Shared Services: The road ahead for 2021 and beyond
Leverage what we've learned for your future business success
In 2020, we surveyed the top finance, accounting, technology, shared services, GBS, and process improvement leaders. Find out what we learned.
Covid-19 has caused organisations to reconsider continuity plans and shift their priorities
Prior to the pandemic, shared services and GBS leaders, CFOs, and controllers were tasked with cutting costs, improving cash flow, shortening cycle times, and facilitating end-to-end business collaboration; COVID didn’t change these core responsibilities, but it forced a full reevaluation of how to achieve the desired results.
In sum, we discovered that businesses are (and should be):
Prioritizing quick changes with incremental benefits, over large-scale transformation projects
Implementing and optimising existing technological investments, instead of funding all-new investments
Augmenting with rapid-response services
Eliminating inefficiencies and pain points
Focusing on global end-to-end process value
Digitising accounts payable and accounts receivable to combat supply chain delays, cash flow shortages, and inconsistencies in purchase-to-pay and order-to-cash processes