – Of 6000+ employees, aimed at saving both costs and effort within the HR and Finance teams. Branding & Marketing of GBSS – By developing a GBSS capabilities & achievement program, and creating a structured internal awareness & appreciation drive within our Group . 16

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PROCESS EDGE | MARCH 2018 | Leveraging macros for automating statutory audit schedules – for F&A processes managed by GBSS. Policy for availing early payment discounts – from vendors, and a complete set of procedures to be followed for the same. Inclusion of shipping bill reference in exports invoices. This also included digitization of relevant documents for every shipment to aid compliance and ease of archival. Tracking of purchase orders with bank guarantees within SAP , thereby improving control on a potentially sensitive exposure area. Process for timely & correct accounting of late delivery charges – in cases of delayed vendor supplies The larger ‘I have the Power’ program is already a huge success within the organisation and the Group. The program, though not yet over, has created an enormous amount of positive energy in the teams – in addition to the positives of the projects themselves. The sense of achievement, empowerment and learning is omnipresent within the teams – as is more than evident in a short, quick survey that was carried out right after the completion of the first set of projects . The project teams are already working on a war-footing towards completion of their 2 nd set of projects, which are longer and larger, aimed at broader areas of impact. These projects, when implemented would have a very positive impact on how we do business and further create the impetus to the team morale . The design of the larger Talent Management Program has ensured significant improvement in employee empowerment and innovation with the result that now : One of the Values of Piramal Group is ‘Care’. In keeping with our values and with the Talent Management and Employee Engagements initiatives at GBSS, we are committed to taking care of our employees. Through ‘I have the Power’ initiative, we are working hard towards empowering our employees so that they can take good care of our customers, both internal and external and prove Richard Branson’s words true . P E - the Larger GBSS team has a platform where they get to interact with the senior leadership team of the company and gain from their perspectives; - our cross-functional learning process is on a fast track ; - leadership skills of the Team Members & Team Leaders are getting tested and honed as they get to interact with customers directly, thus helping us identify future leaders and build a robust leadership pipeline - some GBSS leadership bandwidth could be released and leadership team could focus on new businesses; - team bonding and bonhomie in the team is distinctly visible Narendrra V Arora has over 22 years of experience in various areas of Finance & Accounting spanning diverse industries in multi-cultural settings, and managing Shared Services operations of which ~9 years have been in Country CFO/Controller roles. He has led numerous initiatives to improve operations, impact business growth & maximize profits through achievements in finance management, cost reductions & internal control. Narendrra has also led several productivity improvement initiatives through best practices benchmarking, waste elimination and continuous process improvements thereby favourably impacting bottom-lines. He is a qualified CA, CS, ACCA and CWA and has earlier Worked with companies like Johnson & Johnson, Thermo Fisher Scientific, Owens Corning, Publicis Groupe & OCS Group. He is currently Vice President , Global Business Shared Services at Piramal Enterprises Limited. ABOUT THE AUTHOR 17

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“ Shri Narendra Modi’s government is very progressively working towards bringing the digital transformation in India across sectors and I personally believe that Shared Services Forum is tremendously supporting in that journey of reshaping of Indian economy” said Shri Shastri . The context of the day-long event was set by Mr Ravi S Ramakrishnan , Founder of Shared Services Forum (SSF) through his Welcome Note. He talked about the key objective of the day, “Why it is ‘must’ for all of us to take a pause, step back and think about ‘the need of continuously Reshaping the Transformation Strategy’ to effectively make organizations ‘future relevant’ by embracing rapid changes of the digital world, higher customer demands/ expectations and drive value delivery & value innovation”, said Mr Ramakrishnan. For inauguration session, he was joined by President of Shared Services Forum, Mr Sunil Sayal , Regional CFO – India, Nokia Solutions & Networks, Mr Ram Ramsundar esteemed member of the SSF Excellence awards Jury Panel and Former Managing Director, Blue River Capital and Mr Rakesh Sinha , Co-Founder, Shared Services Forum. with RvaluE , the leading Business Process Management (BPM) & Shared Services Consulting organization, as Knowledge Partner organized the Global Shared Services Conclave, 7th year in succession, on November, 24, 2017 at Le Meridien , New Delhi . The theme of this 7th edition of SSF’s Annual Conclave was: ReSHAPING THE TRANSFORMATION STRATEGY What Triggers? What Matters? What Next? The Conclave was attended by 120+ senior executives and veterans from across India, with very eminent industry leaders as Speakers and case presentations . The Guest of Honour at the event, Shri Sameep Shastri , Member, Governing Body, BRICS Chamber of Commerce and Industry, Member Bhartiya Janta Party, and grandson of former Prime Minister of India Shri Lal Bahadur Shastri , applauded the initiative of the Shared Services Forum of bringing together the leaders of the Industry on one platform to deliberate and provide their insights towards building and contributing to the growth of the Indian Economy, create employment and effectively encounter the challenges thrown up by a rapidly changing world. S hared Services Forum (SSF) India, along Become ‘Future Relevant’ by ReShaping the Transformation Strategy A REPORT ON SSF’s 7 th ANNUAL GLOBAL SHARED SERVICES CONCLAVE 2017 TEAM SSF Shared Services Forum, India felicitated Mr Priyan Fernando, Former Executive Vice President, Global Business Services of American Express as the PIONEERING BUSINESS LEADER FOR GLOBAL SHARED SERVICES and Ms Shyama A Bijapurkar , Former Global Shared Services Head at BA Continuum, HSBC and American Express as BPM ACHIEVER IN GLOBAL INDIA. PROCESS EDGE | MARCH 2018 | 18

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In his Acceptance message, Mr Fernando said “setting up of Shared Services in an organization can be done only with uncompromising grit and integrity” to challenge what he calls as “a series of interruptions, interrupted by interventions…” He recognised the footprints of all those professionals and leaders who have shaped the Shared Services Industry to what it is today, and declared that “Shared Services was pivotal to transformation and winning in the market place.” He recognized the work of the Shared Services Forum (SSF), in the creation of the “fraternity of leaders in the shared services space who are driving accountability for the highest levels of integrity and professionalism that defines our Industry .” In his most recent position as Executive Vice President, Global Business Services of American Express, he was responsible for all internal servicing of this $32 billion Payments and Services Company with presence in over 130 markets. This GBS, which Priyan built from the ground up, today delivers all financial, procurement, real estate, human resources and business transformation support across the entire American Express enterprise, is incomparable in its level of excellence and has sown the seeds of innovation for many Shared Services Organizations. Release of SSF Publications Continuing with its objective to seamlessly disseminate knowledge, Shared Services Forum released two publications on this occasion. Both the publications were unveiled by Shri Sameep Shastri , Mr Ram Ramasundar , Mr Ravi S Ramakrishnan and Mr Rakesh Sinha . Shared Services Excellence awards are designed to recognize contributions by Companies & Individuals that are broadly comparable. These are poised to become the benchmark for organizations to adopt the Shared Services Strategy. These awards were established to honor , recognize and promote transformative strategies by Shared Services demonstrating winning practices. The 7 th Annual Global Shared Services Excellence Awards, Recognition and Felicitations were conferred to the following leaders and organisations : Mr Priyan Fernando was felicitated as the PIONEERING BUSINESS LEADER FOR GLOBAL SHARED SERVICES , for his Creativity & Leading Global Shared Services and Enterprise-wide Transformation Mission, delivering Value and Impact to Business, Industry & Society. . PROCESS EDGE | MARCH 2018 | 19 A Research Report on ‘Building Capabilities for the Future and Catalyzing Transformation – Trends, Practices and Frameworks’, prepared by SSF in collaboration with Everest Group, was unveiled. The first copy of Report was presented to Mr Ashish Sehdev , Senior Director - Strategic Financial Planning, Everest Group The November 2017 edition of Shared Services Forum’s Journal, Process Edge , titled, Demystifying DxQ – Executing Digital Transformation , was also released on this day. The articles of this publication have been authored by some of the leading professionals in the Shared Services space. They have shared their successful Shared Services trajectories, best-practices, innovations and benchmarks along with the challenges faced, the out-of-the-box solutions and the excellence achieved. A must read for all Shared Services professionals at any stage of the implementation, whether initial adoption or the next level transformation. SSF Excellence Awards, Felicitations and Recognition SSF, in collaboration with its Knowledge Partner RvaluE , has instituted Shared Services Excellence Awards, Recognitions & Felicitations.

