| |September 20199DIGITISATION IS TRANSFORMING CONVENTIONAL BUSINESS MODELS WORLDWIDE, PROVIDING AN OPPORTUNITY FOR BUSINESSES TO GROW AND SERVE CLIENTS FROM THE CAPTIVE CENTRESthe industry are key factors that will support in achieving better growth in the coming years as well. Employees at offshore units have deep domain knowledge that enable them to execute com-plex projects effortlessly for the parent company. Transformation is clearly witnessed in the IT ser-vices sector's hiring trends, where they are overtaking the number of people hired by local IT and back office organisations. The primary reason for this surge in hiring can be attributed to the technology & innovation-driv-en work done at offshore centres. These services at GICs are for glob-al markets and the captive cen-tres are evolving to the next level, driving innovation in addition to leveraging economies of scale and lower-operational costs. Digitisa-tion is transforming conventional business models worldwide, pro-viding an opportunity for business-es to grow and serve clients from the captive centres, with the lat-ter gaining prominence in global markets. Ramping-up of GICs are happening at a much quicker pace today, where they are playing the role of digital transformation cen-tres. It is a fact, digital disruption is certainly leading the GICs towards impressive growth. With abundant talent in science, engineering, re-search and development that are available in countries like India, the growth is much faster than those locations with a dearth of qualified professionals.Technological disruption has also changed business structure and priorities of enterprises. Hy-per connectivity, data proliferation, improved capabilities, and faster go-to-market cycles have impacted many industry verticals, from au-tomotive to retail and healthcare sectors. IT budgets have gone up significantly as compared to that of past, prior digitization across organisations of varying sizes. GICs are now playing a key role, supporting enterprises to adapt themselves to a digital workplace, supported by the former's highly skilled employees. Global indus-try leaders are now confident that GICs in India can play a major role in the digital age. It has become an investment priority to grow off-shore centres.GICs are set to play a bigger role in the future, but need to focus on improving domain knowledge, data science, AI, Robotics, Data Analytics, Machine learning, and Cloud Computing, among others to provide high value work. This is far away for the conventional, transactional tasks done at the cap-tive units of the past. Leadership team has to continuously focus on priority areas of digitalisation, besides having a grip on cost con-trol and business accountability, which in the long run will enhance enterprise profitability. Besides achieving operational excellence, GICs must understand the mar-ket needs, demands and changing customer preferences to remain competitive. For transitioning to the GICs of the future, they have to collaborate with academia, indus-try bodies, startup incubators and take a holistic approach to achieve faster growth.Innovation as key to excel-lence should become a part of the DNA in GICs of the future. Their mission should be built on speed-ing-up digital transformation for enterprises and other small & me-dium businesses by actively part-nering with them to strengthen the digital workplaces. It is certain, GICs in India will continue to wit-ness robust growth in the future, by playing a more active role in tech-nological innovation and collab-orating with the entire ecosystem enablers, far from their original traditional role!
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