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The Accounting Shared Services Model: Opportunities and Challenges in a Globalized World
Author: Dr. Evelyn Reed, CPA, CMA, CGMA
Dr. Reed is a Professor of Accounting at the University of California, Berkeley, with over 20 years of experience in financial management and consulting. She is a Certified Public Accountant (CPA), Certified Management Accountant (CMA), and Chartered Global Management Accountant (CGMA), and has published extensively on topics related to shared services and accounting transformation.
Keywords: Accounting shared services model, shared services, accounting outsourcing, financial shared services, global shared services, accounting process optimization, cost reduction, efficiency improvement, technology in accounting, challenges of shared services
Abstract: This article provides a comprehensive examination of the accounting shared services model, exploring its potential benefits and inherent challenges. We delve into the strategic considerations for implementation, technological enablers, and crucial factors for success, ultimately offering insights for organizations considering adopting or optimizing their existing accounting shared services model.
1. Introduction: The Rise of the Accounting Shared Services Model
The accounting shared services model is a strategic approach where multiple business units within an organization, or even across different organizations, consolidate their accounting functions into a centralized, standardized, and often technology-driven unit. This shift away from decentralized accounting departments aims to improve efficiency, reduce costs, and enhance the quality and consistency of financial reporting. The model has gained significant traction in recent years, driven by globalization, technological advancements, and the increasing pressure on organizations to optimize their operational costs and improve financial control. This article will analyze the accounting shared services model, exploring both its promising opportunities and the significant challenges it presents.
2. Opportunities Presented by the Accounting Shared Services Model
The accounting shared services model offers numerous advantages, including:
Cost Reduction: Centralization eliminates redundancies, reduces overhead costs (such as salaries, software licenses, and office space), and enables economies of scale.
Improved Efficiency and Productivity: Standardized processes, automation, and specialized expertise lead to faster and more efficient processing of transactions.
Enhanced Quality and Consistency: Centralized control ensures adherence to consistent accounting policies, procedures, and reporting standards, minimizing errors and improving the reliability of financial information.
Increased Scalability and Flexibility: The model readily adapts to fluctuations in business volume and can be easily scaled to accommodate growth or downsizing.
Improved Compliance and Risk Management: Centralized control simplifies compliance efforts and strengthens internal controls, reducing the risk of fraud and errors.
Enhanced Expertise and Skill Development: Shared services allow for specialization and the development of a highly skilled accounting team.
Improved Data Analytics and Reporting: Centralized data enables more sophisticated analysis and reporting, providing valuable insights for strategic decision-making.
3. Challenges Associated with Implementing the Accounting Shared Services Model
Despite its potential benefits, implementing an effective accounting shared services model presents significant challenges:
Resistance to Change: Overcoming resistance from decentralized departments accustomed to operating independently requires careful change management strategies and strong leadership.
Integration Complexity: Integrating different systems and processes from various business units can be complex and time-consuming, requiring substantial investment in technology and expertise.
Technology Investment: Implementing and maintaining the necessary technology infrastructure (ERP systems, automation tools, etc.) requires significant upfront investment.
Talent Acquisition and Retention: Attracting and retaining skilled accounting professionals to staff the shared services center is crucial for success.
Communication and Collaboration: Effective communication and collaboration between the shared services center and business units are essential for efficient operations.
Process Standardization: Developing and implementing standardized processes across different business units can be challenging due to variations in existing practices and systems.
Loss of Local Control: Decentralized units may perceive a loss of control over their financial processes, leading to dissatisfaction.
Risk of Bottlenecks: Centralization can create single points of failure, increasing the risk of bottlenecks and disruptions if the shared services center experiences problems.
4. Key Success Factors for Implementing the Accounting Shared Services Model
Successfully implementing an accounting shared services model requires careful planning and execution, focusing on:
Strong Leadership and Sponsorship: Executive-level support is critical to securing resources, overcoming resistance, and ensuring alignment across the organization.
Clear Vision and Strategy: A well-defined strategy outlining the goals, scope, and timeline of the implementation is essential.
Effective Change Management: A comprehensive change management plan should address potential resistance, communicate the benefits of the model, and provide training and support to affected employees.
Appropriate Technology Selection: Choosing the right technology to support the shared services model is crucial for efficiency and scalability.
Robust Process Design: Standardized, efficient, and well-documented processes are essential for consistent operations.
Effective Communication and Collaboration: Open communication channels and collaboration tools are essential to maintain strong relationships between the shared services center and business units.
Performance Measurement and Monitoring: Regular monitoring of key performance indicators (KPIs) is crucial to track progress and identify areas for improvement.
5. Conclusion:
The accounting shared services model offers substantial opportunities to improve efficiency, reduce costs, and enhance the quality of financial reporting. However, successful implementation requires careful planning, effective change management, and a commitment to continuous improvement. By addressing the challenges proactively and focusing on the key success factors, organizations can leverage the accounting shared services model to gain a significant competitive advantage.
FAQs:
1. What is the difference between an accounting shared services model and outsourcing? While both involve centralization, shared services keeps accounting functions within the organization, while outsourcing contracts them to a third-party provider.
2. What are the common KPIs used to measure the success of an accounting shared services model? Common KPIs include cost reduction, processing time, error rates, customer satisfaction, and employee satisfaction.
