International Shared Services – here’s how to do it right!
The establishment and use of shared service units always appears attractive for companies and corporate groups when at least one of the following conditions are found:
- Decentralized work is done by a few people (vacation and absence management)
- Decentralized transaction-oriented processes prevent the introduction of automation technologies due to a lack of critical mass
- Decentralized differences in processing prevent transparency, comparison, and efficiency optimization
- Particular tasks crop up only temporarily or seasonally
The aim of implementing shared service units always lies in increasing cost efficiency for all shared service participants thanks to the bundling of resources, while at the same time ensuring a high level of service.
At least the transactional processes of the following areas are frequently suitable for consolidation in a shared service unit:
Finance + Accounting
GAMBIT’s free analysis service
Increased efficiency through harmonization and process automation in SAP.
The establishment of shared services generally assumes the use of harmonized and standardized processes. GAMBIT and Warth & Klein Grant Thornton specialists will assist you in designing and implementing specific requirements. Examples of such harmonizations are:
- Definition and introduction of a unified corporate group chart of accounts
- Establishment of international accounting principles (e.g. through SAP New GL)
- Process harmonization and automation in the areas of current account
- Introduction of increased transparency and comparability through using established reporting packages
- Integration of cash management and clearing processes