Having formal methods for process reengineering and process improvement are core requirements for any Shared Services organization. With many methodologies to select from, formal Lean Process Mapping may not be the first tool selected. However, in many instances, the positive impact of completing a formal process mapping exercise is well worth the effort. An interactive […]
Transitioning work activities into a new service center is a step that has been completed by hundreds of companies and, with the exception of acquisition or divestiture events, typically occurs in abundance early in the lifecycle of Shared Services. Closing a major regional service center is a significant event that isn’t often planned for, or […]
The approval process for the huge number of transactions that are recorded within each functional area of any multi-billion dollar business becomes more daunting as work processes are centralized into large processing centers. Approval processes often evolve over time with different approaches and philosophies used by different functional areas, making coordination and the sourcing of […]
Every department in a business typically goes through an annual planning process of some type that includes setting both the budget and tactical objectives for the upcoming fiscal year. Because Shared Services is often viewed as a “business within the business”, created to support a diverse set of processes across multiple functions, business lines, and […]
Simplifying processes to eliminate unnecessary complexity and work steps has the greatest impact when the scope is across a large client base, spanning multiple business units and geographies. With common systems and a global organization increasingly the norm, more companies are pushing to complete the puzzle by implementing common work processes that require standardization, with […]
We are all familiar with the statement that “change begins with measurement”. When we look at the range of metrics used in Shared Services measuring what happens within Shared Services is almost always carefully defined, and tracking touch-points with other processes is increasingly a component. More difficult, but yet perhaps more important is the need […]
As implementations of Shared Services transition from traditional work activities (albeit on a larger scale) to the new roles and responsibilities required to deliver redesigned processes (that often cut across geographies and functional boundaries), it becomes increasingly difficult to define job positions and set compensation structures. Having accurate position descriptions and being able to define […]
While creating a high-performing workforce starts with a progressive hiring process – by including problem-solving, customer service, and conflict management skills as part of the selection process – it doesn’t end there. Creating a culture of support and mutual respect with carefully designed programs to allow employees to balance their work responsibilities with life responsibilities […]
The Sarbanes-Oxley Act of 2002 added new requirements for public companies doing business in the United States to ensure the accuracy and integrity of financial information. Since the implementation of Sarbanes-Oxley (SOX), many other countries passed similar reforms, with each company determining the optimal structure for meeting compliance requirements. With Shared Services often being the […]
The world’s leading Shared Services organizations have a clear understanding that ongoing success requires an embedded culture where operational excellence is pursued aggressively at all levels of the organization. It is no coincidence that the top performers are the most likely to be active participants in best practice research communities. “Being the best” is a […]