Shared Services Center – A center for shared services in an organization – is the entity responsible for the execution and the handling of specific operational tasks, such as accounting, human resources, payroll, IT, legal, compliance, purchasing, security.
Continuous improvement is an essential element in any effective business strategy. Whether these improvements are large or small in scale, achieved on the factory floor or in the back office, the goal is the same—to better leverage the resources of the organization to create optimal value for customers and other key stakeholders.
Enabled by rapid advances in technology, the drive to achieve worldclass performance standards is resulting in innovative structures, strategies, and solutions to complex business problems. Shared services centers (SSCs) are being created in organization after organization as the optimal solution to the need to both reduce the cost and improve the performance of Invisor’s Shared Service Centre(SSC) can standardize and automate process work activities, while at the same time delivering greater value through process innovation, reducing risk and revealing new sources of revenue for stakeholders.
As a Shared service centre, we can handle specific operational tasks that include various services in the Finance and Accounting and Human Resources. We work as multi-functional unit that is dedicated to a centralized point of service. It involves multiple business units to consolidate one or more than one operation into a shared one.
Our Shared Service Centre also customizes our processes with a focus to improve efficiency taking cost-effective measures. Its accuracy is focused with the help of technology on the platform of Business Process Management (BPM). We aspire to deliver our services with unique industry demands with a set of expert team working under us. Our platform stands as SaaS (Software as a Service) which complements the service delivered to suit diverse needs of customers globally also.
What are Shared Services?
Shared Services are a consolidation of functions, processes and resources, which were previously spread across business units or legal entities, into a strategic platform, to provide defined services to internal or external customers with a specified quality for a competitive price. Shared Services are highly effective by consolidation of systems and redesign of business processes into major service centers. Most of the companies see 4 reasons for building an SSC:
- Process Quality
- Customer Satisfaction
- Compliance (SOX & Risk Management)
Standardization of business processes is a prerequisite to increase the effectiveness and efficiency of a Shared Service Organization (SSO) with a high level of automation. The more homogeneous these processes are in an SSC, the more they can be automized, and thus, made efficient in time, quality, and cost.
Quality and costs criteria are the key factors for the location decision (on-, near- or offshore). SAP has chosen a nearshore location in Prague, Czech Republic, for all countries of the EMEA region to realize the synergies and to meet the best mix of quality and cost factors.
Shared Service Centres
Shared services are a proven way to reduce overall costs and increase efficiencies for global organizations with multiple lines of business and operating units.
The shared service centre (SSC) operates like a business unit serving internal customers and partners within pre-defined SLA’s and deliverables. One in four enterprise buyers are reinvesting in their global shared services operations largely driven by technological advancements and automation. Several companies are moving towards integrated global delivery models that incorporates both off-shore shared services and outsourcing functions. A significant number of enterprise buyers are moving to a wide scale transformation of business process enabled by new technology and platforms that not only minimizes manual interventions but also has a major impact on further bringing down cost of operations.
Challenges & Opportunities
From back office to front end customer interaction, we now have tools and applications to automate processes and interpret meaningful data. The mobile culture is changing both internal and external customer expectations and the way business is driven. Driven by technological advances, SSC is making its strongest re-emergence as a deliver model in a decade, covering Accounts Payable, Accounts Receivable, Human Resources, Master Data Management, Contracts Management, Legal Services, Customer Service and a myriad other processes across a wide range of industries.