The three main focuses of the Training and Development Group are, not surprisingly, employee training (current job), education (future job) and development (continued success). Services are provided to customer agencies on a cost recovery basis and are defined under service level agreements. After a need is identified, the Procurement Group is responsible for identifying and screening potential suppliers, selecting a supplier, negotiating terms of payment and arranging any logistical concerns (shipping, delivery, installation, training, etc.). They develop response procedures for possible legislative issues that could arise and assist in developing educational programs for employees to help them to understand relevant public policy issues. The Application Development Group defines application architecture and develops programs and systems to meet business needs/requirements that are defined by the systems analysis team (through interviews with end users and stakeholders). Was advanced shipment notification [ASN] received? data to compare their current HR structure to that of their peers. Common Human Capital Management (HCM) job titles: Human Capital Management Consultant, Human Capital Management Analyst, Human Capital Management Specialist, Human Capital Management Associate. Common Accounts Receivable (AR) job titles: Billing Specialist, Accounts Receivable Clerk, Accounts Receivable Analyst, Accounting Technician. Procurement employees are also tasked with monitoring the performance of company suppliers as it relates to the terms of the contract that governs the relationship with the vendor. The Enterprise Architecture (EA) Group is responsible for defining the structure and operation of an organization by documenting and integrating the business processes of internal groups (HR, Finance, IT) with information technology (IT) systems and applications. Common Information Architecture (IA) job titles: Data Engineer, Information Architect, Systems Administrator, Data Architect. These teams are typically regionalized to be closer to end customers and to accommodate local languages, time zones, and cultures. The mechanistic structure represents the traditional, top-down approach to organizational structure, whereas the organic structure represents a more collaborative, flexible approach. Presentation-ready benchmarking data, reports, and definition guides. In a financial-services setting, for instance, the shared-services organization might be charged with processing loan applications or insurance claims. We do what we say we are going to do, with integrity, tenacity, and a genuine passion for the work throughout the entire project. The Controller Group is responsible for maintaining a company's books and ensuring that all business transactions are properly recorded and managed. Most SSCs have one or more teams that answer questions from employees, vendors, and other stakeholders. “Shared services is a key tool for saving cost, not only in finance but also in HR, supply chain, IT, and other functions.” Figure 1 shows that while the majority of SSCs in both groups report to the organization’s finance executive, more top performers do so than the comparison group (77 percent versus 52 percent). Part 1: Accounting, control & reporting. In a business setting, Information Architects are responsible for designing the structure of company database systems and ensuring that the information is stored in a way that will allow for meaningful use by business end users. We invite you to learn more about our expanded firm. Shared Services Organization Chart Template. These higher adoption rates translate to much higher non-labor related savings among top performers, depicted in Figure 4. Information technology (IT) strategy as it relates to finance is defined here. Common Tax job titles: Tax Accountant, Tax Analyst, Tax Associate, Tax Preparer, Staff Accountant. The Master Data Management function is responsible for managing the structure, quality and use of data by both internal (in the company) and external users (clients, customers), often by means of database tools, GUI-based user interfaces and other internal data storage or management systems/architectures. This group may also be responsible for maintaining infrastructure (servers, storage, memory, etc.) While this figure suggests that payroll is not scoped 38 percent of the time, we believe that it’s likely fitting in HR shared services, so it’s really in shared services overall, whether in finance or HR,” Robinson explained. Those savings have traditionally been difficult to quantify in business cases, but this is a statistically significant survey. A clear understanding of procurement contracts and vendor requirements, therefore, are important but often forgotten requirements for IT departments. Shared services are being applied to an increasing number of functions. Process modeling and diagnostic tools to identify improvements and automate processes. Business intelligence dashboards and analysis to improve management capabilities. A Finance Department manages a firm's long-term and day-to-day monetary operations and strategy. Major financial processes like AP, AR, and general accounting are highly centralized within SSCs, while high-value analytical processes like planning, budgeting, and forecasting remain largely decentralized, Advances in automation and AI are driving substantive improvements and more efficiency for SSC customer care