Defining the vision and purpose of your shared services centre
Delivery Construct / GBS / Outsourcing, Finance shared services, Leadership / Governance, Maturity / Organisation, Process excellence / Compliance, SSO Journey / Set Up / Location
While I’ve been doing research for sharedserviceslink.com’s Annual Summit for Leaders in Shared Services I have been asking a lot of shared services leaders about their success factors. A key message that has stood out is how you define the vision and purpose of your shared services centre is key to success.
Taking tips from some of the shared services leaders I spoke to, here are some of the critical factors in establishing your vision and purpose.
Define your goal. What is the raison d’être of your shared services? Leading shared services centres have defined themselves as the business partner that enables the revenue generating business units to reduce their costs and achieve their revenue targets. They are there to realise cost and process efficiencies while delivering the best possible service.
Align your vision. As I said in my blog last week, CEOs and CFOs will need to have a holistic approach for driving growth, profitability and share value. In their view, all elements of the business should support these critical attributes. Your shared services vision needs to align with these priorities.
Constantly focus on value. What can you add to the company that goes beyond cost saving? Your shared services need to look at process and systems efficiency that enable people to deliver the service quality that customers expect.
Remember who you work for. Shared services centres should be seen as a service to your customers. Just like any business that has to nurture client relationships, consider having service agreements and customer satisfaction surveys.
The design of your shared services centre is critical to the success. If you get the above right, you are on your way to a well-balanced business that has great and sustainable potential. How have you established your vision?