Finance and Shared Business Service Strategy

 Client

The Client established a Shared Business Services group (SBS), consolidating portions of Finance, Human Resources and Information Technology, as part of a cost reduction effort. The Global Finance organization was asked to support this transformation by migrating key transactional processes from Finance to Shared Services. Key elements to an effective transition were:

  • Gain agreement for timing and scope for each migrating transactional process
  • Ensure alignment with SAP standard process and the Client’s Process Councils
  • Certify appropriate controls and compliance
  • Establish a Finance compliance framework for process work streams
  • Institute guidelines, accountabilities, metrics, service requirements and customer interfaces

Approach + Solution

At project inception, TayganPoint focused on providing the high-level business case and detailed implementation roadmaps.

Through interviews, focus groups, and facilitated sessions as well as leading practices research, the business case and roadmaps were developed.

These roadmaps subsequently guided work in the various areas of:

  • Process improvements for Source to Settlement (StS), Order to Cash (OtC) and Accounting to Reporting (A2R);
  • Operating models such as customer interfaces and performance metrics;
  • Governance frameworks for process owners and decision rights;
  • Service management: e.g. service level requirements, SLAs, catalog of services, resolution management, and pricing;
  • Creation of well-defined roles and responsibilities within and between Shared Services and the Finance organization.

Results + Impact

There were three major benefits derived from implementing a Finance/Shared Services strategy and road map:

  1. Cost reduction of 15% to 20% on specific transactional finance processes;
  2. Significant reduction in future SAP resource requirements by moving to shared services in advance of SAP implementation;
  3. Alignment of timing and scope for each transactional process slated to migrate, avoiding business distractions and workflow disruption.

About TayganPoint

TayganPoint is a management consulting firm focused on dynamic business transformation. Aligning people, process, culture and technology, they combine deep experience in strategy alignment, process improvement, change management and program management with extensive industry knowledge in Life Science, Financial Services, Healthcare and Energy. TayganPoint delivers high value operations solutions that improve performance, delivering measurable and sustainable results to clients. Learn more at www.tayganpoint.com.

 

Download a pdf of the Full Case Study here.

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