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SSF also felicitated Ms Shyama A Bijapurkar , posthumously, as the BPM ACHIEVER IN GLOBAL INDIA , in Recognition of her Stellar Contribution in a Transformational, Strategic Leadership and Operations Role, in Global India delivering Value and Business Impact. She had over 30 years of work experience in Banking, Financial Services and Business Services in large corporations and was key to the successful establishment and management of Global Finance Centres at American Express, HSBC and Bank of America, before she passed away in September 2017 . PROCESS EDGE | MARCH 2018 | 20 Ms Bijapurkar is a Role Model for many, as she faced challenges, professionally and personally, with a smile on her face . Her husband, Mr Ajoy Bijapurkar , received the Award on her behalf. The award was presented by Dr BBL Madhukar , Director General, BRICS Chamber of Commerce & Industry, on behalf of SSF. Following are the organizations which were awarded and recognized for excellence: An incredible person with exemplary conviction, accomplishments and amazing sense of purpose, Olam International for Shared Services in India (Servicing Overseas Markets) Essel Business Excellence Services – Essel Group for Shared Services in India (Servicing India Market) Syngenta Services for Delivering Business Impact through Technology Transformation Principal Global Services for Delivering Business Impact by Deploying Innovative People Practices Unilever Industries for Delivering Business Impact by Moving up the Process Value Chain Hindustan Coca-Cola Beverages for Delivering Business Impact by Exemplary Customer Experience Management Vodafone Shared Services India for Delivering Business Impact through Process Excellence Intelenet Global Services for Business Process Transformation for a Client by BPO

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The panel was moderated by Mr Narayanan Subramanyam , Chief Information Architect, RvaluE Group. The eminent speakers who presented their cases were Mr LG Moorthy , Senior Vice President & Global Head – GBS, Olam International Limited, Mr Sanjeev Rastogi , Head GDC & Regional Head SBS APAC, Syngenta Services, and Mr Kaushik Majumdar , Managing Director, Principal Global Services. Panel Discussions and Case Presentations The day’s first panel session was the CXO Interaction that deliberated on the Imperatives for Reshaping the Transformation Strategy. The eminent panelists , Mr T Chandrasekar , Vice President – Finance & CFO, IBM India / South Asia, Mr V Ganesh , CEO, Karvy Computershare and Mr Bibek Agarwala , CFO – Lifestyle Business, Raymond, shared their perspectives with the audience on connecting New age Customer Demands and Experience, achieving higher Digital Quotient, leveraging Transformation Strategy to drive Higher Performance, Capacity Building and Enhanced Predictability, striking the right balance between Talent Management, Employee Experience and Customer Experience. The second panel session powerfully deliberated and presented their cases on another trending topic of the Industry today – Transformational Strategies for value delivery and value innovation. They shared with the audience the strategies for Driving Value Creation and Innovation much beyond Cost Arbitrage, Reorganizing/ Restructuring Shared Services Operations to support Transformational Strategies, Balancing between Legacy Technology Infrastructure and embracing Robotics – Why and How, and Moving Up the Partnership value chain to become Enterprise Partner. PROCESS EDGE | MARCH 2018 | 21 Raymond – Lifestyle Business Recognized for Effective Shared Services Implementation in India The discussion was brilliantly moderated by Mr Ravi S Ramakrishnan , who kept the focus of the panel on deliberations on matters critical to organizations shaping their Transformation Strategy. The next presentation of the day was made by another eminent leader of the Industry, Mr Nitin Sahni , Director - Corporate Services, Intelenet Global, who shared his t houghts around Transforming Business Services through Embracing Intelligent Automation and Cognitive Digital Workforce . Post lunch, the Audience were treated to an extremely informative presentation by Mr H Karthik , Partner, Global Sourcing Practice, Everest Group. Karthik presented the insights on Catalysing Transformation Through GICs - Global Best Practices and Trends. The next panel session of the day was a discussion focussed around Role of Technology in Transformation and moving up the Process Maturity across Enterprise Functions. The seasoned panel included Mr Sanjay Khanna , Senior Executive with a Fortune 100 Multinational Company, Mr Navneet Jhambh , Head of Finance Shared Services & Analytics, Fidelity International, and Mr Rajiv Kapahi , Sr. Director - India Hub, Finance, Operations & Distribution, Boston Scientific. The discussion was moderated by Mr Rajesh Garodia , Chief Transformation Architect, RvaluE Group.

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Dr Madhukar was joined by the eminent Jury Chair, Mr VV Ranganathan and another eminent member of the Excellence Awards Jury Panel, Mr T Chandrasekar , also Vice President – Finance & CFO, IBM India / South Asia. Both jury members, along with Shri Sameep Shastri , Dr BBL Madhukar , Mr Ravi S Ramakrishnan and Mr Rakesh Sinha , announced and gave away the Excellence awards to all the winning organizations and individuals Rajesh kept the focus of the panel on discussions about the outlook towards Technology as an Enabler or Driver, planning for positive Impact of Technology on People, Process and Stakeholders, while deliberating the reality of the business cases. These powerful deliberations inside the hall impacted all the participants at the Conclave so much so that they carried forward the discussions very determinedly and tirelessly over a cup of coffee ! The last session of the day was moderated by Mr Anand Maheshwari , Founder Director, Quintes Global, comprised eminent panellists, Mr Irendra Chhabra , CEO & MD of Essel Business Excellence Services, Mr K V Sesaiah , Senior Director, Dr Reddy's Laboratories, and Mr Narendrra V Arora , Vice President – Global Business Shared Services, Piramal Enterprises Limited, who discussed and revealed the mantras for Scaling Up, Sustaining and Transforming Shared Services . . The Award selection process was described to the audience by SSF Excellence Awards Jury chair, Mr VV Ranganathan . He formerly was a Senior Partner with E&Y for many years where he led several initiatives of the firm including co – founding & steering the Marquee Global Program – The Entrepreneur of the Year Awards, both in India and Monaco. The day was concluded with a Thank You note by Mr Rakesh Sinha , Co-Founder, Shared Services Forum and Executive Director & COO of RvaluE Group. The delegates and SSF members continued with this valuable exchange of knowledge at the informal cocktail-dinner hosted by SSF. This annual event of SSF was supported by the following partners: RvaluE , the Knowledge Partner; Industry Partner, BRICS Chamber of Commerce & Industry; Associate Sponsors, Nokia and Intelenet Global; Research Partner, Everest Group; Corporate Sponsors, ZingHR , Kohinoor Foods, Achromic Point and Quintes Global; Academic Partner, New Delhi Institute of Management (NDIM); and Technology Partner, Muniwar Technologies. The panel discussed about the key factors responsible for transforming and sustaining shared services, which included key Challenges and Opportunities as well as pointers to gain Top Management Sponsorship and Attention, to be better positioned as the ‘Transformation Leaders’ and not getting diluted as a back office processing department. Followed by a day of deliberations was the 7 th Annual Global Shared Services Excellence Awards Evening. The evening witnessed a special address by Dr BBL Madhukar , Director General of BRICS Chamber of Commerce and Industry . PROCESS EDGE | MARCH 2018 | 22

