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The Third Wave in Shared Services

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Sarah Fane
Head of Research, sharedserviceslink

Accounting Shared Services are a central plank of any transformation towards a world class finance capability. They are a key finance tool for efficiency and an enabler for strategic flexibility, but achieving the process standardisation required to drive the desired cost efficiencies is a difficult business in practice.

It is easy to see process standardisation at a high level but the devil is in the detail. Getting this right is delicate surgery. We need to ensure we are cutting the waste and not impacting productive business effort.

Benchmarks show the range of cost efficiencies for organisations using Shared Services are as wide as for those that do not. This paper illustrates the reasons for this, discusses Shared Services efficiency and value creation, explores the new wave of continuous improvement and shares the role of Key Performance Indicators (KPIs), Key Exception Indicators (KEIs), Continuous Monitoring and Exception Analytics.

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