Transitioning decentralized processes to a Shared Services design can be challenging regardless of which functional areas are being consolidated. Even companies with prior consolidation experience can run into roadblocks that cause added complexity and delays, with each new project having its own unique twists and nuances, regardless of the quality of the project plan or […]
While becoming a paperless operation is an important objective for the majority of HR Shared Services operations, actually accomplishing this can be a major challenge. Legal and regulatory requirements in many countries across the world can be significant obstacles to overcome, with the use of innovative process design and technology often the keys to success, […]
Service Level Agreements (SLAs) are a common tool used during the implementation of Shared Services to set service and performance expectations with operating units. Over time, the focus and structure of SLAs may change or, in some cases, the use of SLAs may be discontinued. Many factors influence the best type of SLA to use […]
It is no secret that extensive use of automation is one of the key success factors for any Order-to-Cash operation, regardless of the industry or geographic location. The challenge for many companies is developing a comprehensive strategy to identify and deploy the powerful technology options that are now available to companies across the globe. The […]
For companies with operations around the world, using a structure that includes a large number of legal entities, the process of properly booking transactions for activities that occur between entities can be a daunting task. Having one Shared Services organization using either a global or regional delivery model, where processes can be standardized, can make […]
With several innovative cloud-based software solutions designed specifically for the Purchase-to-Pay process now available, companies have the opportunity to leverage advanced functionality without a large IT investment or a complex implementation project. Such providers as Ariba, Coupa, and Taulia are growing rapidly as companies continue to migrate to these extremely powerful and flexible solutions, and […]
Record-to-Report (R2R) can cover a wide range of internally-focused accounting processes connected with the recording of transactions to comply with financial, legal, and tax requirements, with outputs including performance reporting, plus management, legal, tax, and treasury reporting. Unlike other common end-to-end processes including Purchase-to-Pay, Hire-to-Retire, and Order-to-Cash, the associated work processes are insular to the […]
For a large number of companies, Intercompany Accounting processes have improved dramatically over the past decade, with the introduction of large-scale accounting systems capable of booking all sides of a transaction for business units with the same legal entity, in multiple currencies, with highly-automated processes for any remaining Intercompany Accounting transactions required for legal and […]
Before getting into the details of HR Shared Services governance, it’s helpful to understand the evolving framework for Shared Services, with a closer look at where companies are today. While many lessons learned along the way can be applied across companies, your situation for HR Shared Services will have elements that are unique and are […]
With the great success experienced by companies across the globe in consolidating and streamlining processes through the use of the Shared Services model, those skill sets are becoming quite valuable to companies as they strive to simplify the operations across the company as a whole. Such complex initiatives as major system implementations, process mapping, and […]