Introduction While the concept of end-to-end process design for Order-to-Cash (O2C) has been around for a number of years now, the reality is that a large number of companies are still struggling to make significant progress in that area. While the benefits of such a design are clearly documented, the challenges inherent to making this […]
Introduction A variety of electronic payment options for suppliers have been around for a number of years now, but a significant percentage of vendor payments are still made by paper check. This is especially true in North America, which tends to lag behind the rest of the world in this area. Since the 1980s, when […]
Introduction An effective governance structure can strengthen Shared Services in a number of different ways, including its alignment with company goals, resource prioritization, and focusing on the needs of its key stakeholders on a more comprehensive basis. The approach taken in regards to Shared Services governance can vary somewhat depending upon such factors as the […]
Introduction Achieving compliance with company travel policy can help control overall travel spending and increase employee confidence by creating a culture where employees are confident that all employees follow the same rule book to comply with policy requirements. Whether or not deviations are intentional or simply mistakes or carelessness, processes that appropriately detect and correct […]
Introduction The use of a call center, help desk, or service desk to provide a focused point of contact for internal and external customer inquiries can be effective in reducing costs and complexity, as well as a method to capture and categorize reasons for process variations and defects by formalizing the response process and analyzing […]
Introduction One way to cut through the excitement and get clarity on what results are real and what is hype is to consider a very simple measure – the number of bots that have been fully implemented. While a company might have a compelling story about how successful they have been, with a high-tech professionally-narrated […]
Introduction Being able to effectively evaluate the reconciliation frequency for balance sheet accounts can involve the review of a variety of factors, both quantitative and qualitative. While the ultimate objective of balancing effective controls with process efficiency is the same for all companies, the level of effort and overall approach to designing the appropriate schedule […]
Introduction As companies continue to mature in their approach to Shared Services in such important ways as geographic design, integrated services, and advanced technology, it is critical to ensure the staff finds their work fulfilling and that the workplace is one in which they look forward to participating in each day as the team works […]
Introduction In a world of heightened scrutiny for anything out of the ordinary, the cost to a company for missteps that become public can go well beyond the out-of-pocket expenses, with a direct hit on the stock price and a reduction in brand value. One of the areas of exposure is the travel expense reporting […]
Introduction When we looked at the organizational alignment of the Credit Function in one of last month’s articles, we noted that Credit was part of an Order-to-Cash process in Shared Services for 39% of companies, with 22% having credit reporting into Treasury. The majority of companies, at 75%, were either very satisfied or satisfied with […]