The nemesis of every successful Shared Services implementation is the challenge of maintaining momentum after transferred work processes become stable and routine. While this is true for sponsors and customers, there is no group more critical to consider than the employees who work in Shared Services. Creating enthusiasm, excitement, and motivation in a mature organization […]
With the high-volume transaction activity found in the majority of Order-to-Cash (O2C) environments, the use of workflow technology to streamline operations is an approach more companies are embracing. A recent Peeriosity PeercastTM in the Accounts Receivable research area featured a large pharmaceutical company that has developed a powerful workflow solution to simplify their O2C operation. […]
Centralizing travel expense report processing as part of Shared Services requires a more sophisticated approach, with travelers and reviewing managers located hundreds, if not thousands, of miles away from the processing center. Yes, placing responsibility and accountability with the department manager responsible for the expense is necessary, but that does not fully excuse Shared Services […]
It’s common for Finance & Accounting leaders to be asked “How many days does it take your company to carry out the monthly close?” However, the follow-up question not typically asked is “How painful actually is your closing process?” The financial close continues to be one of the most critical and time-consuming efforts for the […]
The benefits of using a global process owner for any major process area include increased process standardization, better leveraging the use of technology, and more consistent policies, to name just a few. For the major technology company that was recently featured on a Peeriosity PeercastTM, utilizing Business Process Management (BPM) in conjunction with the global […]
Payroll is the one process that by definition impacts every single employee in the company. When looking at reducing the cost and complexity of payroll processing, much attention is given to increasing direct deposit rates, using pay cards, and eliminating paper pay advices. While all are important, for some companies a very effective approach to […]
When designing a performance measurement system for Accounts Payable, it is important to understand the reasons to measure and the outcomes desired as a result of completing the measurement process. While it’s true that change begins with measurement, it is equally true that understanding the “what and why” for measurement is an important first step […]
The move to Shared Services provides companies the opportunity to have large repositories of data in one place, captured and organized, ready for analysis and data mining. Gone are the days, for example, when negotiating favorable purchase terms required buyers to contact the vendor to find out what was purchased, and how much, because data […]
Having a talented pool of employees is a key success factor for any Shared Services organization to achieve in order to reach the highest levels of performance. Unfortunately, it is also one of the most difficult objectives to accomplish, with the demand for top-quality talent always high both inside and outside the company. Making this […]
Background A key component of a Peeriosity membership is the ability to benchmark quantitative performance in eight key process areas, and the ability to see differences in structure and design for 28 different business processes that are often candidates for Shared Services. This research abstract looks at the composite results of the structure and design […]