Shared Services organizations around the globe have recovered millions of dollars in lost profit for their companies through formalized recovery service processes within their Accounts Payable functions. A PeercastTM in the Peeriosity Accounts Payable research area featured a global Shared (Business) Services organization that is the leader in their industry and has suppliers in over […]
Background Most companies aspire to find the optimal balance between global scale and local flexibility. From an efficiency view, a single global payment-processing center may be optimal, but depending on any number of factors, may not be practical. Member companies within Peeriosity for Shared Services recently completed a benchmarking exercise, which included information on their […]
Shared Services (and Global Business Services) organizations can drive efficient processes with strong controls as the result of the implementation of Lean Six Sigma. Coupled with a Business Process Management (“BPM”) methodology, these efficiencies can extend beyond Shared Services to entire global processes. The use of formalized quality methodologies within Shared Services has been an […]
Shared Services organizations have implemented imaging and workflow technology for years to improve the efficiency of processes that were paper and approval-intensive such as Procure-to-Pay and Quote-thru-Cash. However, many Record-to-Report process activities have been slower to embrace the technology that can not only reduce paper flow and e-mails but also track and facilitate required approvals, […]
The best technology and processes in the world will not deliver superior results if your Shared Services team is not fully engaged. The challenge for Shared (or Business) Services leaders is to create and maintain an environment where their teams are performing at the highest performance levels; identifying and implementing value-creating initiatives and projects while […]
Recently, a Peeriosity member company launched a poll question within the Corporate Card research area targeted to the Corporate Card Managers from global organizations. The question turned into some great collaboration on best practices to attain the objectives of global scale for cost benefits, as well as to preserve the flexibility to maintain or enhance […]
Since we originally published this post on December 1, 2011, there have been further developments that are noteworthy for US-based card administrators. According to an article in the Wall Street Journal on February 28th (see link below) a number of banks, including J.P. Morgan Chase, Wells Fargo, and US Bancorp have begun offering EMV cards […]
Companies put a great emphasis on developing support models for their external customers. But what about support models for the internal customers who execute all of the activities to deliver value to the external customer? As Shared (or Business) Service organizations continue to expand into multiple functions and expanded geographies, many organizations have found that […]
There is no doubt that the technology exists to design a seamless, and paperless, Procure-to-Pay process within any organization. Once designed, the term “herding cats” comes to mind when describing the challenge of fine-tuning the roles and responsibilities of people within the Procure-to-Pay process. However, when the roles of people within the process are well […]
Implementing end-to-end process design can be a powerful way for your Shared Services operation to evolve to the next level of adding value to your company. Tremendous value can be realized when an entire process, such as Purchase-to-Pay or Order-to-Cash, has a coordinated enterprise effort under the oversight or direct influence of a single organization […]