3. How can technology enhance the effectiveness of an accounting shared services model? Technology such as ERP systems, robotic process automation (RPA), and AI can automate tasks, improve accuracy, and enhance data analytics.
4. What are the common pitfalls to avoid when implementing an accounting shared services model? Common pitfalls include inadequate planning, insufficient change management, poor communication, and unrealistic expectations.
5. How can organizations overcome resistance to change when implementing a shared services model? Effective communication, employee training, and involvement in the implementation process can help overcome resistance.
6. What are the best practices for ensuring data security and integrity in an accounting shared services model? Robust security protocols, access controls, data encryption, and regular audits are essential.
7. How can organizations ensure effective communication and collaboration between the shared services center and business units? Regular meetings, communication platforms, and clear service level agreements (SLAs) can facilitate effective communication.
8. What are the legal and regulatory considerations when implementing an accounting shared services model? Compliance with relevant accounting standards, data privacy regulations, and tax laws is essential.
9. How can organizations measure the ROI of an accounting shared services model? ROI can be measured by comparing the cost savings and efficiency gains against the initial investment and ongoing operating costs.
Related Articles:
1. "Optimizing Accounting Processes through Shared Services: A Case Study": This article presents a real-world example of a successful accounting shared services implementation, detailing the challenges and successes encountered.
2. "The Impact of Technology on the Accounting Shared Services Model": This article explores the role of technology in automating accounting processes and improving efficiency within a shared services environment.
3. "Building a High-Performing Accounting Shared Services Team": This article focuses on the critical role of talent acquisition, training, and motivation in creating a successful shared services team.
4. "Measuring the ROI of an Accounting Shared Services Model": This article provides practical guidance on how to accurately measure the return on investment of a shared services initiative.
5. "Addressing the Challenges of Change Management in Accounting Shared Services": This article provides strategies for overcoming resistance to change and building support for the shared services model.
6. "The Role of Data Analytics in the Accounting Shared Services Model": This article explores the use of data analytics to gain valuable insights from centralized accounting data.
7. "Global Accounting Shared Services: Best Practices and Considerations": This article examines the unique challenges and opportunities of implementing a global shared services model.
8. "The Future of the Accounting Shared Services Model": This article speculates on future trends, such as the increasing use of AI and automation, and their impact on the accounting shared services model.
9. "Comparative Analysis of On-Shoring vs. Off-Shoring in Accounting Shared Services": This article compares the advantages and disadvantages of locating the shared services center domestically versus internationally.
Publisher: Journal of Accounting and Finance Research (JAFR)
JAFR is a leading peer-reviewed academic journal published by the Institute of Chartered Accountants of England and Wales (ICAEW), renowned for its rigorous editorial process and high-quality research on accounting and finance topics.
Editor: Professor David Miller, PhD, CPA
Professor Miller is a leading expert in management accounting and has extensive experience in shared services and process improvement.
| accounting shared services model: Shared Services in Finance and Accounting Tom Olavi Bangemann, 2005 Most large companies worldwide today have some kind of shared services concept in place. Over half of the medium and large companies are currently engaged in some kind of shared service project activity. The investment in shared services is always calculated in millions. In other words, the costs of getting it right (or getting it wrong) can be huge. Shared Services in Finance and Accounting is a concise blueprint for identifying, assessing, designing, implementing and improving the process for shared services in the finance and accounting function. Tom Bangemann focuses on critical success factors, the people issues involved, and learning from other people's big mistakes. The book includes a variety of real life examples and real benchmarking data, performance metrics and best practices. The section on implementation is based on a proven five-phase methodology and explains the steps and activities involved as well as showing examples of the deliverables and the results you can expect. Any CEO, MD, CFO, Finance Director and senior finance people will find this book a 'must-have' guide to the process before they start and an excellent benchmark against which to measure the performance of any existing shared service operation. |
| accounting shared services model: Shared Services in Finance and Accounting Tom Olavi Bangemann, 2017-03-02 Most large companies worldwide today have some kind of shared services concept in place. Over half of the medium and large companies are currently engaged in some kind of shared service project activity. The investment in shared services is always calculated in millions. In other words, the costs of getting it right (or getting it wrong) can be huge. Tom Bangemann's book is a concise blueprint for identifying, assessing, designing, implementing and improving the process for shared services in the finance and accounting function. The author focuses on critical success factors, the people issues involved, and learning from other people's big mistakes. The book includes a variety of real life examples and real benchmarking data, performance metrics and best practices. The section on implementation is based on a proven five-phase methodology and explains the steps and activities involved as well as showing examples of the deliverables and the results you can expect. Any CEO, MD, CFO, Finance Director and senior finance people will find this book a 'must-have' guide to the process before they start and an excellent benchmark against which to measure the performance of any existing shared service operation. |
