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 […]
While the primary attributes of any successful shared services implementation can be segmented into the categories of People, Process, Technology, and Strategy, the categories are both interdependent and constantly changing during each phase of implementation and beyond. The process of Knowledge Management – the act of capturing, developing, and sharing organizational knowledge1 – is critical […]
Whether planned or not, your Shared Services organization has one or more terms that you use to describe your internal clients – the other employees of your company that whom the organization interacts. While it may seem trivial, the terms you use can set the tone for interactions and contribute both positively and negatively to […]
You are probably familiar with the phrase “change begins with measurement”, and many will agree that clearly defined and standardized processes are the ones that are most likely to top any performance measurement chart. Unless everyone on your global team receives regular updates on new procedures and has easy access to process documentation, process deviations […]
The transition to, and ongoing evolution of, Shared or Business Services comes with major challenges, including transformation related to technology, processes, and most importantly, people’s roles and responsibilities. The impact on internal and external customers, senior management, and the Shared Services team, requires a well-planned and executed change management and communications strategy to enable success. […]
At a minimum, Shared (Business) Services are counted on for cost reduction and quality of service. However, by ensuring the alignment of Shared Services objectives to organizational strategy, the unrealized value of Shared Services can be unlocked and leveraged to the benefit of all stakeholders. A Peeriosity PeercastTM in the Shared Services Leadership research area […]