Shared Services by definition enables corporations to leverage resources & costs across their entire organization with the end goal of lower costs, enhanced processes and solid customer service levels. Many have evolved over the past decades from single function shared services to a more holistic integrated Shared Services providing higher-level services that go beyond transactional services.
As a result, the successful SSC has recognized the need and value in partnering with industry experts in areas such as Accounts Payable in order to maximize their ability to deliver to their stakeholders. Finance, who has been at the core of shared services from the onset has a rooted investment in partnering with the best providers in order to reap the results including the need to free up key resources for other strategic activities including Business Services.
Those Corporate Shared Services that lead their peers have been able to reduce their manual invoice processing by 80% thereby impacting not only their internal stakeholders but their valued suppliers as well. Key to their success has been the ability to adopt best practices and accept the business model of their ‘expert partners’.
Take a look at this white paper for additional insight into Finance and SSC.