| accounting shared services model: Shared Services Donniel S. Schulman, Martin J. Harmer, John R. Dunleavy, James S. Lusk, 1999-03-08 One of the ways companies are looking for competitive advantage in this frenetic [business] environment . . . is through the use of a tactical technique called shared services. . . . In this book, we bridge [the] chasm between the theory of how a shared services operation 'ought to' work and the practical issues involved in how to make it work, how to carry out a successful implementation of a shared service operation in your business.-from the Preface. Gaining competitive advantage in today's fierce business environment requires focus throughout the company on value, as measured by quality, cost, speed, and service. In the quest for superior performance, a growing number of companies are now turning to shared services, a tactical technique by which corporations can organize financial and other transaction-oriented activities to reduce costs and provide better service to business unit partners. Written by four authorities, three PricewaterhouseCoopers consultants and the executive who has directed the shared service efforts at Lucent Technologies, this comprehensive resource-the first of its kind-examines shared services from the macro issues that compel senior management to embrace this approach through the design and implementation of a shared services environment that leads to increased customer and shareholder value. Of all the tools available for gaining competitive advantage, why shared services? One of the principal reasons is that it creates, through consolidation of often disparate activities, more of a one company feel among business units. The benefits of this are twofold: one, it enables companies to show a consistent face to clients and customers, vendors and suppliers, shareholders and potential shareholders; two, it provides increased flexibility to all of the business' operations, allowing corporate leaders to maintain a global perspective while at the same time allowing business unit leaders to take strong, customer-focused actions. Providing both a domestic and global view, Shared Services addresses the full spectrum of issues, including: * Assessing whether shared services is right for you-issues to consider, goals to be reached. * Getting started-building support, establishing an effective organization, instituting continuous communication. * Setting up the infrastructure-billing shared services to business units, dealing with tax and legal entity issues. * International challenges-complexity, time zone, legal issues, currency stability, and security. * Program and project management-structures, planning, execution, and control. A groundbreaking book that examines a timely and important topic, Shared Services is an accessible and thorough guide to what could be a critical component in achieving long-term business success. This comprehensive resource is the first to introduce, explain, and explore shared services, an innovative business strategy that involves centralizing various business units, including accounting and transactional operations, to reduce costs and increase customer satisfaction. Presenting a practical and easy-to-follow blueprint for the smooth and sound implementation of shared services in your organization, Shared Services: Adding Value to the Business Units covers all the fundamentals, from how to get started to proper management techniques. |
| accounting shared services model: Essentials of Shared Services Bryan Bergeron, 2002-10-31 What works, why it works, and how to evaluate a shared services program Shared services, a form of internal outsourcing, enables corporations to achieve economies of scale by creating a separate entity within the company to perform specific internal services, such as payroll, accounts payable, travel and expense processing, etc. Essentials of Shared Services provides a quick, concise overview of shared services fundamentals, bringing senior-level executives up to speed so that they make the right decision. Bryan Bergeron provides a foundation of shared services from a historical, economic, technical, and customer perspective, showing how shared services can impact a corporation's bottom line, both long and short term. He delivers specific recommendations that can be used to establish and manage a shared services effort and includes a variety of examples of programs that work and those that do not. |
| accounting shared services model: Shared Services as a New Organizational Form Tanya Bondarouk, 2014-07-31 What do shared service models involve? Which business processes can and/or should be shared? This ASM volume deals with such questions relating to the increasingly popular use of Shared Service Centers in organizations. The volume intends to move beyond debating the relevance of shared services towards more systematic research action. |
| accounting shared services model: Project to Product Mik Kersten, 2018-11-20 As tech giants and startups disrupt every market, those who master large-scale software delivery will define the economic landscape of the 21st century, just as the masters of mass production defined the landscape in the 20th. Unfortunately, business and technology leaders are woefully ill-equipped to solve the problems posed by digital transformation. At the current rate of disruption, half of S&P 500 companies will be replaced in the next ten years. A new approach is needed. In Project to Product, Value Stream Network pioneer and technology business leader Dr. Mik Kersten introduces the Flow Framework—a new way of seeing, measuring, and managing software delivery. The Flow Framework will enable your company’s evolution from project-oriented dinosaur to product-centric innovator that thrives in the Age of Software. If you’re driving your organization’s transformation at any level, this is the book for you. |
| accounting shared services model: Finance Bundling and Finance Transformation Frank Keuper, Kai-Eberhard Lueg, 2013-11-13 In managerial literature the challenges of ramping-up, growing and enhancing a (Finance) Shared Services Organization are regularly neglected. Therefore, the compilation will address two objectives: First, based on a generic phase model of an SSO’s development, frequently arising questions related to the management of SSOs shall be systematically discussed and practicable solutions derived. Secondly, a picture of the future of SSOs shall be elaborated, resulting in new future management implications. |
| accounting shared services model: Shared Services Daniel C. Melchior, Jr., 2011-01-04 Praise for Shared Services A Manager's Journey In Shared Services: A Manager's Journey, Dan presents the real business cultural challenges along with human factors when taking on such a change in a company's processes. A must-read for any executive, manager, or team member who is considering, decided to, or is already in the process of converting a company from a decentralized organization to a shared services environment. -Katherine M. Ericsson Vice President of Membership, Project Management Institute of South Florida and director of a project management office, in a shared services environment within the distribution industry A how-to/survival guide for those thinking about entering shared services or beginning the journey...for the rest of us, an entertaining look back at our journey both professionally and personally. A great read! -Steve K. Stone Senior Vice President and CFO, Newspapers and Shared Services Morris Communications Company Over the past fifteen years, I've had the pleasure of working directly with hundreds of companies who are implementing shared services. What is striking is how very different 'real experiences' are from the stories spun by consultants or keynote speakers at conferences. Getting to the 'real truth' of how to put the pieces together will help you keep consulting fees low and the probability of success high. This book is a practical guide created by someone who has been there. It is the truth! -Mike Hostetler Managing Director, Shared Services Roundtable Corporate Executive Board |
