The concept of shared services is said to have been introduced in the '80s and driven by a number of major corporations with multiple business units seeking ways to reduce administrative costs.
Digital transformation, on the other hand, is generally thought to be the hot topic of the 21st century but in fact, sprung up in the late '90s.
As the world began to computerise processes over the past 30 years, digital activities have mushroomed. Today, anyone wondering if they should have a digital transformation strategy in their company has already missed the boat.
Digital transformation is driving every aspect of not just modern business but of life itself, with the proliferation of digital apps for every sector, including banking, retail, hospitality and more.
According to Gartner, many companies implement global business services to improve the maturity of their shared services but end up with little to no return. It goes on to state that the top companies improve their shared services model by driving value, enhancing credibility and staying ahead of new technology trends.
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