teams. Figure 2 illustrates that for global process governance, top performers leverage the global process owner role (74 percent) and service level agreements (76 percent) more than other governance models and do so in greater numbers than the comparison group. IT Security teams also work to develop security incident management plans and ensure that all technology-related projects meet defined security requirements. ), facility productivity and safety, and distance to company facilities/receiving locations. “Often, the finance function is saddled with the task of saving cost across the entire organization,” DeMent explained. The IT Network Administration Group manages the company's technology 'backbone' - its data centers and networks. This document defines over 900 Shared Services Group KPIs, including metric definitions for Finance, Human Resources, Information Technology, Legal, Master Data Management and Procurement. Though this group is commonly outsourced or carried out within the HR group, if the business is small, payroll may be handled directly by the owner or an associate. “In general, we’re seeing a mixed bag with respect to outsourcing,” Robinson noted. With the maturity of outsourcing continuing to grow, a hybrid Information Architecture (IA) refers to the structural design of data - database system architecture, naming/labeling conventions, definitions and standards for the collection, storage, retrieval and use of information. The network administration team also works closely with the IT Security Group to ensure that company servers and networks meet or exceed established security requirements. reside in company systems. It all depends on the context. Common Budgeting & Forecasting job titles: Budget Analyst, Budgeting & Forecasting Analyst, Staff Accountant, Cost Engineer, Financial Analyst. They also resolve workplace disputes (from simple disciplinary matters to complex litigation) and manage relationships with temporary employees, trade associations and labor unions. Common Application Management job titles: Application Developer, Quality Assurance Engineer, IT Application Analyst, Associate Developer. They plan, design, implement and maintain server configurations, routing protocols, network configurations and storage environments to facilitate the needs of the organization. The IT Procurement function manages the purchasing of technology-related assets and analyzes the point at which hardware/software should be replaced, based on total cost of ownership (TCO) and capabilities/features. Common Training & Development job titles: Training Coordinator, HR Specialist, Training Specialist, Resource Specialist. Shared Services refers to a group of centralized, non-revenue-generating operations that support... Finance. Common Strategic Sourcing job titles: Strategic Sourcing Analyst, Sourcing Analyst/Specialist, Strategic Sourcing Specialist, Manager of Purchasing & Strategic Sourcing. Chief Financial Officer Once a vendor is retained, the Vendor Identification and Management Group maintains a working relationship with them, continuously monitoring their performance. Please use the Contact Us form to request additional information. Some clients/customers may be extended a line of credit. It seems obvious (if you haven’t marked where you … They constantly measure results and revise procurement strategies to create a competitive advantage, reduce procurement costs and improve overall supply chain performance. The most common services provided by SSCs, shown in Figure 5, include high-volume transactional processes like accounts payable (AP), general accounting, accounts receivable (AR), and customer billing, all of which make an appearance in four out of every five SSCs. The Corporate Governance Group is tasked with creating the system of rules, practices and processes by which a company is directed and controlled (governed). [[DownloadsSidebar]] All eyes are on corporate-finance departments as they are asked to cut costs, reassess risks, and cope with the deep uncertainty generated by the current economic crisis. This org chart template outlines the structure of a typical Shared Services Group, including Finance, Human Resources, Information Technology, Legal, Master Data Management, and Procurement.... Be the Alpha Dog of Business Intelligence! Thus the funding and resourcing of the service is shared and the providing department … Organizational structure, chart . Let's get the conversation started. Companies benefit from significant cost reductions due to labor arbitrage and economies of scale. Sussex Economic Advisors is now part of ScottMadden. The Corporate Legal Department (internal) oversees a firm's litigation and compliance with internal and external regulations and laws. Common Internal Audit & Compliance job titles: Auditor, Compliance Resolution Analyst, Financial Compliance Analyst, Internal Audit Manager. While 64 percent of participating organizations are from the US and Canada, respondents also included organizations from Europe (26 percent), Asia-Pacific (8 percent), and Central and South America (2 percent). Much like walking a bull through a china shop, opening a shared services center isn't something you can do discreetly. While processes like AP, AR, and general accounting tend to have a high degree of centralization, highly analytical processes like planning, budgeting, and forecasting are the least centralized. The circumstances that surround tax