| accounting shared services model: Global Business Services Industry in Malaysia Aini Aman, 2016-03-12 Despite the increasing interest in Finance and Accounting Shared Services (F&A SS) there is no specific study that focuses on the growth and potential of the Global Business Services (GBS) industry in Malaysia. Almost without exception studies of both Malaysia and competitors countries (mostly by management consultants) tend to present a profile of demographic, social, political and infrastructure characteristics, leaving organizations to make their own sense of the potential of growth especially when the situation in many developing countries is both new and different. This book aims to provide understanding of F&A SS and GBS industry in Malaysia that could assist you in understanding the potential of setting up your shared service operation in Malaysia, the world's third best location for offshoring since 2004. What are the challenges faced by F&A SS firms in GBS industry? How do F&A SS firms overcome challenges and ensure the growth of the GBS industry? This book provides Malaysia's competitiveness together with its strategy to move up the value chain using Porter's Diamond Framework. This lead into a gap analysis between current capabilities and resources required for the growth of the GBS industry. |
| accounting shared services model: Financial Shared Services Centres Sophie Cacciaguidi-Fahy, David Currie, Martin Fahy, 2002 |
| accounting shared services model: Local Government Shared Services Centers Paweł Modrzyński, 2020-08-12 Built on independent research and financial audits of a number of newly created Shared Service Centers (SSCs) in Poland, Local Government Shared Services Centers: Management and Organization is the first book to thoroughly examine the organization, development and effectiveness of the shared service market in the Polish public sector. |
| accounting shared services model: Innovation, Technology, and Market Ecosystems Rajagopal, Ramesh Behl, 2019-09-13 This edited book brings together international insights for raising rich discussion on industrial growth in the twenty-first century with a focus on the Industry 4.0 drive in the global marketplace, which is driven by innovations, technology, and digital drives. It delineates multiple impacts on business-to-business, business-to-consumers, the global-local business imperatives, and on the national economy. The chapters critically analyze the convergence of technology, business practices, public policies, political ideologies, and consumer values for improving business performance in the context of Industry 4.0 developments. This contribution will enrich knowledge on contemporary business strategies towards automation and digitization process in manufacturing, services, and marketing organizations. The discussions across the chapters contemplate developing new visions and business perspectives to match with the changing priorities of industries in the emerging markets. |
| accounting shared services model: Reforming Local Government Joseph Drew, 2020-06-23 This book is a bold prescription for local government reform that moves well beyond the old arguments regarding consolidations (also referred to as amalgamations) and co-operation (sometimes referred to as shared services) to paint a picture of an efficient, effective tier of government that strikes a balance between the right of persons to pursue their existential ends and the need to promote the common good. The book presents a system of local government that balances human dignity with the common good, restrains Leviathan, provides a voice for the disenfranchised (and even the disinterested), and delivers goods and services efficiently and effectively. Ironically, what is often argued to be the weakness of local government in many jurisdictions – the fact that it is merely a creature of statute – is also the best hope we have of making the oft cited rhetoric about how ‘local government is the closest to the people that serves the people best’ become reality. |
| accounting shared services model: Offshoring Strategies Ilan Oshri, 2011-02-25 The evolution of a rapidly growing mode of offshoring, captive centers: basic models, strategies, and case studies of Fortune Global 250 firms. In today's globalized economy, firms often consider offshoring when confronted by rising costs and fierce competition. One mode of offshoring has continued to grow despite the current global economic turmoil: the captive center. Captive centers are offshore subsidiaries or branch offices that provide the parent company with services, usually in the form of back-office activities. In Offshoring Strategies, Ilan Oshri examines the evolution of the captive center. He identifies basic captive center models, examines the captive center strategies pursued by Fortune Global 250 firms, describes current captive center trends, and offers detailed individual case studies that illustrate each model. His analysis highlights the strategic paths available to firms that want to maximize the returns offered by captive centers. Oshri outlines six models for captive centers that range from the basic wholly owned branch office to hybrids and joint ventures and identifies evolutionary paths along which the basic model develops. He analyzes firms' strategies during initial set-up, then tracks the changes as strategies evolve to meet different business needs. The case studies, all based on the Fortune Global 250, include the development of a basic captive unit into a complex hybrid structure; the evolution a captive center into a shared service center offering services to other international firms; the divestment of a captive center to a private equity firm; and the migration of a captive center to a location where costs were lower. |
