Not just bouncing back, we are staying ahead!
Resilience of companies is tested in turbulent times like these, how we brace the impact of the unknown, improvise and redefine business models for a sustainable near future. The pandemic has forced us to think out of the box, reinvent business models and adapt to this new normal in the shortest span of time.
Like everyone, SBS was also caught off guard and had to create new protocols and norms and drive a sense of purpose within our workforce who had to reorient themselves to working from home. In hindsight, our journey through this pandemic fell broadly into three phases – Respond, Recover and the Reimagine phase.
The 3R’s of our new normal
How we responded
- Sometime in early March 2020, even before COVID was declared a pandemic SBS had begun taking the necessary precautions for the safety of our employees. Thermal checking and sanitizers gave way to the meticulously implemented work from home arrangement to ensure that employees don’t commute to work and are working in the safe confines of their home.
- Owing to the critical nature of the work involved, for the clients who had approved work-from-home (WFH), our colleagues had been equipped to work from home and considerable progress was made towards attaining business as usual in a short span of a few days to support our clients.
- SBS had/has replicated employees’ homes with the infrastructure they have access to in the SBS offices – secure extended VPN connectivity to servers and applications, technology infrastructure that adhere to compliance requirements and ensure the security of its operations and any additional solutions that may be needed to augment people to have team collaborations and virtual client meetings. SBS quickly progressed to building productivity metrics around this new way of working.
- In entering this new normal of working from home, we held/continue to hold our scheduled internal and client meetings on online platforms at designated “official hours” to maintain a work discipline.
Measures we took to recover
BUSINESS CONTINUITY was rolled out in two phases
- Critical process service recovery – Here the objective was to make sure critical processes are covered under the first phase of WFH and ensure that there was no impact on the deliverables. We utilised this time also to test the WFH arrangement as this model was never adopted and implemented at this magnitude and scale. During this phase, 60-70% of work was processed through the WFH model and the rest was a combination of processes where clients did not approve or where we were unable to procure and provide the WFH, understandably due to an unprecedented surge in demand and the logistics involved in reaching far away locations of some of our employees.
- Expanded WFH post the lockdown measures enforced by the government – Here we expanded WFH to clients who gave us the approval and were able to cover between 90-100% of their processes.
RAPID REMOTE TRANSITION (RRT)
- Implementing a robust transition plan is the key to an offshoring engagement where SBS undertakes a process study before the transition. Given the current situation where there are restrictions to travel, the RRT Model entails a 14 day compressed and remote transition process to help clients navigate a quicker transition of their processes. We have a detailed step by step guide and a value-added roadmap from “Transition” to “Go live” that ensures organisation-wide commitment from both the client and offshoring provider and this helps in status reporting to the key stakeholders.
FLEXIBLE PRICING AND ENGAGEMENT MODELS
- SBS is cognizant of the fact that the current situation warrants short term plans to enable us to respond to the emerging situation as it unfolds, hence we have devised flexible working models and pricing structures to support the short term needs of all the stakeholders we are engaged with.
- SBS maintains a pool of skilled employees with shared expertise who can be leveraged to manage attrition and ensure the sustainability of the engagement without any impact on the deliverables. Under the given circumstances, staff may be having difficulties trying to deliver work or may not be able to resume work. Hence the client need may be temporary. We can help such clients tide over this situation by providing skilled resources thereby eliminating the expensive talent acquisition cost at short notice, not to mention the time lost in bringing them up to speed.
How we reimagined our service offerings
As the crisis is far from over, SBS is committed to helping business leaders determine the right engagement model during the pandemic and for the post-crisis period by providing visibility on which aspects of their business models will face challenges and how to adapt to their evolving needs.
The response and recovery phases did not just stabilize us; they also threw up opportunities for SBS to move up the value chain and cater to the diverse client requirements triggered by the pandemic. Consolidation of services with a single provider and an opportunity to become the end to end partner also propelled us to go beyond our existing capability of Finance Process Outsourcing (FPO) and augment it with Robotic Process Automation (RPA). We developed the “Business Process Management – Smart Souring framework “with these 2 key enablers – RPA powered automation solutions and FPO; a combination of the two go hand-in-hand in driving efficiencies and are a natural fit for most organizations, becoming the perfect catalyst for lasting digital transformation.
Being industry agnostic, our vast experience and in-depth knowledge in providing transformation solutions extend across companies of all sizes as we understand the nuances of how outsourcing and automating specific functions can be instrumental in driving growth and profitability.
BPM-SMART SOURCING FRAMEWORK – Helping you Embark, Engage and Execute on your transformation goals
The 3 step BPM- Smart sourcing Framework at its heart assesses the organizations’ readiness to transform and scale and whether the needed capabilities are in place to address the resulting demand shifts. Through our integrated Automation through RPA and Business Process Outsourcing solutions, the BPM –SSM framework acts as a diagnostic tool that disrupts the status quo by:
- Providing a flexible framework that allows all stakeholders to operate efficiently
- Increasing agility and responsiveness to tackle any unforeseen crisis in future
- Breaks through the organizational silos and overcomes institutional inertia through a collaborative approach