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Shared Services
Shared Services are the integration of best process practices across an end-to-end business enterprise in the areas that make a difference to customer satisfaction and profitability. Identify those process steps that make a difference in how effectively the business is operated and bring those processes to a state of standardization, ultimately best in class. Any processes that could be best accomplished through a centralized function become candidates for a shared services arrangement.
Once best in class performance is achieved, the processes are then implemented – first internally within your IT infrastructure and then across the entire business network. As this technique is applied, it becomes vital to have a viable and clear methodology for sharing the knowledge and practices that will enable this concept. That factor then becomes the domain of information technology. Shared services satisfy these requirements and becomes the vehicle driving successful implementation.
The key impacts from a successful shared services implementation are evaluated across four areas: strategic, customer, financial and operational. Each of these impacts are not stand alone as they can be integrated across all functions; resulting in additional synergies.
♦ STRATEGIC
- Decrease costs and free up valuable time and assets to focus on your business plan and core business offerings
- Acquire a detailed understanding of how functional organizations impact strategy execution
- Understand the competitive realities, opportunities, market potential, and core competencies required by key customers
♦ CUSTOMER
- Enable your firm to better respond to customer needs by instant, online access to highly accurate knowledge
- Higher visibility across your business network
- Optimized management of supply and demand changes
- Aids inventory management and shorter cycle times
♦ FINANCIAL
- Allows time and resources to concentrate on finding the opportunities for higher level improvements
- Shortens the time for closing statements
- Improved monitoring of asset utilization
- Creation of performance metrics to provide long term viability
♦ OPERATIONAL
- Provides more time to focus on core processing and rely on a trusted advisor to care for non-core activities
- Shared services deliver the best possible service at the lowest possible cost
- Process areas to be scrutinized: Finance, Procurement, Human Resources and Information Technology.
Capital Data has certified experts in assessing, consulting, architecting and implementing these best process practices within this shared services model.
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