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| accounting shared services model: Case Studies in Performance Management Tony C. Adkins, 2006-06-23 Praise for Case Studies in Performance Management With this book, Tony Adkins has made an important contribution to the body of knowledge of managerial accounting. --From the Foreword by Gary Cokins, lead strategist, Business Performance Management Solutions group with SAS Institute and internationally recognized expert in advanced cost management and performance improvement systems If you want to achieve direction, traction, and speed in business, Case Studies in Performance Management: A Guide from the Experts is a must-read . . . jam-packed with golden nuggets you can put to work immediately. --Jason Jennings, bestselling author of Think Big, Act Small, Less Is More and It's Not the Big That Eat the Small . . . It's the Fast That Eat the Slow Tony has the insight found only from actual implementations of ABC/PM.Using this as lens, he has brought the collective experience of experts into focus. --Mohan Nair, author of Essentials of Balanced Scorecard and Activity-Based Information Systems Tony Adkins has lived the life of a true ABC/PM road warrior. His collection of case studies reaches beyond the theory to capture the harsh reality of what it takes to successfully implement performance management. A must-read for anyone wise enough to learn from those who have gone before. --Chris M. Pieper, CEO, FormRouter, Inc. (former founder and CEO of ABC Technologies) Everyone who reads this book will gain a solid appreciation of the substance and value of performance management in varied industry settings and applications. --Dr. Peter B. B. Turney, President and Chief Executive Officer of Cost Technology, Inc. and author of Common Cents If you're looking for a way to dramatically improve your company's performance and get back its competitive edge, Case Studies in Performance Management: A Guide from the Experts will show you how other businesses, driven to remain competitive by changes in their industries, learned to work smarter using ABC/PM in today's tough business environment. Noteworthy commentary from experts in the field including Ashok Vadgama and Alan Stratton helps you understand ABC/PM and how to execute its sound strategies in your own business. |
| accounting shared services model: Municipal Shared Services and Consolidation Alexander Henderson, 2014-10-17 Municipal Shared Services and Consolidation provides a comprehensive and clear review of the theories and practices of structuring and managing complex local government services. Intended for both students and practitioners, this volume in the Public Solutions Handbook Series addresses concepts and processes of shaping collaborative arrangements in public service with goals of effectiveness and efficiency in mind. The Handbook begins with a review of theories of shared services and consolidation, highlighting conceptual foundations, practical barriers, and cultural considerations related to these efforts. Specific, practical advice follows, highlighting the processes of creating, implementing, and managing shared services and consolidation agreements. Municipal Shared Services and Consolidation is exceptionally well written and is amplified by examples, cases, illustrations, and a comprehensive bibliography. |
| accounting shared services model: The Transformation of Huawei Xiaobo Wu, Johann Peter Murmann, Can Huang, Bin Guo, 2020-04-09 Reveals how Huawei has developed the ability to continually transform as a company by developing dynamic capabilities and change-supporting values. |
| accounting shared services model: The Handbook of Global Outsourcing and Offshoring I. Oshri, J. Kotlarsky, L. Willcocks, 2009-10-09 This book offers a broad perspective on issues relating to the sourcing of systems and business processes in a national and global context, examining the client's and the vendor's involvement in sourcing relationships by putting the emphasis on the capabilities that each side should develop as a result of their interactions with each other. |
| accounting shared services model: Managing Public Money Great Britain. Treasury, 2007 Dated October 2007. The publication is effective from October 2007, when it replaces Government accounting. Annexes to this document may be viewed at www.hm-treasury.gov.uk |
| accounting shared services model: Central Finance and SAP S/4HANA CARSTEN. AWAN HILKER (JAVAID. DELVAT, JULIEN.), Javaid Awan, Julien Delvat, 2018-08-28 |
| accounting shared services model: The Greenhouse Gas Protocol , 2004 The GHG Protocol Corporate Accounting and Reporting Standard helps companies and other organizations to identify, calculate, and report GHG emissions. It is designed to set the standard for accurate, complete, consistent, relevant and transparent accounting and reporting of GHG emissions. |
| accounting shared services model: HR Shared Services and the Realignment of HR P. Reilly, 2000 This report examines how adopting the shared services model of human resources (HR) services delivery can help businesses achieve better alignment between their HR service and specific business needs. Chapter 1 provides background information on the research project underlying this report, which included the following data collection activities: site visits to 15 organizations in different sectors that had introduced some form of HR shared service; interviews with four consultants regarding the present and future of HR shared services; and literature reviews. Chapters 2-7 discuss the following aspects of adopting and implementing the HR shared model: (1) reasons for creating an HR shared service (overall picture, cost reasons, quality reasons, organizational reasons, and technological facilitation); (2) the strategic, operational, and support activities involved in HR shared services and how shared HR services were introduced at the organizations studied; (3) issues in the delivery of shared services (centralization, devolution, in-sourcing versus out-sourcing, structuring the service, and service definition and monitoring); (4) the advantages and disadvantages of the HR shared services model; (5) the future of shared services in light of technological innovation and organizational change; and (6) issues in creating successful shared services. The bibliography contains 51 references. (MN) |
| accounting shared services model: The End Of Globalization Alan Rugman, 2012-09-30 Professor Alan Rugman is one of the world's leading academics in the field of international business and strategy. In The End of Globalization he argues that we are currently witnessing the end of globalization and draws on new research and analysis to argue that globalization never really happened anyway. Like Bartlett and Ghoshal's Managing Across Borders, this book is aimed at the market of practitioners and policy-makers, (not academics and theoreticians) showing them what the current state of the global economy means for them. Global business is dominated by the 500 largest multinational enterprises (MNEs) out of a total of 30,000 MNEs altogether. The 500 MNEs that are the engines of international business 'think regional and act local'. Using analysis drawn from world-leading companies, Professor Rugman looks in detail at the managerial implications of the end of globalization, including in-depth discussion of corporate strategies, organizational structures, and analytical methods. |
