Recognizing the successes of Shared Services employees can have a widespread favorable impact on the entire Shared Services operation, typically with just a relatively small investment of time and capital. There are a variety of approaches to employee recognition, depending on the culture of the company, that include group and individual recognition and formal and […]
Even with the proliferation of ERP systems in recent years, the accounting close continues to be a major resource drain for most companies. To streamline this critical process, many companies have adopted the use of a variety of third-party tools that are now available in the marketplace that are designed to seamlessly interface with the […]
Without a specific and deliberate focus on the customer, a Shared Services operation is little more than an internal processing center, regardless of the type of services it provides or it’s level of proficiency in doing so. The bottom line is that ultimately delighting the customer on a consistent and ongoing basis is the one […]
While it is important to have a well-designed process and system for the Travel Expense function, without a strong policy that properly balances the needs of both the company and the traveler it becomes difficult to have a successful program. Unfortunately, there is no universal policy that will work for every company. In fact, it […]
The Payroll function is one of the most common process areas in which companies leverage the benefits offered by third-party providers. However, in some cases, companies decide that they would like to bring this critical function back in-house after having this type of outsourcing arrangement. This can be a very challenging initiative to carry out, […]
There is no disputing that the Customer Master File is one of the most critical repositories of information for a major corporation, regardless of their industry, Accounts Receivable system, or geographic location. Ensuring that the policies and controls surrounding its integrity are properly instituted and maintained is an extremely important activity that must be carried […]
To help improve the accessibility of their Shared Services operation to both internal and external customers, as well as deliver a more consistent and higher level of customer service, a number of companies have implemented a Global Help Desk as their “front end” for key processes. For the purposes of this research, a “Global Help […]
While companies continue to strive to minimize the frequency of out-of-pocket transactions by their employees, it is very difficult to completely eliminate this type of spending activity. Practices around out-of-pocket reimbursements to employees can vary significantly between companies, with no single ideal solution that works for all. Recently, a poll was created using Peeriosity’s iPollingTM […]
Shared Services organizations can, and should, play a critical role in managing and maximizing working capital. While collaborating with Procurement on vendor terms and Treasury on cash management is a common practice, one obvious solution that is often overlooked is the manner in which the invoice due date is calculated. Recently, Peeriosity’s iPollingTM functionality was […]
Achieving success in Accounts Payable is all about eliminating process exceptions. Perfection happens when invoice details match exactly with purchase order and receipt details, without any intervention or rework required. The metric used to measure the rate at which this error-free event happens is called the First Pass Match Rate, and the goal of every […]