Shared services performance is defined as consolidating and redesigning selected internal support services and functions to deliver the most cost effective and high-quality services possible. To increase efficiency, organizations utilize scale economies, leverage technology, implement standardization/ coordination, conduct reengineering opportunities and demonstrate a greater span of control.
Shared services can drive savings in different ways. These include:
- Organize around end-to-end processes.
- Reengineer the new organization.
- Reduce process complexity.
- Standardize policies and business rules.
- Minimize the number of IT systems.
- Adopt “best achievable practices.”
- Eliminate duplications between operating units.
- Reduce physical locations and improve productivity.
- Distribute the workload throughout the month.
This sample document can be used as a guide for transforming services and functions associated with the shared services center.