| accounting shared services model: IT Savvy Peter Weill, Jeanne W. Ross, 2009-07-07 Digitization of business interactions and processes is advancing full bore. But in many organizations, returns from IT investments are flatlining, even as technology spending has skyrocketed. These challenges call for new levels of IT savvy: the ability of all managers-IT or non-IT-to transform their company's technology assets into operational efficiencies that boost margins. Companies with IT-savvy managers are 20 percent more profitable than their competitors. In IT Savvy, Peter Weill and Jeanne Ross-two of the world's foremost authorities on using IT in business-explain how non-IT executives can acquire this savvy. Concise and practical, the book describes the practices, competencies, and leadership skills non-IT managers need to succeed in the digital economy. You'll discover how to: -Define your firm's operating model-how IT can help you do business -Revamp your IT funding model to support your operating model -Build a digitized platform of business processes, IT systems, and data to execute on the model -Determine IT decision rights -Extract more business value from your IT assets Packed with examples and based on research into eighteen hundred organizations in more than sixty countries, IT Savvy is required reading for non-IT managers seeking to push their company's performance to new heights. |
| accounting shared services model: The Corporate Lattice Cathleen Benko, Molly Anderson, 2010-08-03 With roots planted firmly in the industrial age, the corporate ladder has been the metaphor used to describe the prevailing one-size-fits-all model for success. At its heart, the ladder is derived from inflexible, hierarchical, organization models in which prestige, individual rewards, information flow, power and influence are tied to the rung each employee occupies. Yet the workplace as we know it is in transition -- evolving away from the linear, one-size-fits-all model of the corporate ladder toward a multidimensional approach that Cathy Benko calls the corporate lattice. This book will serve to widen an organization's strategic lens, representing a fundamentally new way to work and run a company. It offers a framework to help senior leaders and HR directors harness the talent in their company in a way that provides a strategic advantage, not only for recruiting but also for achieving and maintain better individual performance. In the bestselling book Mass Career Customization (Harvard Business Press/2007), Cathy Benko and Deloitte provided the breakthrough MCC dashboard for understanding the important variables of individual employees' career-life profiles, but she also coined a new metaphor -- the corporate lattice -- as a way to think about the changed career landscape. This book delves much deeper into the power of the lattice for organizations, fully exploring its contours and applying it to real-life practice throughout a company. It explores how the corporate lattice model creates value by: 1. Ensuring a flow of talent into and through the organization. 2. Increasing the efficiency of and return on organizational investments. 3. Improving financial and operating results through greater employee engagement. The three-part framework of the book presents specific ways managers and organizations can use The Corporate Lattice to manage talent, measure results, collaborate across teams, engage employees, and reor |
| accounting shared services model: Local Government Shared Services Centers Paweł Modrzyński, 2020-08-12 Built on independent research and financial audits of a number of newly created Shared Service Centers (SSCs) in Poland, Local Government Shared Services Centers: Management and Organization is the first book to thoroughly examine the organization, development and effectiveness of the shared service market in the Polish public sector. |
| accounting shared services model: Improving corporate functions using shared services Great Britain: National Audit Office, 2007-11-29 Corporate services provide often vital support to the delivery of effective and efficient public services, and cover such areas as finance and accounting, human resources, procurement, information technology, facilities and estates management. Sir Peter Gershon's review of public sector efficiency (available on the HM Treasury website, http://www.hm-treasury.gov.uk/media/C/A/efficiency_review120704) identified benefits from shared services, but found that departments' efficiency targets did not include savings specifically from shared corporate services. This NAO report has been conducted to take account of developments between the 2004 Spending Review (Cm.6237, ISBN 9780101622728) and the 2007 Comprehensive Spending Review (Cm. 7227, ISBN 0101722729) on shared services and focuses mainly on finance and human resources, which are generally the more developed areas of shared service in the public sector. The publication is divided into four parts, and looks at general and specific areas, including: the potential of shared services in the public sector; the problems of customer satisfaction experienced by the NHS and HM Prison Service with shared services; the variable progress across government; the lack of a clear overview from the Cabinet Office on shared services. The NAO has also set out 9 recommendations, including: public bodies should streamline their corporate service processes in line with best practice; they should also improve how they analyse the performance of their corporate services and whether there are more cost-effective ways to obtain such services; Departments should increase public transparency of corporate service performance. |
| accounting shared services model: House of Commons - Committee of Public Accounts - Integration Across Government And Whole-Place Community Budgets - HC 472 Great Britain: Parliament: House of Commons: Committee of Public Accounts, 2013-09-20 For many years Governments have sought to breakdown silo working in departments and ensure better integration across departments to ensure more effective services and better value for money. The Cabinet Office and the Treasury are best placed to support and promote integration across the Government, as they are responsible for coordinating policy and allocating monies. However, they are failing to provide the necessary strategic leadership and are not doing enough to tackle the barriers to integration. These include the lack of good information to identify where the Government could do better by joining services, funding arrangements which make it difficult for bodies to invest in joint working, and the risk that Accounting Officers are reluctant to pool budgets in case they lose control and authority. In contrast, the Whole-Place Community Budgets programme has involved local public bodies and central government working together to develop evidence-based plans for new integrated services. Four local areas have analysed in detail the expected costs and benefits of integration and their findings show clear potential for improving outcomes and reducing costs. The Department for Communities and Local Government, which manages the Whole-Place Community Budgets programme, has provided effective support to date. However, if other central government departments are not committed to Whole-Place Community Budgets it may, like similar initiatives in the past, fail to deliver any significant and lasting change. The programme must be evaluated properly to see whether the early promise translates to real change on the ground and improves value for money. |
