There is no let-up in the pressure on Shared Service operations to increase the strategic value they add to their customers, whilst also reducing costs.
As part of a well-designed operating model, our view is that combining disparate, siloed Shared Service functions into an aggregated, multi-functional model is a key lever in delivering on these strategic objectives.
When we speak with our clients who lead Shared Services functions, we hear consistent themes when they describe their strategic objectives, including a push to:
- Improve both the integrity of their data, and enhance the insights it provides through better, more focused analytics
- Enhance the skillset and agility of their workforce
- Become the ‘go to’ partner for digital innovation within their organisations
- Reduce the breadth and complexity of their technology landscape, whilst leveraging best in class capabilities
- Provide an integrated, end-to-end service to their customers
Aside from the obvious efficiency potential gained through economies of scale (shared recruitment & training, IT, telecoms, risk management and compliance, management overheads), we see the opportunity to:
- Reduce the execution risk of managing and standardising end-to-end processes
- Consolidate data
- Introduce disruptive technologies
- Develop the skills and capabilities of your workforce.
When developed in line with your Target Operating Model, multi-functional Shared Services can break down functional silos that inhibit best practice, ensure congruent workforce location strategies, drive a consistent technology roadmap and enable the development of Centres of Excellence.