Australia is making the most of its name as a burgeoning country for developing transactional economies with blockchain, and oil companies BP and Castrol have now announced that they will be working on shared platforms in the nation.
BP and Castrol’s shared services organization has selected Australia and New Zealand to shape the future of their global deployment plans.
The organization, known as Global Business Services (GBS), looks to work with Australia on the allocation of its shared services and strategies that allow for greater efficiency in transactions, resources and finance.
Some of these facets include HR, IT&S, customer service, finance, logistics, sales and scheduling. Financial services undergo outsourcing to Accenture.
The main driver of this project is BP’s aim to move away from what it terms a “geographic, business-led operation to a process-driven model in order to improve standardization and efficiencies.”
Australia’s reputation as a nation at the forefront of these kinds of technologies is already attracting big names such as IBM, and this move from BP and Castrol will be a further coup in growing and developing shared services programs.
In 2011, BP realized that although it had outsourced some of its processes in a move to create efficiency savings, this led to 85% of the outsourcing going through Bengaluru, India. The oil company had a need to better diversify its geographic processes to make the most of its technological capabilities. There is now greater scope to do so.
BP has been working through its shared GBS platform with Castrol since 2012 to find new ways to create end-to-end processes around the world. However, the recent proliferation of blockchain technology has changed the way that processes can link together in a transparent manner. The ability to track processes quickly and tie them to certain locations regardless of where they are based removes the worry of having geographic process functions held in different locations worldwide.
GBS operates from locations in Melbourne, Hungary, Chicago, Cape Town and Malaysia. It now plans to primarily immerse its operations in the Australia and New Zealand region to deliver a major transformational change.
In a statement, GBS said that it has decided to roll out a “global program to modernize and transform.” The Australia and New Zealand region is the testing site for all changes, which will then expand “to the other GBS centers globally.”
Hailing “a fundamental shift in thinking,” GBS hopes that this move will positively affect its business operations in a “downstream” capacity and allow it to make more decisions based on effective data informed by the latest technological capabilities.
In terms of timescales, GBS expects “key strategic projects” to already be in place in Australia and New Zealand before the end of 2019, which should enable a global rollout the following year.
It would appear that plans for the Australia and New Zealand region to be the hub for GBS’ “integrated innovator” improvement processes have been in place for a while. Although other countries will also benefit from the developments, this is another piece in Australia’s portfolio to show itself as a home for streamlined technology platforms.