management can be complicated, especially when taking into account the various rules of taxation dealt with by companies that operate globally. For top performers and the comparison group alike, SSCs are generally managed by the finance function. By continuing to use this site you accept our privacy and cookie policy. A Finance Department manages a firm's long-term and day-to-day monetary operations and strategy. They are also responsible for ensuring that the company does not infringe on the intellectual property of other companies or individuals. The IT Security Group is responsible for defining, communicating and enforcing technology-related policies, standards and procedures. Finance groups oversee incoming and outgoing payments, budget creation, cash management (treasury), accounting, financial reporting and many other tasks related to the finances of the company. A shared service organization can consist of several shared service centers, located across the globe. Common Network Administration job titles: Network Engineer, Network Administrator, Systems Administrator, IT Infrastructure Manager. Upon selection of a new candidate, Recruiting and Hiring employees will provide an offer and handle any subsequent salary negotiations. This report will also The median first contact resolution rate is 80 percent, while SSCs in the top quartile resolve 84 percent of cases during first contact (Figure 7). The scope of the study covers the following topics for an in-depth analysis of financial shared service centers (SSCs): Delivery model, scope of services, staffing, location, performance, and technologies leveraged. Figure 3: Percentage of SSCs with the Following E2E Processes in Scope, Figure 4: Amount of Non-labor Savings Generated from E2E Processes in the Finance SSC per $1 Billion Revenue, Non-labor savings from the implementation of end-to-end processes is nearly twice as high as labor savings (in the form of staff reductions or salary reductions, for example). But all too often all those gains are overshadowed by an inability to assess exactly how successful the SSO is proving, caused by a lack of proper measurement of existing service levels and operating costs before beginning a shared service implementation. Shared Services organizations typically include Finance, Master Data Management and Human Resources. Figure 3 shows that top-performing SSCs have end-to-end processes for procure-to-pay, order-to-cash, and record-to-report in greater numbers than the comparison group, especially when it comes to record-to-report. Figure 5: Which of the Following Processes are In-scope for Your SSC? Shared services – Catching the next wave. Those that do tend to focus on traditional, external-looking KPIs including AR (accounts receivable) days and AP (accounts payable) days. The Litigation Management Group performs the traditional courtroom work associated with lawsuits on behalf of the company. The A/R group is tasked with ensuring that payments are made within the terms outlined in the original invoice or contract (e.g., net 30 days). Common Payroll job titles: Payroll Specialist, Payroll Clerk, Payroll Processor, Payroll Officer, The Human Resources (HR) Department is responsible for personnel sourcing, hiring, training, skill development, benefits administration and compliance with applicable national, regional and local laws. Robust system and network security is especially vital in industries such as banking, consumer finance and insurance, where large amounts of private data (social security numbers, bank account information, etc.) They use research and user testing to fine tune applications to meet specific, detailed use cases. Common Master Data Management job titles: Chief Information Officer (CIO), Chief Technology Officer (CTO). The current organization structure of the group is functional with the hospitality division organized geographically. While ScottMadden believes that COE leaders are most effective Function Corporate Finance Centers of Expertise Service Center The Business Intelligence (BI) Group designs and develops databases and applications that pool, extract and analyze large amounts of data to provide management with insights on the overall performance of the organization as well as information on markets and competitors. Data from this year’s survey shows that the median shared services organization dedicates 11 percent of its employees to customer care, a figure that is down from 18 percent in 2014. They work with business units to maintain analytical and reporting capabilities by enforcing the quality, consistency and cleanliness of the data that they produce and manage. However, Sawridge is facing challenges in this function with the rapid growth in the company. Finance organization size varies based upon total company-wide head count, company revenue, industry, and overall business strategy. Moving process ownership and governance out of functional silos or departments can be hard work, DeMent noted, “but we noticed that end-to-end processes were delivering a lot of non-labor savings for organizations. If you would like information on this product please enter your email below. Common IT Management & Administration job titles: Business Analyst, Systems Analyst, Enterprise Architect, IT Project Manager. 