Introduction Developing a robust set of procedures for Corporate cardholders is only effective if there are processes in place to ensure that employees with credit cards are properly trained. Upfront validations and backend controls for review and approval can reduce the financial risk; however, transactions that don’t comply with company policies can be frustrating for […]
Introduction Prior to COVID-19 many leading Shared Services / GBS organizations had some type of flexible work arrangement policies in place as a way to improve morale and create trust with employees by allowing them the flexibility to work around childcare and other non-work activities that are difficult to accomplish outside of work hours. When […]
Introduction As the global economy recovers, Shared Services / Global Business Services organizations are under increasing pressure to both understand and influence the key factors for attracting and retaining talent. At Peeriosity, member companies can easily see the approaches of their peers, with the ability to directly connect with peers facing similar challenges, as a […]
Introduction Historically, the alignment of the Payroll function has been debated between HR and Finance as to where it belongs. Some argue that synergies with HR provide for the best fit, and others state that Payroll is a Finance function because of all the accounting-related transactional complexities. The growth of Shared Services and Global Business […]
Introduction With companies increasingly moving to Shared Services or Global Business Services to provide Accounts Payable services, and with Purchasing activities (both indirect and direct) typically split between either centralized or decentralized organizations that are almost never part of Shared Services, coordinating an end-to-end design for Purchase-to-Pay can be a significant challenge. Fortunately, software providers […]
Introduction The move to Shared Services / Global Business Services for many large companies with multiple locations and business units has provided tangible benefits that go well beyond cost savings, with improvements to the accuracy and efficiency of many related work processes. As Shared Service organizations have increased the scope of their services, they are […]
Introduction While many companies realize significant savings when first transitioning to Shared Services, uncovering additional savings opportunities can be a challenge without the proper focus. One attribute of many successful Shared Services operations is a well-established Continuous Improvement program that is ingrained into the culture of the operation. The topic of Continuous Improvement (or Continuous […]
Introduction While many companies have a well-designed process for handling invoices associated with purchase orders (POs), the non-Purchase Order (non-PO) related invoices can often be much more challenging and the cause of many exceptions. These invoices often arrive at the location making the purchase, complicating the process for approval and invoice submission for processing at […]
Introduction Designing and implementing a robust performance measurement process in a key success factor for Shared Services or Global Business Services organizations. Doing so correctly involves more than simply adhering to a balance scorecard approach, where you have defined measures for cost, quality, productivity, and customer satisfaction. Performance measures need to be tailored to meet […]
Introduction We’re all familiar with the statement that “what’s measured improves”. Internal and external customers for the Accounts Payable process are willing and able to provide detailed information about problems that exist from their perspective, but many companies don’t have good methods or techniques in place to track these issues and related corrective actions. Including […]