More and more companies are standardizing functions across people, processes and technology. Such “standardization at the core” positions them to achieve cost savings, increased customer satisfaction and improved competitiveness, says Anand Sankaran, senior vice president and business head at Wipro Infotech and global business head — infrastructure and services for Wipro Limited. Companies that share components and processes across product platforms can develop differentiated products efficiently and be more responsive to market changes, says Karl Ulrich, vice dean of innovation at Wharton. According to Morris A. Cohen, Wharton professor of operations and information management, standardization has made way for “servicization,” wherein products are sold and delivered as services. They share their insights on the subject in this white paper produced by Knowledge at Wharton and sponsored by Wipro Technologies.