404.814.0020 info@www.scottmadden.com. Once goods arrive at company facilities, logistics staff members inspect the order to ensure completeness (check against purchase order) and quality, then send the invoice to the company's Accounts Payable Department for payment. The Recruiting and Hiring function attracts, screens and selects talent for open positions within the company. Common Data Governance & Control job titles: Data Governance Specialist, Data Quality Analyst, Data Analyst, Data Governance Program Manager. Common Vendor Identification & Management job titles: Vendor Management Analyst, Vendor Management Specialist, Vendor Manager, Vendor Relationship Manager. 3. how to eliminate levels, so things can happen fast and not get caught in the hierarchy. Executive Vice-President Sony Perron. According to Deloitte, 88% of businesses who use a shared services approach to manage an organisation-wide business function use it to take care of their financial operations. finance function. In some cases, an internal Corporate Legal Group may also handle intellectual property issues (trademarks, copyrights, patents), risk management and/or corporate governance. Shared Services Organization Chart & Structure Shared Services. Common Mergers & Acquisitions job titles: Staff Attorney, Business Analyst, Acquisition Analyst, Financial Analyst. ), policies, procedures and systems. Further down the list is payroll, which Robinson said is increasingly coming under the scope of finance SSCs. Data and analysis from the finance shared services benchmarking study shows that: The study population is robust and diverse, with 468 organizations participating. The Legal Administrative Support Group is responsible for setting up a structure in which all legal documents (i.e., contracts, NDAs, etc.) But now that the shared services model is so well entrenched as a leading business practice, finance leaders appear to give less priority to how they can harness emerging practices to adjust their shared services … In short, they are tasked with aligning company systems with actual, real-world business needs, or requirements. The Controller Group also performs tasks such as cost accounting and fixed assets accounting. Data analysis and benchmarks to inform operations and identify improvement targets. Common IT Procurement job titles: Purchasing Agent, Procurement Officer, Procurement Specialist, Associate Director of IT Procurement. The finance department is often tasked with looking for ways to become more efficient and, for large organisations, this approach is often the answer to achieving economies of scale for the finance … Common Business Intelligence (BI) job titles: Business Intelligence Developer, Data Warehouse Manager, Data Analyst, Data Scientist. Both new and existing resources were utilized in this restructure. In some cases, the Tech Support Group may also be responsible for hardware and software procurement and asset management (licenses, warranties, etc.). Finance Automation / Finance Performance Management. In January of 2019, ScottMadden’s Brad DeMent and Trey Robinson delivered a webinar to discuss the results of the latest finance shared services benchmarking study. The Logistics Management function works with suppliers to facilitate the efficient and timely delivery of purchased goods. Activities commonly performed by the Systems Analysis Group include use case development, business process mapping & design, end user/stakeholder interviews, and system modeling (UML, SysML, etc.). The Forecasting Group also produces 'what if' scenarios to prepare the company for a variety of possibilities. “Shared services is a key tool for saving cost, not only in finance but also in HR, supply chain, IT, and other functions.” Figure 1 shows that while the majority of SSCs in both groups report to the organization’s finance executive, more top performers do so than the comparison group (7… Consolidating six accounting groups into one might mean replacing six sets of controls with one new set, for instance. When clients/customers fail to meet these terms, they are referred to the Collections Department (or a Collections Agency) and may face additional fees or penalties. While there is wide variation in corporations’ financial structure, what is universal is the ceaseless pressure put on all organizations to push their margins. Common Benefits & Compensation job titles: HR Compensation Analyst, HR Benefits Analyst, Payroll & Benefits Administrator, Benefits Manager. Figure 1: To Whom Does Your Shared Services Center Report? They work closely with business users and other internal stakeholders to understand their strategic needs and translate them into requirements as they relate to data storage and quality. For top performers and the comparison group alike, SSCs are generally managed by the finance function. Vendors, or suppliers, are judged on several criteria, including quality management practices, delivery performance (Is the shipment on-time, complete, in good order? If a control fails, it will now fail for all of the former groups, rather than just one of them. Rate Case Planning, Management, and Support, Top performing SSCs are more likely than the comparison group to report to their organization’s finance executive, Top performers leverage the global process owner role and service-level agreements for global process governance, Top performers adopt end-to-end processes at higher rates than the comparison group and generate more money in savings as a result, High-value processes like planning, budgeting, and forecasting are increasingly moving into shared services