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 […]
Peeriosity benchmarking data suggests that, while many companies embrace the idea of moving towards a Global Business Services model with a broad scope of services and a large geographic footprint, less than 20% of companies have ambitions to deliver global services from a single location. The model most likely to be embraced is to implement […]
For the end-to-end Travel Process, Shared Services often has responsibility for the Expense Reporting portion. The Corporate Travel function, where activities such as travel bookings and negotiating travel discounts take place, doesn’t necessarily align with the Expense Reporting process and often does not report into Shared Services. Recently, a Peeriosity member representing a $50B+ global […]
One of the most popular approaches to implementing Shared Services is to take processes as they exist today and transition them, largely unchanged, to a centralized location. While there is an appeal to getting through a difficult transition quickly, one possible downside is that even with the best intentions to document current processes, they were […]