The objective of a shared services delivery model is to empower each business division to focus its limited resources on activities that support the division’s business goals. Key advantages of a shared service center include:
Cost-efficiency: Global shared services centers are cost-efficient because they eliminate redundancy by centralizing back-office operations of multiple divisions across the company. Instead of having big finance teams across the organization, the financial processes can take place from one centralized location with a dedicated team overseeing all aspects.
Automation: Shared Service Centers (SSCs) were created to perform operations better than they could be performed in a decentralized environment while controlling costs. Automation plays a big role here. For example, in the order-to-cash process, AP automation tools such as e-invoicing can be deployed for faster delivery of invoice and receipt of payment.
Increased effectiveness: Enterprises will be able to leverage specialist skills, enhance decision support, and improve the controlled environment.
Increased responsiveness: Unifying customer-oriented vision enables shared services staff to better gauge and respond to changes in customer requirements. Shared services models that employ regional centers are well-posed to address the regional needs, regulations and language.