{"id":2617,"date":"2016-06-08T17:57:14","date_gmt":"2016-06-08T17:57:14","guid":{"rendered":"https:\/\/www.peeriosity.com\/shared-services\/articles\/?p=2617"},"modified":"2022-07-28T23:22:40","modified_gmt":"2022-07-28T23:22:40","slug":"expanding-the-scope-of-shared-services-into-non-traditional-service-offerings","status":"publish","type":"post","link":"https:\/\/www.peeriosity.com\/shared-services\/articles\/2016\/06\/expanding-the-scope-of-shared-services-into-non-traditional-service-offerings\/","title":{"rendered":"Expanding the Scope of Shared Services into Non-Traditional Service Offerings"},"content":{"rendered":"

As Shared Services organizations demonstrate to the senior leadership within their company the ability to optimize processes and drive out waste, the opportunity often can arise to expand its scope of services into less traditional areas of the company, such as Financial Planning & Analysis, Facilities, Office Services, and Supply Chain Finance<\/a>, to name just a few of the potential candidates.\u00a0 As the typical Shared Services functions, such as Accounts Payable, Fixed Assets, and Payroll, continue to become increasingly automated through the application of advanced process design and technology<\/a>, expansion into additional process areas will not only result in the customary results of cost reduction and increased productivity, but will also ensure the continued viability of the Shared Services operation<\/a> as a whole.<\/span><\/p>\n

On a recent Peeriosity PeercastTM<\/sup>, a global consumer products company with a Shared Services operation that provides 170 services across 75 countries shared its experiences in adding the Financial Planning & Analysis (FP&A) function to it service offering.\u00a0 As is the case with many companies, the existing FP&A process required a high level of effort that often resulted in a low level of accuracy.\u00a0 This impacted the real-time decision-making capabilities of the company, which could result in costly mistakes being made due to a lack of proper information.<\/span><\/p>\n

The vision for FP&A in Shared Services was created, with the four key tenets for the business planning<\/a> being 1) Continuous, 2) Rolling, 3) Real Time, and 4) Integrated.\u00a0 The key design principles for the newly transitioned function included:<\/span><\/p>\n