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Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
Financial Shared Services aligning to Business Objectives
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Financial Shared Services aligning to Business Objectives

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Financial Shared services and aligning it to Business Objectives

Financial Shared services and aligning it to Business Objectives

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  • On Ali
  • Ali
  • Sachin
  • Sachin
  • Swapnil
  • Sachin
  • Sachin Decision support and controls fully embedded in the business, enabling better decisions at the operating level, but supported by Finance through a combination of internal and external providers. Core finance activities, such as capital structure management, consolidated into a small, focused centralized finance team Transaction processing and specialty services (e.g., tax and internal audit) handled using the most efficient and effective provider, enabling a substantially lower and more variable cost structure. To manage complexity, Finance can use a combination of shared services and outsourcing to drive common processes and systems and make it easier to absorb back-office functions from acquisitions and geographic, market or product expansions
  • Swapnil
  • Vivek
  • Vivek
  • Rajesh
  • Vivek
  • Bijoy
  • Bijoy
  • Bijoy Decision support and controls fully embedded in the business, enabling better decisions at the operating level, but supported by Finance through a combination of internal and external providers • Core finance activities, such as capital structure management, consolidated into a small, focused centralized finance team • Transaction processing and specialty services (e.g., tax and internal audit) handled using the most efficient and effective provider, enabling a substantially
  • Prakash
  • Prakash
  • Bijoy
  • On Ali
  • On Ali
  • On Ali
  • Transcript

    • 1.  
    • 2. Why is there a need for Financial Services? What do we do? How do we implement? What are the benefits & risks involved?
    • 3. Why is there a need for Financial Services? What do we do? How do we implement? What are the benefits & risks involved? Open & hidden objectives FSS role in Strategy Themes of Shared Service
    • 4.  
    • 5. Principles Corporate Objective FSS Role & Objectives Structure Resources Leadership Person
    • 6. Striking a balance Facing Structural complexity
    • 7.  
    • 8. Leads to Results Difficult to achieve growth aspirations New Markets Decentralized Acquisitions C O M P L E XI T I E S
    • 9. Why is there a need for Financial Services? What do we do? How do we implement? What are the benefits & risks involved? What we do FSS Objectives Alignment: Service Structure
    • 10. <ul><li>Financial analysis for M&A </li></ul><ul><li>Receivables and Payables </li></ul><ul><li>Tax & Accounting </li></ul><ul><li>Financial Reporting </li></ul><ul><li>Currency conversion hedging </li></ul><ul><li>Budgeting & Forecasting </li></ul><ul><li>Treasury services </li></ul>
    • 11. Cost reduction, Efficiency, Agility, Fast Copy Consistency, Analysis, Value creation, customization Process improvement, service innovation, secondary KPIs, internal customers Direct Business Impact, primary KPIs, external customers AP, General Ledger, B/S analysis, Accounting, Fixed Assets, AR, Facilities Budgeting, Reporting, Financial Analysis, Forecasting, Tax, Legal, Treasury Systems, Standardize, Benchmarking, ERP, Streamlining, Automation, Governance Market Leadership, Competitive Differentiation, Business model, M&A, CSI
    • 12. Corporate Center Financial Shared Services One Internal Customer Multiple Internal Customers External & Internal Customers In-sourcing Co-sourcing Joint-Venture BPO
    • 13. Why is there a need for Financial Services? What do we do? How do we implement? What are the benefits & risks involved? Evolution of FSS Think Global Act Global + Local Fundamentals of Success
    • 14. Source: Bramante, Jim, Gregor Pillen and Doug Simpson. “CFO Survey: Current state and future direction.” IBM Global Business Services Build in balance – Implement a three-tiered organizational model for Finance that is specifically designed to provide both stability and flexibility
    • 15. Source: IBM Institute for Business Value analysis
    • 16. “ We’ve seen that a global approach to internal standard-setting is the best way to optimize the cost/benefit point of a given sub-process activity…Clearly there are real differences between countries, but prior to standardization, the global process owner engages with the local finance management team and explains the benefits of coming onto the common practice... The process owner decides which concerns are unfounded and which are valid.” – Global Accounts Payable and Asset Accounting, Executive, Global Technology and Service Firm
    • 17. <ul><li>Develop Service Level Agreements, KPIs and Operating Level Agreements </li></ul><ul><li>Choose Leaders Wisely </li></ul><ul><li>Benchmark, Benchmark and then Benchmark Again </li></ul><ul><li>Determine the Appropriate Implementation Approach </li></ul><ul><li>Implementation of shared services typically introduces a wide range of benefits </li></ul><ul><li>to the company, to name just a few: </li></ul><ul><li>Cost savings through consolidation, standardisation and process redesign </li></ul><ul><li>Service improvement, increased control through increased transparency and Visibility </li></ul><ul><li>Timely response to resolving problems, resulting in improved service levels and customer relationships </li></ul><ul><li>Ability to focus on core business objectives and competencies </li></ul>
    • 18. FSS-level BSC Customer Who do we define as our customer? How do we create value for our customer? Employee Learning and Growth How do we enable ourselves to grow and change while meeting ongoing customer needs Internal Process To satisfy customers while meeting budgetary constraints, at what business processes must we excel? Financial How do we add value for customers while controlling costs? Corporate Objectives FSS Strategy
    • 19. Why is there a need for Financial Services? What do we do? How do we implement? What are the benefits & risks involved?
    • 20. Notes, Problems, Issues
    • 21. <ul><li>IBM institute for Business Value </li></ul><ul><li>Blog of Kenny Ong, CNI </li></ul><ul><li>Other websites for secondary research </li></ul>

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