How to inspire collaboration between your teams
Marty Borcharding, Engagement Executive, Capgemini’s Business Services
An incumbent team learns their value as consultants to the business
There’s no question that digital transformation has already affected every industry in the world. Whether that transformation is something as simple as using cell phones to help manage stock levels on a supply chain, or as complex as using bespoke sensors to help predict the maintenance needs of a fleet of vehicles or social media data to predict the success of a new film and tailor marketing spend. For the most part, digital transformation presents a positive change to an organization, a way to deliver work faster, smarter and better.
But in the case of the media industry, digital transformation is as much a challenge as it is an opportunity. People are consuming more content and media at a greater pace than ever before. They’re expecting it to be delivered in greater volumes, at a lower cost, and on the devices of their choosing. The following story shows us how one global entertainment brand is keeping up with audience demands by evolving their shared services model, and what it takes to get there.
At the top of their game, a major entertainment company decided to outsource aspects of their finance and accounting functions to improve their internal efficiencies and productivity. It was still in the early days of streaming video services, but the global media and entertainment giant recognized the growing trend for digitally-based content, and inferred the knock-on cost implications, resulting in the need for greater internal efficiencies. Capgemini was commissioned on a small project to begin with that helped provide services across the client’s business units.
Over time, the relationship has evolved, to the point where Capgemini now provides a scalable “as-a-service” model that allows them to manage spikes in demand acquisitions and the external factors that affect it. With the introduction of skilled global delivery teams armed with new tools, process optimization, automation, robotics, and a flexible shared services model, the client’s internal team were free to turn their attention from just managing finance and accounting operations to providing a consultative service to the wider business. This has in turn led to their developing and recruiting a greater number of technically inclined creative thinkers and problem solvers, focused on the greater, strategic vision for the business.
The nature of the relationship between this client and Capgemini has evolved over time, necessitated by new competitors entering the market, and the growing expectations of media consumers. It has moved from a fixed cost model to a variable cost model—a more on-demand, “as-a-service” model. This is in line with the client’s mission to continually increase the quality and efficiencies they can deliver to the wider business. Key to this has been aligning the client’s and Capgemini’s teams and creating a shared platform for institutional knowledge. This has led to greater collaboration, and a bolder attitude towards innovation between the two.
Initially, change management in the organization posed a problem, with the internal teams having to redefine their roles in light of the introduction of a hybrid shared services model.
However, as part of their investment in BPO, Capgemini and the client underwent several stages of rigorous education, wherein the Capgemini team learnt about every aspect of the client’s business lines, and the client in turn, came to understand the Capgemini business cycle. Significant investment across the business in technology including new management tools, automation, robotics, process optimization, and a new learning and development platform played an important role in enabling the global hybrid shared services model to succeed.
The client’s workforce has welcomed and adapted to the new model, realizing the greater benefit they can deliver to the business as capability brokers. They now trust Capgemini’s team to predict and deliver finance and accounting (F&A) operations including surges in demand in line with seasonality, and to have adequate resources available to deliver during these peak times. In the meantime, they focus on adding value to the business in the form of business performance analysis and technological consultation, safe in the knowledge that the day-to-day operations are being expertly handled.
Marty Borcharding, Vice President and Engagement Executive, Capgemini’s Business Services, explains: “The type of people (the client) now recruits for are more strategic than traditional accounting professionals. They are technologically curious creative thinkers who focus much more on driving future business value, they are comfortable in dealing with constant change and welcome the opportunity to make a difference—helping to guide the business towards new ways of thinking and running their operations.”
The teams regularly meet now to look at ways to further improve process, and or opportunities to introduce new digital solutions to the business. And it’s not just the client who has seen the talent requirements of their team shift along with the evolving model.
“For our teams it’s not just about the ability to do transaction processing or understanding how to do journal entry or reconciliation. We look for people with business acumen, an obsession with quality and service, and the leadership to communicate vision and mobilize teams to make it happen.”
- A more strategic internal team that delivers greater value to the business
- A fully scalable outsourcing model that is better able to meet and address new market challenges including volume fluctuations.
- Ongoing drive for digital innovation