Product Type: Market Research Report
Published by: Business Intelligence
Published: January 2005
Product Code: R125-68Description Financial Shared Services, a new report from Business Intelligence, is your definitive guide to creating a customer-centric finance shared services organization (SSO).
Based on in-depth analyses of eight corporations, who collectively work out of shared services centres throughout the world, this report shows that leading SSOs are migrating from a primarily cost saving focus in value creation to becoming truly customer-centric stand-alone business units.
The experiences of a number of other SSOs, the input of expert consultants and advisors, an examination of other major research reports, plus the results of a specially commissioned survey of SSO practitioners adds to the knowledge and learning from our major case organizations. Furthermore, each chapter within the report concludes with a self-assessment checklist to assist you in gauging your organization's preparedness in creating and implementing an SSO.
This management report features:
- how to create a customer-centric Finance SSO how to dramatically improve compliance management how to take shared services to new levels of effectiveness and efficiency self-assessment checklists to help you plan the creation of a service-focused Finance SSO the key building blocks of a Financial Shared Services Organization (SSO) in-depth case studies from leading international organizations including FedEx, NHS and Reuters.
Financial Shared Services also provides you with an action template and twenty key questions which capture the learnings of the report. Answering these questions will put you in a good position to elevate your SSO to its next evolutionary level.
Finance departments who have got it right found that that an FSSO helped to achieve the company’s strategic goals, and have delivered a whole range of benefits to the organization including:
- Higher quality services
- Dramatic and sustained savings in operating costs of up to 45%
- Increased customer satisfaction
- Streamlining and simplification of processes
- More reliable service delivery through automation
- Easier and more effective compliance with Sarbanes-Oxley
- An improved strategic focus - more time for finance to focus on added-value services.
Financial Shared Services provides a definitive blueprint on how to plan and scope FSSOs to generate the greatest reward for the organization in terms of higher quality services as well as lower costs. It also explains what the main challenges are and how to overcome them with examples from companies that have tackled and resolved common problems ranging from culture change and location selection to charge back and staff retention issues.Table of Contents - Author Profile
- Acknowledgements
- Business Intelligence
- Preface
- List of Tables and Diagrams
- Chapter 1: Finance Shared Services - the basic building blocks
- Overview
- Introduction
- The Cost Imperative
- Cost Reduction: The Evidence
- Case examples
- Case Study Catalyst for SSO Creation
- Defining Shared Services
- Centralization and Shared Services
- A Standalone Business Unit
- Geographically Dispersed Centres
- Shared Services Ownership
- Process/Services Housed within Shared Services
- Case Study Examples
- Agilent Technologies
- City of Cape Town
- Eastern Health Shared Services
- FedEx
- InterContinental Hotels Group
- UK National Health Service
- New York Times Compnay
- Reuters Asia
- Conclusion
- Self-assessment Checklist
- Chapter 2: Defining the Customers’ Needs
- Overview
- Introduction
- Defining the Customer
- How Customers View Performance
- SSO Maturity and Customer Satisfaction
- Case examples
- Customer-facing Benefits: Case Examples
- Benefits during growth
- Case example:Tchibo Holding AG
- Sarbanes-Oxley
- Cutting costs and resources
- Customer Involvement
- Case example: National Health Service, UK
- End-to-end Processes
- Beyond Customer-focus
- Customer Councils
- Service Charges
- Taking the aggressive approach
- A more incremental view
- Future charging plans
- Conclusion
- Self-assessment Checklist
- Chapter 3: Creating a Customer-centric Culture
- Overview
- Introduction
- Behavioural and Culture Change
- Change Levers
- Branding
- Values
- Training
- Case Example: Allied Signal
- Case Study Example
- Customer Relationship Building
- Recruitment
- Existing Staff
- Recruiting New Staff
- Using New Recruits
- Skill Requirements
- Communications
- Appraisal and Compensation
- Cultural Congruence
- Change Management
- Conclusion
- Self-assessment checklist
- Chapter 4: Selecting the Right Location
- Overview
- Introduction
- Case Organization Location
- City of Cape Town
- Eastern Health Shared Services
- FedEx
- InterContinental Hotels Group
- National Health Service, UK
- New York Times Company
- Reuters
- A Costing Paradox
- The Brownfield/Greenfield Debate
- Choosing a Site Location
- Language Requirements
- Favoured Destinations
- Diageo Case Report
- Criteria Overview
- Conclusion
- Self-assessment Checklist
- Chapter 5: Beyond Shared Services - evolving delivery models
- Overview
- Background
- Raising the Performance Bar
- Pioneering SSOs
- Outsourcing
- Corporate Governance
- Co-sourcing
- Accenture/NCR Corporation Case Example
- People
- Processes
- Technology
- Location
- Late Developers
- Virtual Centre
- Four Stages of Maturity
- Stage 1: Consolidation
- Stage 2: Standardization
- Stage 3: Optimization
- Stage 4: Virtualization
- Horizontal SSOs
- Selling Services Externally
- Conclusion
- Self-assessment Checklist
- Chapter 6: Performance Measurement
- Overview
- Background
- Survey Findings
- Service Level Agreements
- Case Examples
- Working Without SLAs
- Case Report: Standard Chartered Bank
- Baseline Measures
- Benchmarking
- Case Examples
- Efficiency and Effectiveness Axis
- Customer-facing Metrics
- Customer Satisfaction Surveys
- End-toend Process Metrics
- Balanced Scorecards
- The Balanced Scorecard Explained
- Whirlpool Europe Case Example
- Case Example: Eastern Health Shared Services
- Other Case Examples
- Scorecard - Observation
- Self-assessment Checklist
- Chapter 7: Conclusion and Action Template
- Overview
- Background
- Twenty Questions
- Chapter 8: The Case Studies
- Agilent Technologies
- City of Cape Town
- Eastern Health Shared Services
- FedEx
- InterContinental Hotels Group
- UK National Health Service
- The New York Times Company
- Reuters Asia
- Appendix
- References
- Index
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