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I ndia’s Bombay Stock Exchange, established A New Age Trading Format on the Bourses There are now several opportunities for applying algorithmic and high frequency trading strategies in India. Algorithmic trading, as the name suggests, is a computer trading program that automatically submits trades to an exchange without any human intervention. SEBI permitted algorithmic trading in 2008, and market maturity has grown manifold since then. Electronic trading now comprises more than 60% of total market volumes. Algorithmic trading is a computer trading program that automatically submits trades to an exchange without any human intervention. SEBI has supported the need for greater technological sophistication and is now expanding the scope of participation by bringing in more lower correlation with global markets, and the diversity of its equity market. Even within the country, the capital markets present an attractive opportunity for ‘ ’   traders, market makers, and hedge funds. Indian exchanges rank amongst the top exchanges globally in terms of number of contracts traded across equity, equity derivatives, and index derivatives segments. Competition amongst exchanges has also intensified. Technology infrastructure across exchanges is continuously being upgraded and trading costs have come down significantly . in 1875, was Asia’s first securities exchange where brokers would meet and transact under a tree. Indian capital markets have evolved significantly and come a long way since then. India is now an active hunting ground for global traders and foreign institutions due to the relative stability of earnings of Indian firms compared to Asian peers, the dominance of domestic consumption in the economy, relatively Trading on the Edge USING SUPER COMPUTING TO CATCH THAT ELUSIVE ‘MARKET TIP’ SANDEEP TYAGI Editor’s Note   Change and growth of Technology has always been of interest to us humans, as has been the single largest source of transformation of our lives. The advent of Shared Services, GICs and BPM companies, for instance, are a clear result of the advancing technologies which have created dramatic changes in business processes as well as in infrastructure.   The cutting edge levels of technology are being rapidly absorbed by companies for their own benefits as well as that of their customers. Shared Services, GICs and BPM companies should look outside and beyond their internal company or clients and experience how technology is changing the life of the ultimate customers. It is now time to create a structured ‘outside-in’ knowledge blueprint to remain relevant. Progressive Shared Services, GICs could do well to leverage the innovation power of technology to make a difference to their parent company or client business . participants under its regulatory ambit. It is closely watching the growth in the algorithmic trading space and continues to evolve risk-management and market framework guidelines for algorithmic trading in consultation with market participants. There are about 1750 securities traded on Indian exchanges and over 350 of them are liquid and actively traded. In a developing market such as India, there are several market variations which results in higher bid-ask and arbitrage spreads. PROCESS EDGE | MARCH 2018 | 24

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The automation of trading and post trading systems on major stock exchanges ensured that investors paid less in trading spreads for their trades and fundamentally altered the economics of the business of stock exchanges. Driven by the growing prevalence of electronic trading , there has been market-wide adoption Source: www.etmarkets.com These spreads were maintained by manual brokers, but now algo based market makers can maintain tighter spreads at a lower cost. High volumes, volatility and attractive spreads have therefore made algo trading an attractive proposition. Recognizing the benefits of algorithmic trading, SEBI and NSE/ BSE offered direct market access in India in August 2008 . There was some skepticism initially, however, market participants saw the benefit of the improved infrastructure and the share of non-algorithmic trading has declined to ~40% since then. The Indian market has evolved rapidly over the past decade and increasing sophistication amongst players, regulators, customers, and exchanges has paved the way for market-wide adoption of latest technology and an increase in market depth, breadth, and efficiency. SEBI has over the years provided the requisite push for greater technological adoption. of improved technology across the value chain . Over the last three years, there has been ~50% improvement in data and speed of execution, through availability of tick-by-tick data, improved market depth, and availability of cleaned data for back-testing. All the exchanges have been continuously investing in technology. NSE has implemented horizontal scalability to handle 10 times the current order flow. Latency has been minimized significantly, and the system can handle 2 billion order messages per second. BSE has implemented one of the fastest and highest throughput system in the world. Tapping the Opportunity The Indian market microstructure along with the conducive trading environment throws open several opportunities in arbitrage space, such as: Evolution of Algo Trading Companies The past few years have seen the rise of algorithmic trading companies all over the world. Some of the best performing hedge funds attribute their success to it. Devoid of human emotions, repelling latency, technology-oriented and fast-paced, algorithmic trading executes trading commands instantly and with accuracy. PROCESS EDGE | MARCH 2018 | 25

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The requirement of infrastructure and super specialization, both in technology as well as modern investment strategies has ensured that trade decisions have moved from single individuals to the tech systems. Business Case for Trading Companies At its core, the business is nothing more than automating trading strategies. Liquidity providers, jobbers, arbitragers have all been present since stock exchanges have been present. In the current scenario, all these functions and strategies are being automated and then optimized. The battle in the 'pits' has moved to high end servers and low latency links but the core objective remains the same. For the traders and trading firms, the business case moves from low volume, high margin case to very high volume, low margin. Strangely, in many instances there may be no “customer” of the business. A majority of trading is done with proprietary capital - so the risk and reward lies solely with the company itself. In such a situation, the “customer” at best, could be the propriety fund holder, who could well be the CEO of the trading house. However conceptually, Algo , or High Frequency Trading need not be restricted to propriety funds. The same could well be applied to a traditional model of trading on behalf of an individual (or organization) for a fee . The entire business case is based on the accuracy of prediction of market movements, as computed by propriety systems using very sophisticated strategies. Hence the “suppliers” to this business line, in most cases, would be the providers of technology applications, trading strategy experts, and data providers (the exchanges). In several cases, experts design their own strategies as well as their own trading applications. As the prevalence and popularity of Algo trading has grown in India, most commercial brokers offer access to connect via an “API” to their customers at very low or no fees. Sophisticated traders can use these APIs and develop their strategies to automatically send orders to the exchange, hence building an algo trading system from their homes. As is obvious, the use of high-end technology is critical to this business. Artificial Intelligence and machine learning are used to develop smarter strategies to trade more profitably. Some of the popular trading applications/APIs used in India are Omnesys Nest, Presto ATS, ODIN, AlgoNomics , MetaTrader and Estee . Work-flow/ Indicators/ Challenges/ Risks In a professional automated setup, most work flows are also automated. A simple standard work flow is given in the table below: WORK FLOW INPUT Market data from the exchange on a tick by tick basis. This means every change in market data is reported by the exchange and captured and assessed by the software. Change may involve a change in any bid/ ask price in the order book; change in any bid/ ask quantity; change in total traded volume or last traded price. ANALYSIS The 'strategy' process then kicks in and does an analysis on the latest tick received. The strategy process, based on its analysis decides whether any action is required based on this new input. If an action is required, it sends a message to this effect. This may be an order modification/ order cancellation/ new order generation. RISK Once the message on action required is communicated by the strategy, the message goes through a layer of risk check. This risk check layer verifies whether this new/ modified/ cancelled order would result in a breach of any of various risk limit parameters that have been set up by the risk management process. The risk management process sets multiple limits including margin check, max order size/ value check, loss limit check etc. If the new action does not result in a breach of any limits, the risk layer allows the message to go through. EXECUTION Once the risk layer allows the action to pass through, the order adapter takes the action and communicates it to the stock exchange through the communication channel designated by the exchange. The order adapter sends the message to the exchange and receives an acknowledgement which it communicates back to the Strategy as an input, hence completing the loop. MONITORING The acknowledgement and market data is also provided as an input to a central risk monitoring system which calculates margin on a real time basis as the market moves and provides updated values to the risk layer in order to allow it to check new orders sent against the most updated values. PROCESS EDGE | MARCH 2018 | 26

