A new business operating model is enabling both an agile response to increasingly powerful customers’ demands and enterprisewide efficiencies — maintaining end-to-end value delivery while balancing global and local needs. We call this model integrated business services. With these services, you can conceptualize, implement, and deliver ongoing value through persistent, small, multiskilled teams that drive and own business outcomes, integrating capabilities from multiple organizations’ functions and processes. This report lays out the vision for the integrated business services model and shows how CIOs can help apply the model by transforming governance, strategy, sourcing, and delivery.