Increasing Productivity at Your Shared Services Center
The goal of a shared services center is to increase efficiency by centralizing business-critical roles for your entire business. Unfortunately, accomplishing this feat can be easier said than done.
With a dedicated team managing specific tasks for all of your locations, accounts, and business units, you can take advantage of the economy of scale. However, your shared services center still has to deal with repetitive, time-consuming tasks — and at an even higher volume. The departments that are the best candidates for consolidation typically involve manual processes that require valuable resources to complete, such as accounting, human resources, and procurement.
Instead of managing these processes by hand, your shared services center can rely on automation to make things simpler. In fact, IntelliChief’s shared services software can complete routine processes quickly and accurately, eliminating some tasks entirely to reduce the amount of work burdening your back-office administration. It can also standardize your processes, eliminating confusion and ensuring that everything is completed to your company’s standards. And because our solutions can scale as your company grows, you can easily manage an increase in work without having to expand your team.
The Growing Role of Software in Shared Services
Your shared services centers employ a variety of technologies to keep your business on track — from simple accounting programs to enterprise-level business systems. While these point solutions can be somewhat effective for a single department, managing each of these technologies individually can add to an already overloaded schedule.
IntelliChief’s shared services software offers an easy way to sync data across multiple locations and business systems. By integrating with each of a company’s stand-alone platforms, IntelliChief provides each program with accurate, real-time business data. For example, your accounting shared services employees don’t have to spend their time on repetitive data entry. IntelliChief does the work for them — at a faster clip and with far fewer errors. Once a business document is added to IntelliChief, any authorized user – from any location – can access and utilize the information.
IntelliChief is also designed for business process automation, which more and more shared services centers are implementing to increase productivity.
In a Deloitte survey of more than 1,100 shared service centers, almost one out of every four respondents reported that they were “actively exploring” robotic process automation (RPA). Meanwhile, over a third of the respondents believe that RPA will help them save 20 percent or more on their back-office operations.
At IntelliChief, our outcomes reinforce that belief — with many of our customers achieving a full return on their investment within a single year. Our RPA software can complete a variety of tasks behind the scenes, reducing the amount of manual work that shared services centers have to complete.
Robotic Process Automation (RPA) in the Shared Services Model
RPA makes routine processes repeatable, scalable, and cost-efficient. Our technologies can streamline common tasks such as:
- AP transaction processing
- Invoice matching
- GL coding and invoice approvals
- Manual data entry
- Unit and measurement conversions
- Human capital management
- Customer service
With our solutions completing your low-value tasks, your shared services organization can devote more resources to strategy and revenue-driving projects. The more you automate, the more you’ll be able to reduce your costs – and the more you can increase your competitive advantage.
Investing in New Technology for Your Shared Services Center
Whether you’re just developing a shared services strategy or consider yourself a mature (or semi-mature) SSC, new technologies can help you continue to improve. KPMG has found that the “ideal” shared service operating model tends to shift every few years – and recommends that companies include regular investments into their plans for the future.
The highest ROI typically comes from technologies that can be used enterprise-wide. That’s not to say that it’s necessary to automate every single process at once – but it is valuable to have the ability to expand your automation strategy when you’re ready and able.
With IntelliChief’s shared services software, you can improve many different aspects of your business – from your procure to pay cycle to your accounts receivable cycle (and everything in between). You’re able to leverage a single investment over and over again – and integrate it with all of your center’s existing technologies.
Our software can complement any other technologies that your shared services center already has in place. Whether you’re built on a single ERP or a combination of business systems, our experts can customize your integration to support your existing architecture. From there, you can start using your legacy platforms more effectively.
Track and Review Your Shared Services Center’s Performance
To measure your performance – and identify the places you need to improve – you need a detailed analytics platform. IntelliChief Analytics makes it easy to monitor key KPIs, like straight-through processing rates – so that you can continue to grow. Create custom reports based on your own criteria, or use the pre-built dashboards with your own company’s data. You can find anything you need to know about your shared service center’s performance.
Start Working Smarter with IntelliChief’s Shared Services Software
At IntelliChief, we’ve worked with hundreds of companies, including multi-location and international corporations. Our solutions are completely customizable, and our team is here to provide the support you need at any time. From business process optimization services to software modifications, we’ll make it easy for you to automate your processes and work more efficiently.