as part of centers of expertise. They identify vacancies, develop position descriptions, formulate a strategic recruitment plan, review/screen applicants and, finally, select individuals to be hired. The Accounts Receivable, or A/R, function is responsible for collecting payments from customers or clients for goods or services provided. While resolution rates are increasing, the size of customer care teams is steadily decreasing and “is another area where we’re seeing significant gains relative to prior surveys,” Robinson said. In some cases, the group may train existing employees to take over new positions. of a financial services firm ... agencies are reported as key organizational risks for shared services (KPMG, 2005). This framework helps finance leaders establish the base paradigm for activity location – middle office activities of low complexity should be moved into shared locations unless there is a well documented reason for exception; even those activities with medium complexity but broad impact should be considered for a shared location; activities with high complexity should be owned either by the … Common Vendor Compliance & Audit job titles: Procurement Specialist, Procurement Compliance Specialist, Compliance & Risk Officer, Compliance Specialist. Beyond reducing work, these processes translate to fewer errors, reduced penalties, more discounts from vendors, and even lower audit fees as things become more centralized.”. If you’re looking to build a business case for end-to-end processes, you might consider using these numbers to prove out the case.”. Performance-driven culture Most companies do not use KPIs to monitor the activities of internal finance and accounting functions. Common Enterprise Architecture (EA) job titles: Enterprise Architect, Systems Administrator, IT Architect, Software Architect. The Data Governance and Control function is responsible for developing company-wide policies regarding data use and setting standards for data quality and security. This product is currently not available through the website. The Mergers and Acquisitions Group is tasked with defining strategies for potential mergers with other companies and buying out smaller companies. In other words, shared services can contribute to bottom-line decisions that make or break performance, and become a competitive differentiator for the company. Area definitions, KPI examples and common job titles for a variety of industries. The function also ensures that all tax payments are in compliance with any government requirements to avoid interest fees or penalties. Shared Services refers to a group of centralized, non-revenue-generating operations that support multiple divisions, or lines of business, of the company. We live in a diverse financial world. “Often, the finance function is saddled with the task of saving cost across the entire organization,” DeMent explained. Expenses can include travel, lodging, entertainment and food. Also all operational finance back- office processes can be completely centralized within one world- wide location in a low-wage country. This includes, but is not limited to, the administration of company email systems, business intelligence and enterprise resource planning [ERP] platforms, network setup, data backup and retrieval and document storage. Centers of Excellence (COEs) for all major transactional processes were created to promote efficiencies, develop our people, enhance career paths, promote sustainability, and improve controls. related to company systems. The Accounts Payable, or A/P, function is responsible for keeping the lights on and ensuring that all company vendors are paid in full and on time. in the past 15 years, finance shared service centers have become so widespread that the idea of r unning a top-flight finance function without one is almost unimaginable. Our strong team of consultants employs an adaptable framework to guide clients to the best decision for their unique situations. Most companies try the shared-services model in their home country first and then export the concept to other parts of the world. For DeMent, these numbers are indicative of stronger relationships between top-performing SSCs and the business unit: “There’s less reliance now on top-down leadership councils and more trust in shared services operations to deal, on a daily basis, with the business units, service level agreements, and through the global process owners.”, Organizations are increasingly moving to end-to-end processes to improve organizational agility, link processes and work to customer value, and create sustainable process improvements. Sscs, and other stakeholders standardization to maximize liquidity and reduce costs improve. The ongoing Support ( for users and infrastructure ) of existing company Systems with actual real-world! 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Real-World business needs, or Taleo explore investment options for excess cash Management & Administration job titles: Contract. Company 's books and ensuring that a company 's assets to maximize company performance by Training and improving. Increasing number of functions common Government affairs job titles: budget Analyst, Information Security Engineer, Developer... Have traditionally been difficult to quantify in business cases, but this is a statistically significant survey use to. Of their peers figure 5: which of the company fails, IT will now fail for all the.