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Rogue Trading Prevention Methodologies Rogue trading in this scenario involves the Strategy sending messages which causes unintended consequences. Though the risk layer is meant to catch these sort of issues, however, sometimes either the risk layer is not designed appropriately to prevent these issues or is not implemented/ controlled appropriately. This leads to runaway trading scenarios sometime resulting in flash crashes as well. This is always harmful for the company in question and sometimes for the market in general as well. Since this format of trading is completely driven by systems, internal risks from employees themselves carrying out trades for their personal benefits or other intentional malpractices is low. However, as in all prop trading firms, each employee is required to submit details of all trades they have conducted in the stock exchanges and are also required to take prior permission if they trade on individual stocks (other than possibly indices or mutual funds). Such restrictions are even tighter in case the firm is involved in market research as well . Even information on trades and trading activity is guarded closely. This is primarily done through high-end firewalls and role based access systems. Special Skills The need for specialized skills for running such companies successfully could well depend upon the type of strategies followed by them. For instance for firms largely following high frequency trading, strategies or trading logic is relatively straight forward and known to all. However, the differentiating factor is execution of this strategy. Hence, technical coding skills are key – Most HFT firms would be present on Day 1 at IIT. On the other hand, firms that are Non HFT/ Non-Market Neutral trading strategies require a very different skill set. This requires a unique logic towards trading - through research/ analysis of market movements/ order book etc. - and here execution is relatively straight forward. Typically such firms hire laterally from the existing pool of traders having deep analytical skills to carry out the intensive research required. These practices can happen even in an algo trading setup. However all over the world such practices are now illegal and companies put in place strict measures to prevent this. Data Security Strategy code and logic is highly valuable IP for any company. Certain unethical practices such as ‘front running’ has happened since forever. In this case the traders themselves attempt to trade before the price changes based on an actual order is placed by their client. Combination of Machine Learning with the following technologies could create wonders: Use of nanotechnology in trading Use of crypto-currency for services Internet of Things IoT , etc. Quantum Computing Block chain technology Cloud Computing Big Data Superfast microwave transmission technology that transmits data at the speed of light What Next? India is slightly on the back foot in the cutting edge world of algo trading. The more developed markets are successfully experimenting on both increasing depth and width of trading. Applications employing Machine Learning carry out multiple transactions per second and continuously improve themselves by analyzing data. This form of ‘learning’ further refines the strategy allowing more options for finer levels of trade . On the other hand latency is being tapped and crunched even more. The use of Microwaves to transfer data has begun to show very positive trends. *Source : www.quantinsti.com PROCESS EDGE | MARCH 2018 | 27

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Transactions now happen not merely over micro seconds, but over nano seconds. Instead of a few hundred or thousand transactions (orders) a second, machines have now graduated to generate thousands of orders in a millisecond. A transformational Innovation The industry has globally and in India been a very successful contributor for the tremendous rise in market liquidity and also huge drop in impact cost, which is also a measure of cost that a buyer or seller has to incur due to the sheer lack of liquidity of any particular stock. There is no doubt that this industry has now become the norm rather than the exception by the use of computer technology, which has been nothing short of transformational. Trading at the micro level has dramatically changed the way the traditionalists thought . Weeding out inefficiencies in markets is a very important next step in a robust and stable market, which is what this industry practice does. This leads to accurate price discovery and very tight bid/ ask spreads which in turn enable and give confidence to various traders to trade in the markets. This in-turn increases market depth and reach, hence improving liquidity and reducing risk. P E Sandeep Tyagi is a quant and algorithms expert and serial entrepreneur, who has started and successfully scaled several profitable businesses. He was the founder and CEO of Inductis , a consulting and analytics firm that he scaled up and subsequently sold to EXL Service. He is also a board member of the YPO and a recipient of the 40 under 40 award from New Jersey. He is a B. Tech. from IIT Delhi and an MBA from Columbia Business School. He also holds a Certificate in Quantitative Finance (CQF). Sandeep is the Chairman of Estee Advisors Pvt Ltd, a quant-based investment management and execution and services provider. Estee is a pioneer in building algorithmic investment products and has a strong track record as an investment manager and trade execution services provider in Indian capital markets. Estee is a SEBI-registered Portfolio Manager Service (PMS) provider and a registered broker-member with all the major Indian exchanges. ABOUT THE AUTHOR Contribution of Algorithmic Trading to current Trading Volume in India Contribution of Algorithmic Trading in Global Trades Pie Chart 1 Source : Morton Glantz , Robert Kissell ; Pie Chart 2 – Source: Thomson Reuters PROCESS EDGE | MARCH 2018 | 28

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T he thing which I have learned from my The Need for Change Human Resource is supposed to be the intermediary between the organization and the people. It is supposed to first lay the foundation and then manage the rules of engagement. Our biggest challenge in developed and rapidly The changing dynamics of success stories moving from initiatives to sustenance of the tacit knowledge of human resource has largely been missed – and there lies the future challenge . developing economies has been the shortage of skilled talent pool. As this demand bloats with time, the turf war between economies is making it grim for uncompetitive economies and the My ask was to know his thought on what HR professionals have failed at in the past 20 years. His answer was “being organized”. ‘ ’   Nothing to be surprised about , except that it came from a person who spent most of his career dealing with the notoriety of unionism. My curiosity made me plunge into a deeper discussion with him on the idea of being organized from an HR professional’s perspective. The changing dynamics of success stories moving from initiatives to sustenance of the tacit knowledge of human resource has largely been missed – and there lies the future challenge. Clearly it is high time that, as technology is advancing, HR professionals should also adapt to its advancements. A hands-on approach to the latest technology with some smart thinking can bring in the change. This is where AI is playing a vital role in the industry. experience in HR is that the technology we use changes constantly, but the human fundamentals often remain the same. In one of my discussions with a veteran of the HR industry, he surprised me by throwing an answer to my question. The New Age Human Resource LEVERAGING AI FOR A HIGH-TECH & HIGH-TOUCH EXPERIENCE PRIYANKA ANAND organizations working within its periphery. Looking at Indian HR practices specifically, we mostly fail to make effective innovations in the critical operational fields, such as recruitment processes and service coordination. Recruitment platforms and social hiring as an example, have grown rapidly in acceptance but the next level of thinking in terms of combining the initial fresh hire training with recruitment is still absent. This is specially a huge gap in most HR teams’ ways of working as most often the highest levels of attrition are recorded during the initial period of on-boarding, training and ramp-up . Talent acquisition can be one of the most time consuming and frustrating aspects of our business. Of a typical outreach program, only 20% or so potential candidates are looking for change. It is tough for any recruiter to meet the ever demanding harsh deadlines and special requirements, not to mention the piles of sometimes irrelevant applications and resumes that need to be read and understood. With retention accountability and expectation of superior candidate experience, the job becomes even harder. An organization’s candidate experience is directly associated with their employer brand. Failing to attend to your employer brand can be detrimental to your organization. PROCESS EDGE | MARCH 2018 | 30

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According to a CareerArc survey, nearly 60% of candidates surveyed said they had a poor candidate experience, and 72% of those candidates shared that experience online or with someone directly. The emerging HR technology throughout the last decade has strived to take away many such frustrations while improving candidate experience and quality of hire . AI is the Present and Future Artificial Intelligence, machine learning, and other “smart” technologies are no longer something in the far-off future. In fact, they are already driving many of the innovative recruiting and hiring technologies available right now. Experience Study) say they either never or rarely receive employer notice of the decision made on their application. 60% of applicants say “better communication throughout and after the application process,” would have the most positive impact. A CareerBuilder survey found that 40% of candidates feel the application process has become increasingly difficult. Impact on Recruiters in AI Era AI is at the top of the hype cycle right now. Basically AI is a mechanism that takes a huge amount of data and crunches it into something one can easily interpret or analyze . You can ask Alexa (Amazon's voice controlled digital assistant) what the climate is and it lets you know. All it did was look into the climate report on the web, transform that information into words and shared it with you. In the hiring context, AI will be able to calculate the probability that one person will be a better hire than another by looking for patterns that come closest to the criteria you input. That is basically what recruiters do in their heads manually when considering candidates — weighing some attributes more than the others, maybe at a …if the HR and recruiting products created today are not as easy to use as the apps on our phones, people just will not use them. ‘ ’   subconscious level, which at times, leads to a wrong selection . It is in crunching the large unstructured data where AI is playing the For instance, many recruiters find it extremely tedious to respond to all applications received. 65% of candidates ( CareerArc Candidate Using AI, the feedback from the candidate can further be applied to the selection process enabling the recruitment team to easily see how each candidate ranks from the applicants selected by the platform. Having AI integrated into the recruiting process would allow candidates to ask relevant questions throughout the application process as well as provide meaningful answers from the recruitment team. Thus most of the tedious, cumbersome and time-consuming processes of recruiting are gradually being automated, which means recruiting teams are getting the opportunity to be more strategic than ever before. Important role. We all use structured data, like figures on a spread sheet that can be counted and multiplied. Let us assume we interviewed 35 people, made 14 offers and had 5 accepts. That is expressing or deriving the results from structured data. But being able to look at what someone says, or writes, and understand it and make decisions based on it, such as reviewing resumes and online profiles — that is using unstructured data. That is where AI is attempting to do better than recruiters do . AI can obviously also process data much more quickly than the human mind, but it needs a lot of data to be of value. "The more data you have, the better your decisions. You need thousands of data points to get accurate predictions. If you're only using hiring data from 100 or 150 people, you're getting highly skewed results" (Sourced from Roy Maurer’s September 2017 article on Talent Acquisition). How AI Will Affect Recruiting Chatbots are an excellent example of emerging AI based social media messaging apps. These are artificial conversational entities used in apps like LinkedIn or Facebook messenger, wherein the app automatically replies to your message and most of the time delivers an accurate response. So even the most basic chatbot can be useful for initial candidate interactions and can improve careers’ site retention. The average chatbots can schedule interviews and screen candidates with basic questions. More sophisticated ones can match candidates and do advanced search . PROCESS EDGE | MARCH 2018 | 31

