Understanding the current environment
In today’s turbulent environment, Corporate Services functions (Procurement, HR, Finance, IT, and Legal) have never been more important. In the face of technological disruption, increasing regulation, fast-changing customer needs and a competitive talent market, Corporate Services have a vital role to play in supporting businesses and providing a platform for growth.
For every external market force, there is an internal organisational opportunity, from embracing AI and automation, responding faster to regulatory change, to rethinking the employee experience.
External disruption
The amalgamation of fast evolving customer expectations and cost pressures has put traditional business models under severe pressure to continuously adapt – to stay relevant and competitive, and, ultimately, grow.
The continuing growth of technologies – like AI and automation – is changing the way in which products and services are delivered and consumed. Organisations need to embrace these innovations or risk being left behind, whilst remaining cost efficient.
With increasing competition for talent and changing employee expectations, organisations need to find new ways to access critical skills and capabilities – and create an appropriate employee experience.
As digital disruption accelerates, and ESG expectations rise, regulatory obligations are becoming more onerous. Organisations will need to adapt a mindset that places compliance at the centre of strategy – rather than being seen merely as a reporting burden.
Internal opportunities
More and more organisations are transitioning to ‘value streams’ or product-led structures to meet customer demands. Corporate Services need to become highly responsive to rise to this challenge.
Integrating new technologies and modernising existing systems can be complex and costly, but Corporate Services are presented with enterprise-wide solutions to achieve compatibility, enable automation, manage data migration, and control cost to serve.
Leading organisations are adapting a mix of automated workforce planning and customer experience best practices to revolutionise the ways employees can move through their careers to enhance employee experience and meet the dynamic talent needs of the firm.
Through a combination of early investment and a top down approach to governance, organisations are finding ways to build a culture that responds continuously responds to increasing regulatory demands.
To keep pace with rapid technological change, Corporate Services functions should collaborate to leverage common platforms and systems and share data. Embedding environment social and governance (ESG) means integrating ESG metrics into strategic goals and centralising Sustainability teams to align every function.
Ultimately, the future of Corporate Services should involve shared services connecting across the core value streams of the business – unlocking end-to-end cost efficiencies, innovation and growth.
To thrive amidst uncertainty, Corporate Services should act in a collective and integrated manner, characterised as FASTER: Front office integrated; AI enabled; Sustainability at the core; Technology and data enabled; Employee and customer centric; and Regulatory compliant.
Characteristics of FASTER Corporate Services
Front & middle office integrated
Front & middle office integrated
By embracing end-to-end processes and seamlessly integrating front, middle, and back offices, Corporate Services functions can unlock significant value creation. Enable this further through global business services capabilities, where cross functional and streamlined operations drive tangible results.
Artificial Intelligence enabled
Artificial Intelligence enabled
GenAI has simplified adoption of AI capabilities and accelerated value realisation. Corporate Services are swiftly integrating GenAI solutions to boost efficiency and enhance competitive advantage securely, rapidly. and at an enterprise level.
Sustainability at the core
Sustainability at the core
Sustainability is no longer optional; it is a non-negotiable imperative demanded by stakeholders across the spectrum, from employees to governments. As the heart of business operations, Corporate Services are uniquely positioned to champion the ESG agenda and drive meaningful change.
Technology & data driven
Technology & data driven
Technology and data are revolutionising Corporate Services, not only by enhancing efficiency and effectiveness but also by creating a platform for transformative change across the entire enterprise. This presents a once-in-a-generation opportunity for business leaders to harness technology’s power and propel their organisations towards a future of unparalleled success.
Employee & customer centric
Employee & customer centric
Leading organisations prioritise people in their strategies. Technology enables both standardisation and hyper-personalisation. By mapping customer and employee journeys, Corporate Services can deliver superior, individualised experiences while ensuring consistent and efficient processes.
Regulatory compliant
Regulatory compliant
Reactive compliance efforts are costly, time-consuming, and detrimental to reputation. Corporate Services play a critical role in proactively aligning the organisation with regulatory requirements, ensuring seamless execution and preventing value erosion.
“The Future of Corporate Services is connected. We need to see shared services connect across the core value streams of the business - thereby unlocking end to end cost efferences and growth”.
Adrian Clamp,
Global and EMA Lead,
Connected Enterprise, KPMG International
