Finance Shared Services Implementation: The Roadmap to Reducing Costs and Improving Customer Service
ScottMadden has helped a number of organizations achieve efficiencies through design and implementation of a shared services center. Contact us to learn how we can help support your business transformation and shared services projects.
At a Glance
End-to-End Implementation Support
Performed end-to-end shared services implementation, including:
- Performed current state assessment
- Designed future state model
- Developed interim processes
- Created business case
- Delivered implementation plan
Financial Savings
Expected realization of nearly $1.5 million in annual savings
Future Opportunities
Laid the foundation for future growth through migration of additional functions or acquisition of other companies
Challenge
ScottMadden was engaged by a leading defense contractor to design and plan the implementation of a financial shared services center which would include accounts payable, payroll, and general ledger accounting functions.
Process
- Conducted a current state assessment of each function, including processes, organization roles and responsibilities, and technologies used. Assessment included development and deployment of a customer satisfaction survey
- Designed the future state service delivery model with the project team and executives. Identified initiatives required for implementation
- Designed interim processes to be used with the old financial system as well as future processes that were aligned with the new system
- Developed a business case that detailed costs and benefits related to implementation
- Conducted executive review sessions to discuss the future state design, business case results, and timeline for implementation
- Developed an implementation plan to migrate in-scope functions from the business units to the shared services center
Result
- Provided a clearer understanding of shared services’ objectives, benefits, and direction among business units
- Resulted in expected realization of nearly $1.5 million in annual savings
- Provided a baseline measure of customer satisfaction
- Developed a detailed plan and timeline for transition of functions to the shared services center
- Developed business processes based on leading practices
- Created a platform for future growth through migration of additional functions or acquisition of other companies
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