Shared Services and Financial SystemsCreating value through financial systems–enabled shared services |
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Shared services can enable important and material benefits for organizations. Potential benefits include cost reduction, process improvements, quality improvements, and improved risk and controls management.
To achieve the greatest benefit, an effective and consolidated financial system is a critical component of the shared service center (SSC). While incremental benefits can be achieved without effective financial systems, an SSC strategy and roadmap should include a plan to enhance the technology environment. Managing and enforcing the SSC strategy and roadmap should be treated as an important role in the financial executive’s agenda, to build initial and future success.
This chapter, extracted from the John Wiley & Sons published book, IT Best Practices for Financial Managers, by Janice M. Roehl-Anderson, principal, Deloitte Consulting LLP, discusses the positive impact and opportunities that financial systems can have on shared service implementations and operations.
Key discussion topics include:
- Leveraging financial systems as a foundation to enable benefits when implementing and enhancing shared services
- Critical considerations for SSC and financial systems implementation
- Understanding the critical role of the financial executive in shared services implementations and operations
This article contains general information only and Deloitte is not, by means of this article, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This article is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor.
Deloitte, its affiliates, and related entities shall not be responsible for any loss sustained by any person who relies on this article.
As used in this document, “Deloitte” means Deloitte & Touche LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
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Shared Services and Financial Systems
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