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Additionally , AI can enhance workforce planning - and that is where it can be incredibly helpful. It can find patterns among heaps of data. AI will soon transform Recruitment from largely a transactional function — scheduling, interviewing, clerical routine stuff — into something that truly adds value to the company . Challenges that need to be Addressed The quality issues of the hires coming from our education system, unfortunately happens to be the next source of worry. With organizations and businesses investing significant energy and time, it is a natural obligation of HR, from a business partner perspective, to be innovative and move towards influencing quality and also relevant curriculum in the field of education. The tying-up of corporates with the fine balance of time-relevant education practices is an opportunity which is rarely being demonstrated by the HR fraternity, leaving some honorable exceptions aside. Employee retention naturally is also tied up to the same framework. The other aspect of the same issue is to move to the more unconventional forms of hiring. Contracting is likely to be the next big thing in the Indian job market, and the change management it will require will be tough. Proactive work on Compensation & Rewards is the right solution to this upcoming trend. For instance, offering personalized packages tells the employees that their personal needs are as valid as the company's business goals, and this is being justifiably enabled with the intervention of AI's tireless computing power. The HR professionals can leverage company analytics to predict employee trends and identify workforce challenges that would otherwise be overlooked, and therefore efficiently administer flexible compensation to critical talent groups . There are organizations which have found some success in this space but the learning needs to be shared. It is being concentrated to a few industries and remains to be seen as a popular choice with future employees and executives . The natural or conventional role of HR has been optimizing productivity but this has to move on from the abstracts of motivation and training imperatives. Identifying poor work practices and areas of resource crunch are examples of moving to the next level of maximizing efficiencies through technology. Disruptive initiatives both in terms of technology and internal consulting practices of governance and service frameworks have changed the new age HR. Project Management and communication at a constant pace of change has become the need of the hour for the HR professional. In some of the surveys conducted with global samples of professionals, it is to our surprise that we find the majority acknowledge the job for HR as being policies, processes and people management programs. Only a few enlisted the HR job role to be connecting the dots to enhance resource output, engagement with long term vision, business financials and technology together. This strategic alliance of these elements enables consistency in improvement objective of increased productivity without additional strain of size, cost or infrastructure. Conclusion Globalization in its youth had benefitted a lot of economies. However, the essence of the continuity lies in addition and improvement. Constant environment changes are leading to newer demands and several issues in HR domain. We are working in a compact yet globalized ecosystem where the need is to influence the input at our end, matching it with the output from the ecosystem, thus influencing the output that we further want to achieve, which is aligned to the organization vision. This can be managed when we have a technologically advanced and informed HR which is “organized” and is serious for its next role as influencers of quality. P E An accomplished business professional, with proven results in developing and leading world-class HR programs and operations across geographies to complement corporate strategy, Priyanka Anand is associated with Ericsson as Head of Human Resource MOAI (South East Asia, Oceania and India) and involved in driving global people strategy in the Market Area. With a team of more than 60 HR professionals cutting across Countries, Customer Units and SME areas, together supporting 17000 + employees present across MOAI. In her previous role she was Vice President and Head, HR Global Operations at Ericsson since April 2014 and was Vice President and Head - Human Resources at Ericsson Global Services, India from July 2010 till April 2014. She has also worked with Colt Technologies, STG and Manpower and holds the management degree in HR. ABOUT THE AUTHOR PROCESS EDGE | MARCH 2018 | 32

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W e live in an era of instant gratification. However , over the next 10 years, banks will have to also establish themselves as credible repositories of customers’ trust, and provide real-time and secure services in an automated and integrated manner. Need to Reinvent Digitally Accordingly, the conventional BFSI IT architecture will have to be reengineered for the …the conventional BFSI IT architecture will have to be reengineered for the industry to effectively serve the needs of the millennial generation. industry to effectively serve the needs of the millennial generation. The good news is, BFSI firms recognize this pressing need for digitally reinventing themselves, and have been aggressively leveraging technologies such as artificial intelligence, If a bank’s customers are not engaging with its latest app release, then it must harness user feedback to plug the gaps and roll out a revised, improved version at the earliest. If the mobile banking and Internet banking channels are currently ‘ ’   displaying different customer data, then that bug has to be fixed quickly. And so on and so forth. A failure to effectively address customers’ queries, and act on their feedback, can lead to increased client churn and diminished brand reputation . Everything we need has to be delivered on demand –anytime, anywhere we want it. Financial services are no different. As Internet and smartphones increasingly facilitate real-time payments, fund transfers, settlements and other financial transactions, customer expectations from their banks, insurers and mutual funds continue to evolve rapidly. Delivering Financial Services Faster & Better HOW BFSI CAN LEVERAGE AGILE TRANSFORMATION RAHUL SINGH blockchain and the Internet of Things ( IoT ) to create differentiated customer experiences. Every financial institution is reimagining its IT model from the grounds up. However , orchestrating this transition is easier said than done, since many of the sector’s legacy systems lack the requisite flexibility to accommodate new functionalities. Also, stringent regulations do not exactly smoothen the process for BFSI firms to partner with non-financial institutions across various industries, for enabling on-demand customer experiences . I firmly believe BFSI companies need to embrace a fundamentally “NEW IT” thinking, across the following dimensions: First , IT innovation has to be centred around customer centricity, and must be driven by data analytics to understand and address consumers’ requirements appropriately – and quickly. Second , BFSI IT must adopt “Platform Thinking” in relation to IT delivery, including experimenting with Agile/ DevOps methodologies and considering rolling out a decoupled, decentralized framework. This shift is critical for banks to be able to launch new products faster, in line with rapidly shifting customer preferences and demands. With disruptive trends such as consumerization , automation, Big Data and telematics fundamentally redefining the Banking, Financial Services and Insurance (BFSI) ecosystem, financial institutions must become more agile, responsive, efficient and innovative. BFSI companies need to build new capabilities, adopt new ways of working, embrace new workspaces, and above all, develop a completely new mindset with regard to operations, customer service and other core functions. Just to put this imperative in context, banks today are focused on delivering compelling and consistent omni -channel experiences, complying with regulation, averting fraud, and reducing costs. BFSI ECOSYSTEM AUTOMATION BIG DATA TELEMATICS MORE AGILE RESPONSIVE EFFICIENT INNOVATIVE PROCESS EDGE | MARCH 2018 | 33

