The introduction of global processes for Travel Expenses, combined with new capabilities to collect and analyze data from multiple sources, creates new opportunities for companies to make dramatic changes to how the travel expense report process is designed and administered. One of the most highly impacted areas is the expense report audit process, where using […]
Working Capital Management is one of the most valuable services a Shared Services operation can deliver to the company. While the focus may be on efficiently processing Order-to-Cash transactions, such as Billing and Cash Application, there is great added value in the analysis of receivables and identifying and implementing solutions to increase cash flow. A […]
The accrual process can be quite simple if a Purchase Order is used and a receipt is entered since the receipt will likely generate an accrual automatically. However, if items are purchased that are not received, or purchased without a PO, everything gets a little more complicated. In a Shared Services environment, providing flexibility for […]
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 […]
In the words of Meg Wheatley, renowned writer and consultant, “The things we fear most in organizations – fluctuations, disturbances, imbalances – are the primary source of creativity.” The best companies recognize the importance of continuous improvement in all processes, including General Accounting. To be effective, continuous improvement must include both fixing processes that are […]
For companies that are not headquartered in South America, making decisions on how to best support operations in the region is complicated not only by language barriers but also by a range of local and national statutory requirements for how business transactions are completed and documented. This is particularly true for Brazil, the 7th largest […]
Peeriosity members recently participated in the annual Corporate Card research area surveys for both the Purchasing Card and Travel Expense process areas. The survey collects specific information related to clearly defined activities via Peeriosity’s online data collection tools. Excluded activities are also defined to ensure the benchmarks are comparable. Along with the Shared Services Back-office […]
For many, 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 within the same legal entity, in multiple currencies, with highly automated processes for any remaining Intercompany Accounting transactions required for legal and tax purposes. For […]
There is general agreement that Shared Services is a business model that enables resources to be leveraged across an entire organization, resulting in lower costs with agreed-upon customer-service levels. In other words, Shared Services is not simply another attempt at cost reduction through centralization, since the focus goes beyond savings from consolidation to include continuous […]
The Shared Services model emerged in the mid-1980s at about the same time that Internal Audit processes were being redesigned with the introduction of control self-assessment techniques where the testing of controls is completed within the organization by the same people who are responsible for the process, and thus have the most knowledge about how […]