Cultivate a high-efficiency shared service model
Paper-based and manual processes are out. Digital is in. Finance is demanding richer and faster data with skilled, nimble teams to back it all up. Off-shore leverage is no longer as beneficial as it was in the past. Shared services organizations are leaning into digital transformation to realize a low-cost solution that drives additional value to the business while retaining and hiring world-class talent.
But want to hear something surprising? The barriers to digital transformation aren’t usually budget or technology. They’re actually rooted in change management—like organizational culture and how ready people are to embrace what’s new.
Commonly at the center of financial transactions, successful integrated business services have unlocked the potential to develop a suite of middle offices with capabilities that range from application governance and maintenance to process excellence and data analytics. Without embracing digital, though, the business benefits are left on the table.
Here’s a closer look at what we’re seeing.