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Third , financial firms must promote a collaborative work culture across their organization, as well as the broader ecosystem, in terms of encouraging a “Fail Fast” philosophy and reducing dependence on proprietary tech. Finally , they need to be flexible and scalable enough to disrupt their assumptions and operating models, based on continuous learning and rebuild, from scratch, if required. The New IT Service Delivery Framework In order to navigate this transition smoothly, financial services firms need to adopt a new IT service delivery framework that is based on the four pillars: adopt an operating model that’s built on real-time reporting and flat organizational structure. The AGILE Proposition So, how can financial institutions begin implementing such a framework? To start with, they should do a pilot to validate the Agile proposition for their organization. The trial run should involve a product revamp entailing not too many functional modules, so that a cross-functional team can brainstorm and iterate on the product’s various sub-components. Banks can then conduct group-based workshops for defining the deliverable’s core aspects with all relevant stakeholders. As part of this exercise, the team would develop user personas, capture product requirements, chart workflows, etc. The next step is to integrate the product build into a common repository on a daily basis, so that the code can be tested in an automated manner. Programmers can then iterate the build on the basis of early defect detection. The last, but not the least, phase in the Agile delivery roadmap is for BFSI institutions to end their long-held practice of separating delivery and quality assurance (QA) teams. The user acceptance testing (UAT) team, embedded into the sprint-based delivery unit, conducts tests, and identifies bugs quickly for swift remediation, thus ensuring a substantial reduction in churn. In Summary All in all, I feel we have barely scratched the surface of the BFSI IT architecture re-imagination landscape. Banks, insurers and other financial firms need to use this transition period to quickly test out or revise some of their hypotheses, and accordingly build new systems. And, I am confident the industry will significantly enhance its value proposition in the coming years by adopting a next-gen IT framework that makes them more efficient, productive and effective. P E ‘NEW IT’ THINKING AGILITY COLLABORATION CUSTOMER CENTRIC INNOVATION SCALABILITY The framework should foster rollout of Agile and DevOps methodologies for accelerated software delivery, helping the organization reduce time to market for new products and services. For facilitating increased collaboration within and outside the organization, the architecture must enable the institutionalization of a common, integrated workspace for various stakeholders within BFSI companies. For example, banks should be able to leverage the framework to tie up with universities, fintechs and third parties for ideating around and developing cutting-edge solutions. To ensure rapid innovation, the framework also needs to help banks smoothly align themselves with cutting-edge tools and technologies, such as cognitive systems, artificial intelligence, machine learning, blockchain and Big Data. Finally, for ensuring robust IT governance, the framework should ABOUT THE AUTHOR Rahul Singh is President of HCL’s Financial Services Division. He is responsible for managing and steering the business, developing relationships with clients and taking long-term investment and strategic decisions to meet the technology and operation needs of the financial services and Fintech clients . Rahul brings with him over 30 years of experience across outsourcing, technology, banking and financial services. He is widely recognized as an industry pioneer in the Business Process Outsourcing (BPO) segment for financial services in India and has been the recipient of SSF’s ‘Pioneer BPM Achiever’ award in 2016. He is now an authority on the impact of the Fourth Industrial Revolution on financial services. In 2018 he was invited by the World Economic Forum in Davos to present his thoughts on innovations and emerging opportunities in the investment industry to a select group of CEOs, bankers and technology leaders . PROCESS EDGE | MARCH 2018 | 34

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PROCESS EDGE | MARCH 2018 | 35 I mplementation of various elements of BPM processes is done in one or more locations across enterprise functions such as Finance, Human Resources, Information Technology, Operations, Supply Chain, Customer Life Cycle Management, Etc. BPMS on the other hand, has two major components - BPM Systems and BPM Skills & Capabilities . BPMS is a single or a group of software systems that automate and simplify the task of managing business processes, supplementing or complementing the ERPs. BPM Skills & Capabilities are increasingly playing a pivotal role in enabling all other dimensions – BPC, BPT & BPM systems. Business Process Transformation (BPT) refers to improving/ transforming the way things are done. Incremental changes can be called improvements (BPI) and radical changes and fundamental rethinking or redesign are called reengineering (BPR). The illustration below brings forth the holistic approach of BPM for business processes. by GICs have not only enabled them to build the required capabilities to sustain themselves for future but also successfully effectuate transformation . Today GICs are at an inflection point in their evolution journey, as they have expanded beyond providing low-cost delivery to being agents of change – for enterprises’ back- and middle-office services. The market has now grown to ~2,668 centres across leading offshore locations, compared to ~1,885 GICs in 2010. In fact, 134 new GICs were set up in 2016 alone. BPM (Business Process Management) refers to any initiative in the business world leading to a change or an improvement in the processes for the betterment of the customer, shareholder, employee and other stakeholders. Effective adoption of BPM – Key Elements Business Process Consolidation (BPC ) of the Highlights from the Research Report on ‘Building Capabilities for Future and Catalyzing Transformation’ TRENDS, PRACTICES & FRAMEWORKS TEAM SSF Continuing with its objective to seamlessly disseminate knowledge, Shared Services Forum released a Research Report on ‘Building Capabilities for the Future and Catalyzing Transformation – Trends, Practices and Frameworks’, prepared by SSF in collaboration with Everest Group. The report was unveiled on November 24, 2018 at SSF’s 7 th Annual Global Shared Services Conclave . Below are some Highlights from the same report .

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PROCESS EDGE | MARCH 2018 | 36 This research report studies the delivery trends, practices and frameworks for global services , with a focus on GICs as they account for a quarter of the global services market , small-scale GICs (< 500FTEs) comprising 70% of GIC market share. BPM has a major role to play in ensuring that mature GICs elevate their “ticket to play” by delivering additional business impact. Global Services Industry Trends – focus on GICs The global offshore services market was estimated to be around ~US$175 billion in 2016 and it continues to grow in terms of ‘New Delivery Centres’. GICs support a range of functions – Provide IT, BP, and R&D / engineering services support to their parent. Aggressive adopters of GIC model have achieved significant penetration from India GICs (For instance, >40% for typical IT/BP services. Technology and communication vertical leads in terms of number of GICs; BFSI dominates the GIC market in terms of headcount with nearly 40% of the overall industry workforce . Source: Everest Group (2017) Prioritize investments Identify role: Follow/Influence/Lead Revamp talent and operating model Adopt business-outcome metrics Creating breakthrough results in digital requires an end-to-end business process view, right from back-office to front-office. GICs will face hiring challenges for multiple skills important in the future which include intuitive, innovative, design thinking, pattern recognition, problem solving and leadership. 58%* GICs believe that up skilling/reskilling will be a key lever to address the changing skill requirements. They are also revisiting their talent acquisition and development strategy. Call to Action for GICs to Catalyze the Enterprise Digital Agenda Distribution of GICs by vertical Number of GICs and FTEs, 2016 Building Capabilities for the Future – Practices Disruptive forces – technology-led disruptions, increased focus on business outcomes and talent management – are creating an inflection point for GICs to lead enterprises’ transformation agenda. Share of digital in scope of services delivered from GICs shows an increase from 12% in 2013 to 28% in 2016. RPA implementation has the potential to result in cost savings (driven by reduction of headcount) of 20-25 %. Clients are expecting a different services model to meet ‘new’ value expectations – effort elimination, outcomes and innovation. Core mid-office (e.g ., Operations & Production ) Market-facing front-office (e.g., Sales and Marketing) Back-office (e.g., Procurement, F&A, HR) Source: Everest Group (2017) Frameworks for Building Capabilities Through this research report, SSF aims at enabling businesses and GICs to establish new benchmarks in BPM excellence and deliver ‘new’ value in their business outcomes. P E Source: Survey on " Upskilling /reskilling in GICs" with 80+ GICs Everest Group (2017)