| accounting shared services model: Governing to Win Charles Prow, 2012-04-12 Charles Prow has brought together an impressive lineup of businessmen and women, reporters, and experts to show how the United States can be more competitive in the global economy. This book shows not only what is wrong with the current federal spending plan, but ways to fix it. Business professionals and anyone interested in the government’s response the recession will find this an important book. |
| accounting shared services model: Shared Services and Outsourcing: A Contemporary Outlook Julia Kotlarsky, Ilan Oshri, Leslie P. Willcocks, 2016-09-27 This book constitutes the revised selected papers from the 10th Global Sourcing Workshop held in Val d’Isère, France, in February 2016. The 11 papers presented in this volume were carefully reviewed and selected from 47 submissions. The book offers a review of the key topics in outsourcing and offshoring of information technology and business services offering practical frameworks that serve as a tool kit to students and managers. The range of topics covered is wide and diverse, but predominately focused on how to achieve success in shared services and outsourcing. More specifically, the book examines outsourcing decisions and management practices, giving specific attention to shared services that have become one of the dominant sourcing models. The topics discussed combine theoretical and practical insights regarding challenges that industry leaders, policy makers, and professionals face or should be concerned with. Case studies from various organizations, industries and countries such as UK, Italy, The Netherlands, Canada, Australia and Denmark complete the book. |
| accounting shared services model: OECD Multi-level Governance Studies Enabling Inter-Municipal Shared Service Provision in Lithuania Proposed Legal and Institutional Framework and Piloting Approach in Tauragė+ Functional Zone OECD, 2024-09-19 Lithuania is experiencing rapid demographic change, with the population ageing and significantly shrinking in recent decades. This trend has put pressure on the provision of public services, especially at the municipal level, and is expected to continue in the coming years. Ongoing efforts are made by Lithuania to improve the delivery of municipal services with the aim to mitigate territorial disparities and foster social inclusion. In this perspective, shared public service provision is viewed as a way to enhance the accessibility, affordability and quality of essential public services. This report provides recommendations and an action plan to address challenges inherent to the legal, fiscal and institutional frameworks for shared municipal service provision in Lithuania, while taking stock of these different challenges. The report also provides two roadmaps for piloting primary healthcare and long-term care services in Tauragė+ functional zone (Jurbarkas, Pagėgiai, Šilalė, Tauragė municipalities) through shared municipal service provision. The report draws lessons from peer country experiences, and in particular Finland, where inter-municipal cooperation has been used successfully for decades. |
| accounting shared services model: The Handbook of Global Outsourcing and Offshoring 3rd edition Ilan Oshri, Julia Kotlarsky, Leslie P. Willcocks, 2015-01-23 Now in its third edition, this is the only outsourcing and offshoring book to offer a broad but coherent guide to the strategy, operations and management of ITO and BPO outsourcing and offshoring, from how to source new relationships to managing business processes in a national and global context. |
| accounting shared services model: The Green Book Great Britain. Treasury, 2003 This new edition incorporates revised guidance from H.M Treasury which is designed to promote efficient policy development and resource allocation across government through the use of a thorough, long-term and analytically robust approach to the appraisal and evaluation of public service projects before significant funds are committed. It is the first edition to have been aided by a consultation process in order to ensure the guidance is clearer and more closely tailored to suit the needs of users. |
| accounting shared services model: Pain Management and the Opioid Epidemic National Academies of Sciences, Engineering, and Medicine, Health and Medicine Division, Board on Health Sciences Policy, Committee on Pain Management and Regulatory Strategies to Address Prescription Opioid Abuse, 2017-10-28 Drug overdose, driven largely by overdose related to the use of opioids, is now the leading cause of unintentional injury death in the United States. The ongoing opioid crisis lies at the intersection of two public health challenges: reducing the burden of suffering from pain and containing the rising toll of the harms that can arise from the use of opioid medications. Chronic pain and opioid use disorder both represent complex human conditions affecting millions of Americans and causing untold disability and loss of function. In the context of the growing opioid problem, the U.S. Food and Drug Administration (FDA) launched an Opioids Action Plan in early 2016. As part of this plan, the FDA asked the National Academies of Sciences, Engineering, and Medicine to convene a committee to update the state of the science on pain research, care, and education and to identify actions the FDA and others can take to respond to the opioid epidemic, with a particular focus on informing FDA's development of a formal method for incorporating individual and societal considerations into its risk-benefit framework for opioid approval and monitoring. |
