Global capability centers (GCCs) are riding a wave of renewed interest and expansion, notably in India, and increasingly worldwide. Yet, this enthusiasm has led to some cyclical patterns of “boom or bust,” driven by persistent risks, including a loss of focus, cost competitiveness, and organizational neglect. Despite these challenges, GCCs maintain their pivotal role in enterprise sourcing strategies, complementing global systems integrators (GSIs) in varying proportions. Read this report to understand how to navigate these risks and avert a potential “bust” cycle.