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I magine you are travelling on a Saturday Lacked a single interface with a single source of record Lacked a user friendly client interface & self-service capabilities Reporting needed a lot of customization and was not very flexible Carried a high costs for license, upgrades and support Was lacking of efficient knowledge repositories Had poor vendor services The Service Management team at Syngenta Global Delivery Center has consistently delivered results much better than the industry standard since last couple of years and transformed itself into a Center of Excellence in a short span of time.   Clearly it was time to seek out alternative options . Extensive study and current industry standards helped us to choose ServiceNow (Modern SM tool) as our global Service Management platform. IT effectiveness is directly proportional to the user or customer satisfaction, which is key to the success of IT function. Taking inspiration from the above but not limited to such best practices , the ‘ ’   Service Management team at Syngenta Global Delivery Center has consistently delivered results much better than the industry standards and transformed itself into a Center of Excellence in a remarkably short span of time. The Background A legacy IT Service Management (ITSM) tool was used in Syngenta for many years. This tool was being used by 40,000+ Syngenta identities, including suppliers across globe (EAME, NA, LATAM, APAC), serving all IT related support services. Most of the users were unhappy with this tool and there were huge costs being incurred for its support and usage. Overall, there were quite a few challenges with the legacy ITSM environment, such as : It was heavily customized and no tangible benefits Its inability for end-to-end delivery of IT services, including project governance and documentation afternoon. You feel hungry and you stop by a pizzeria to order a pizza. Within few minutes a fresh, hot and delicious pizza arrives. You satiate your hunger and continue with your journey happily. What if the pizza took an hour to arrive or you were served the wrong order? You would have been rather disappointed, or even upset. To provide a remarkable customer experience it is critical to be both prompt and accurate. IT Services cannot be an exception to that rule. Connected Customer Experience AN INNOVATIVE CASE OF IT SERVICE MANAGEMENT TRANSFORMATION ANAND RAJHANS The expectation was to extend its capabilities to all business functions (HR, Finance, etc.) within Syngenta Business Services and enable a ‘One Stop Shop’ for all services. The Mission The journey started with selecting the right methodology for the ITSM platform and tool management. Traditional methodologies pose many challenges in terms of cost, customer satisfaction and agility. They fail to measure up to the expectations of the customers in terms of speed and flexibility, thus compromising on the user experience. The new platform would have to counter these lacunas and cover people, process and technology from scratch. To do this effectively one had to use the best technology available and implement Dev -Ops methodology. Dev -Ops methodology puts the customer first and offers significantly better quality, improved efficiency, more reliable releases and above all saving on cost and time . PROCESS EDGE | MARCH 2018 | 37

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The Ambition A clear statement of ambition set the direction. Extensive research and benchmarking was done. While the implementation was on, peer implementations too were studied. The team at Syngenta Global Delivery Center set up the Dev -Ops function following the vision set up by the Management. Based on the success of the local team, the team was expanded to global locations like Manchester UK and Basel, Switzerland. The Dev -Ops team was set up in Dec 2015 for the tool as well as Service Management. Within almost 6 months of its inception a Center of Excellence for the service covering the Technology, Process and related Consultancy was functional. The service was shaped as user-centric to aid the related service transformation, leading to simplification and ease of use for the clients. This capability for technology management also created a foundation for Service Integration and Management (SIAM). The team had become a proud pioneer of the same within the organization. Our Vision To create an Internal Capability to deliver superior technical services to our customers using an integrated, flexible and modular approach The Concept One can find a striking commonality between Object Oriented Programming concepts and the nature of the Dev -Ops function. The behavior of the different elements are carefully designed and accordingly the structure created. In the diagram below, right hand side of the cube represents Operations part of Dev -Ops where inputs like incidents or service disruptions get converted to service restorations . The incidents or service requests get fixed into respective production client(s) and represent the reactive part of service. The problem management tickets and updates to knowledge management end up in the implementation of proactive part of service operations. The left hand side of the cube represents the Dev part of Dev -Ops. The user stories are the inputs which get converted to implemented functionalities in the production client to serve business as per their requirements. All the requests passing through the cube are governed by a governance board represented by all the relevant stakeholders. The top sphere on the cube represents the Steering Committee for setting up the strategic direction and to finance the project . Figure 1.1: Dev -Ops and Polymorphism; the function behaves differently for different inputs with relevant outputs in the production system(s) The Transformation As the CoE (entire function) was being created from scratch, almost all the elements in the context were defined anew. At the beginning, only tool administration was put in place. The support model was setup to serve clients globally in their respective time zones by the central team working in shifts. It started with IT Operations Management (ITOM) by supporting the implemented IT Infrastructure Library (ITIL) processes for the company. The operations and development teams were finally set up, led by an operations lead and a solution designer respectively . Dev -Ops – Journey Towards SIAM Importance was given for cross sharing the knowledge and internal training and growth of the resources. Some of the highlights were: Seamless integration between day-to-day operations, support & development Highly innovated team Very lean approach Faster turnaround Higher CSAT Retaining the knowledge by in-house solution design Figure 1.2: The Dev -Ops Concept PROCESS EDGE | MARCH 2018 | 38

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The Governance Structure A governance mechanism was set up at two levels: At the product level a Steering Committee (SC) was put in place to set the strategic direction for the tool. This committee consisted of some of the most senior members like CIO, SBS head, Global Finance Services Head, Global HR Services Head, Global Delivery Excellence Head, and so on. This committee was to provide the finance and support the organizational change management from the top, amongst other things. Operational governance was put in place by setting up a Governance Board (GB). It consisted of members from different business units, Client Service Management, Global Service Desk, Application Support, Infrastructure Support teams and so on. The GB provided approvals for small changes and small projects. The requests got discussed within the GB in the form of user stories. Healthy debate and dialog was encouraged between the members. Figure 2.1: Governance Board run by Solution Designer, Dual hatting as a Scrum Master User Stories Distribution & Management Figure 2.2: Solution Designer distributes the work in the form of user stories, can choose best talent for development and has a full control over the development and deployable being developed. The Operations Any user on the company network could submit an idea, enhancement or a change request through a catalogue item as a user story. All the requests would get scrutinized by Operations Lead. If necessary, he could get into a one-on-one discussion with requestor to get more details. Once approved by Operations Lead the story would move to the GB for debate run by the Solution Designer. After due approvals from the GB, the Solution Designer would prepare possible solutions based on one or more user stories. If necessary Solution Designer would create/ fine tune the user stories to distribute it to the appropriate teams to develop and test. ServiceNow (SM Tool) Dev -Ops Getting into Details.... PROCESS EDGE | MARCH 2018 | 39

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It can help IT functions to reduce corporate cost and at the same time increase agility, customer satisfaction and employee satisfaction. Above all, it reduces the dependency on suppliers and by retaining the knowledge within the organization . Once the user story is ready after testing, the Solution Designer would integrate the same to create a deliverable. If necessary, further rounds of testing would be carried out. Solution Designer could also select appropriate resources for testing as well. Using this methodology, the Solution Designer would have the complete accountability of the tool blueprint and the technical knowhow remains in-house. Development happens in modules ensuring freedom from any single resource or supplier . Building a Services Management Capability The following figure shows capability development services that were delivered across The Achievement This unique function is delivering astounding results. A supplier independent and vendor neutral framework is delivering information technology service to business in a most agile way. This framework can be adopted to work with most cloud based tools and platforms. It has enormous benefits and can be extended to broader IT community . Figure 2.5:The framework has enormous benefits and can be extended to broader IT community functions, across geographies by using the Center of Excellence. The Outcome Best of All Worlds There were several examples of successful outcomes, strategic and tactical, related to the service. Release 4 will be covering the complete HR Management project and a few more technical released Key points Syngenta will be using the maximum capabilities of the tool suit by 2019… Release 3 covered E to E master data management setup. Automation and partial asset and stock management Key points Manual effort reduction with time saving of 2 Hrs , cost saving $13 per ticket for a territory support Turned the tool with high business season requirements Release 2 covered Finance Services, a Pilot Implementation for HR Services Indonesia and Thailand and Technical Upgrade by Internal team Key points Unified tool made customer experience way better, reduced complexity in IT Landscape Benefits realization from internal team set up Mobile version created customer delight and usage became platform independent Only HR pilot saved more than $100K Project started with legacy ITSM tool replacement including knowledge management tool set up Key points First place achievement $1.5 Mn YoY savings Created In-House team ; >$200K YoY savings compared to vendor quote Set up Dev -Ops methodology first time in Syngenta (Results – Incident resolution rate ~90%WoW; CSAT ~90% --- Avg3 days per user story delivery Presented Syngenta-Snow Success story in vendor conference (Knowledge 16) at Las Vegas PROCESS EDGE | MARCH 2018 | 40