| accounting shared services model: CFO Insights C. Cristian Wulf, 2006-07-28 The benefits Carrefour achieved have been substantially in excess of predictions. The Shared Service accounting centers enabled streamlined processes, lowered costs, and introduced standard processes, a standard system, and standard data for a global company. The new infrastructure can support rapid expansion and can add new stores with the flip of a switch. From a systems point of view, Carrefour now has a 'factory' in place to deliver high-efficiency systems, tools, processes, and training. --From Chapter 9, Implementation and Operational Imperatives for ERP The benefits of efficient information delivery are demonstrated by the results of one of the world's largest mySAP.com implementations. Siemens achieved a twenty-five percent cost reduction through streamlined information delivery and improved access to financial information. It also enhanced its reporting capabilities from seventy percent to nearly 100 percent through increased intranet availability. --From Chapter 3, Financial and Management Reporting Research shows that high-performance businesses and governments use finance technology as one of the capabilities to help executives make better decisions for resource allocation, while at the same time increasing productivity. CFO Insights: Enabling High Performance through Leading Practices for Finance ERP includes a number of case studies and lessons learned from Accenture clients across a variety of industries that have implemented, upgraded, and operated Oracle/PeopleSoft and SAP. Each case study highlights vital thoughts, benefits, and considerations and provides relevant guidance as one proceeds with an ERP on the journey toward high performance. |
| accounting shared services model: Assessing Business Health of Shared Services Dr. Vipin K. Suri, 2023-09-26 About the Book A business health check assessment of a Shared Services organization is important to determine if the service delivery organization is operating effectively and creating value for the company. The executives and other professionals can use this assessment to develop a step-by-step approach for assessing the effectiveness of their Shared Services organizations. Assessing Business Health of Shared Services focuses on the issues that impact decision-making and action planning regarding service delivery management, customer relationships management, employee motivation management, business contribution management and change and quality management, as well as building and managing plans for improvement. The business health check assessment has been used by several companies to improve the effectiveness of their Shared Services organizations. The assessment of the Shared Services effectiveness is determined by a qualitative assessment of how well the management practices are deployed and how well the internal customer requirements are met at a point in time. About the Author Dr. Vipin K. Suri is the Managing Director of Shared Services International Inc, a management consulting firm focused on Shared Services design and implementation, as well as online and in-classroom training in the areas of Shared Services, Project Management, and Six Sigma. He is also the Managing Director and Group CEO of SSI (Beijing), a management consulting firm in China. As a management consultant for over 21 years, Vipin has successfully assisted several companies in the Asia-Pacific Region, Australia, India, and North America with their efforts to implement Shared Services and to review effectiveness of their Human Resources, Supply Chain Management, Finance, Information Technology, and other business support functions. |
| accounting shared services model: The New Accounts Payable Toolkit Christine H. Doxey, 2021-04-13 THE NEW ACCOUNTS PAYABLE TOOLKIT In The New Accounts Payable Toolkit, accomplished entrepreneur, consultant, and finance expert Christine H. Doxey delivers a unique and powerful approach to the accounts payable process and discusses the impact of the automation of the Procure to Pay (P2P) process. The toolkit explores all aspects of the accounts payable process, from the establishment of the contract and the purchase order to the supplier validation process, invoice processing and payment, accounting, and fiscal close. You’ll learn the key metrics and analytics needed for the accounts payable process. This comprehensive toolkit provides the best practices, tools, and internal controls that can help safeguard your company’s cash and other assets. You’ll obtain a variety of tools to create the foundation required for current internal controls and compliance to ensure that suppliers are correctly validated in the supplier master file to maintain regulatory compliance. Avoid paying fraudulent or inaccurate invoices and avoid paying a supplier’s invoice more than once. Be certain that all supplier invoices are properly accounted for to ensure an accurate fiscal close. Finally, stay up to date with all current and coming trends in the accounts payable process, including eInvoicing, ePayment, Robotic Process Automation (RPA), Artificial Intelligence (AI), Machine Learning, and eAccounting. The New Accounts Payable Toolkit provides guidance for the implementation of AP automation solutions that can streamline and modernize your own systems and processes to take advantage of new digital developments. Perfect for controllers, chief financial officers, and finance managers, The New Accounts Payable Toolkit will also earn a place in the libraries of students and professionals who seek to better understand the components of an optimal accounts payable. UNCOVER A UNIQUE AND POWERFUL NEW APPROACH TO ACCOUNTS PAYABLE PROCESSES The New Accounts Payable Toolkit offers readers a comprehensive and timely new way of handling their accounts payable systems and processes. You’ll discover how to implement new digital technologies in every aspect of the accounts payable process, from the establishment of the initial contract and purchase order to the supplier validation process, invoice processing and payment, accounting, and fiscal close. You’ll learn to validate suppliers in the master list to ensure regulatory compliance, prevent multiple payments for a single invoice, keep from paying fraudulent, inaccurate, or incomplete invoices, and apply best practices to help safeguard your company’s assets. You’ll also discover how to measure and record key metrics and analytics to maintain an effective accounts payable process. Finally, you’ll read about new and upcoming trends in accounts payable, like artificial intelligence, machine learning, and robotic process automation that you can implement today to realize new efficiencies and savings. Ideal for chief financial officers, finance managers, and controllers, The New Accounts Payable Toolkit is an invaluable guide to modernizing and optimizing your own company’s accounts payable processes and systems. |
| accounting shared services model: IFRS 2 International Accounting Standards Board, 2004 |
| accounting shared services model: Service strategy Great Britain. Office of Government Commerce, 2007-05-30 Management, Computers, Computer networks, Information exchange, Data processing, IT and Information Management: IT Service Management |
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