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The Turnaround Technical services suppliers are integral part of the eco-system we operate in. As a part of this journey we were able to set up a framework of third party technology services suppliers who work in niche technologies. This has helped us to create a supplier independent service. Another advantage of this framework was to get the best resource to develop required user stories. This has enabled us to upscale and downscale the team quickly, as required by the situation. A robust and scalable platform was created to deliver and manage end-to-end delivery of IT services, including project governance and documentation. This platform is being used across the functions of the organization (IT, HR, Finance, etc.). A negligible level of customization was allowed on the tool to maintain the sanctity of production client. This has helped in getting the tool version(s) upgraded under control by reducing cost of ownership. Further, this gave rise to an in-house Knowledge Management Platform which could be converted to Innovation Management Platform with a small effort. The team has proven the capability to lead and be a role model to all the insourcing CoEs in the company . CATEGORY ADVANTAGES Customer Delight Higher Customer Satisfaction (approx. 90%) Enables 'Bring Your Own Device'; this DIY feature empowers users to get the real time reports Journey towards one support tool and service. E2E view across functions – General IT, HR ticketing, Finance ticketing, Cloud Orchestration, Facilities Management, CMDB, end user portal, KM platform and many more Device/ Platform independent operations; Can be used on mobile and iPads – can be accessed over iOS , Android, Windows platforms Cost & Complexity The team was set up within 40% budget of the strategic supplier quote in India and later it expanded to other countries with their own budgets Low Cost of Ownership – $ 250 K Year to Year savings; The CoE payback has been $ 1Mn so far Very low OR No customization; easy to maintain and operate Single source of truth for all analytics requirements The SM tool database is primary source for all the service related data Very low cost of upgrade and version maintenance – these upgrades are being done in 10% of the costs of the upgrades of predecessor Internal Capability & Knowledge Retention The tool, the service, business and technical changes completely managed by the internal team; All users are clients for the in-house team. Due to the network of third party suppliers, and no dependency on a single supplier for services, the enablement to upscale and downscale the team in a faster and agile way Knowledge remains within the company – the tool and technical architecture, related blueprints and designs are owned and maintained by the company Solution Designer. The in-house team supports the tool which manages approximately 50000 tickets every month across the Business Services (IT, HR, Finance) The following table shows how the Quantitative and Qualitative results converted in company’s favour. Graph 3.1 : Heavy use of the tool across geographies and functions Graph 3.2: High Customer Satisfaction across functions and geographies PROCESS EDGE | MARCH 2018 | 41

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What Next? Following the success of the SM tool CoE , several possibilities have opened up following the same principles. Security Operations CoE and Identity and Access Management CoE are two areas which are being pursued actively. This framework is now being promoted as an open framework by the Open Group organisation to be used by the wider Service Management community by customizing and adopting to the individual needs. The Group has awarded us Presidents award in the category ‘Innovation and Excellence’. They are also planning to create case study to showcase this achievement . P E Graph 3.3: Consistent Incident Resolution performance since last 2 years Anand Rajhans has over two decades of experience in Information Technology industry. In his experience he was instrumental in establishing I.T. delivery teams for large international MNCs in India and Europe. He is an electronics engineer and a product designer from IIT Mumbai with MBA degree from Erasmus University, Netherlands. Anand has demonstrated expertize in end to end implementations of various business solutions and major transformations to enhance client experience and business productivity. He has worked with many of the world’s largest brands including Jaguar Land Rover, Tata Motors, Syngenta, DHL, ABN AMRO, Thomas Cook, Microsoft, Pratt and Whitney, General Electric, KLM Cargo and many more. He is also the Winner of the IT Next 100 CIO Award, 2017. ABOUT THE AUTHOR PROCESS EDGE | MARCH 2018 | 42

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MILESTONES OF SSF FROM 2011 TO APRIL 2018. TO BE CONTD… 2012 FIRST-OF-ITS-KIND RESEARCH & SURVEY REPORT ON ‘SHARED SERVICES ADOPTION BY INDIAN ORGANIZATIONS’ RELEASED 2013 RELEASED FIRST-OF ITS-KIND BPM PUBLICATION ‘BPM IN GLOBAL INDIA – THE INFLECTION POINT FOR COMPETITIVE ADVANTAGE’ 2014 FIRST EDITION OF THE PERIODICAL SSF JOURNAL – PROCESS EDGE – ‘NOT A CHOICE ANYMORE’ UNVEILED 2015 A UNIQUE RESEARCH & SURVEY REPORT ON ‘BPM & SHARED SERVICES LANDSCAPE IN GLOBAL INDIA’ RELEASED 2016 LAUNCHED THE FIRST-EVER ‘ PROCESS MATURITY MODEL’ ( PMM) TM 2015 INITIATED THE FIRST LEADERSHIP INTERACTION EVENT IN MARCH 2015 FOR A NICHE AUDIENCE OF LEADERS AND VETERANS, TO BE HELD PERIODICALLY ACROSS DIFFERENT LOCATIONS IN INDIA 2017 RELEASED THE RESEARCH REPORT ON ‘BUILDING CAPABILITIES FOR THE FUTURE AND CATALYZING TRANSFORMATION’, PREPARED IN COLLABORATION WITH EVEREST GROUP 2018 SSF IS PARTNERING WITH BRICS CHAMBERS OF COMMERCE & INDUSTRY TO HOLD THE FIRST EVER HR LEADERSHIP SUMMIT TO BE HELD ON 27 th APRIL IN THE LAST 7 YEARS , SSF HAS CREATED A FRATERNITY OF SHARED SERVICES LEADERS IN THE SHARED SERVICES SPACE WHO ARE DRIVING HIGHEST LEVELS OF ACCOUNTABILITY, INTEGRITY AND PROFESSIONALISM THAT DEFINES OUR INDUSTRY. 2016 RELEASED BPM PRACTIONERS GUIDE – ‘REBOOTONG BUSINESS PROCESS STRATEGY TO OUTCOMPETE ’ 2016 ‘BPM ACHIEVER IN GLOBAL INDIA’ AWARDS TO HONOR EXEMPLARY LEADERS IN THE SHARED SERVICES SPACE LAUNCHED 2014 INSTITUTED THE PIONEERING LEADER AWARDS TO RECOGNIZE AND HONOUR STELLAR CONTRIBUTIONS BY DISTINGUISHED INDIVIDUALS IN SHARED SERVICES SPACE BE A PART OF THIS INCREDIBLE JOURNEY WITH SSF. PARTICIPATE AT OUR ANNUAL CONCLAVE AND OTHER EVENTS TO STAY ABREAST WITH THE CURRENT TRENDS IN THE INDUSTRY, IDEATE WITH VETERANS & PRACTIONERS, PUBLISH THOUGHT LEADERSHIP, BE RECOGNIZED FOR INNOVATIVE WORK AND EXCELLENCE WITH BUSINESS PROCESS MANAGEMENT (BPM). 2011 INSTITUTED SHARED SERVICES EXCELLENCE AWARDS FOR ORGANIZATIONS 2011 INITIATED THE ANNUAL CONCLAVE EVENT (HELD EVERY YEAR) WITH THE 1 st NATIONAL SHARED SERVICES CONCLAVE

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42 RvaluE Group is Celebrating 12 Years of Excellence 12 Years of Excellence RvaluE signifies ‘Realizing Business Value’ THROUGH OUR PROVEN SET TM FRAMEWORK BPM Pioneers & Team of experienced Practitioners, Consultants, Facilitators and Coaches, we at RvaluE , offer niche comprehensive services and solutions covering Redesign of Business Processes & Offshoring, Developing Talent and Capabilities of Individuals/ Organization, Industry Expertise for BPM strategy adoption, execution, transformation, technology and enhancements and Innovative Solutions for Operations across Indian / Overseas Organizations, Shared Service Centres and the BPM Ecosystem RECOGNIZED AS 20 MOST VALUABLE BUSINESS CONSULTANT COMPANIES!! Converting Support Functions to Line Functions (F&A, HR, IT, SCM, Ops.,…) DOMAINS Phone: +91-11-2667 4814, +91-11-26674920 I Mobile: +91-9958840404 Email ID: contact@rvalueconsulting.com www.rvaluebs.com I www.rvaluels.in I www.sharedservicesforum.in Recognized as 20 Most Valuable Business Consultant Companies Consultants Review, Jan 2016 CFO India Magazine 25 Most Promising Business Consultants in India, Consultants Review, Dec 2014 What is the Industry saying about us… Sustain Global Standards of Service Excellence Realize Full Potential of BP Services Become Strategic Consultants to Corporates OUR SERVICE SPECTRUM MAIL TODAT, December 2017

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