Over the past several years, there has been a shift in focus for shared services organizations with respect to optimization. While cost reduction was central to achieving center optimization and a key operational objective to most centers earlier this decade, it has now become table stakes. Shared services centers have begun to zoom in on process vs. activities optimization.
This sentiment is underscored in the 2015 Annual State of the Shared Services Industry Report by the Shared Services and Outsourcing Network (SSON) which surveyed over 450 shared services and outsourcing practitioners. Almost 75% of the respondents indicated that driving business value and process transformation is now core to their shared services operations.
The report also identified 5 key trends that are creating an impact on the shared services space:
- Process optimization
- Digital transformation
- Data analytics
- New and evolving skill sets
It went on to conclude: “Perhaps the most consistent message emerging from this survey is that over the next five years, practitioners will overwhelmingly be relying on technology to deliver optimization.”
Here at ProHance, we have seen increased traction with shared services organizations this year and from our interactions, we are hearing the same theme over and over: there is a greater focus than ever before on process improvement and transformation. Shared services executives have been given mandates to enable higher value flow from their organizations to the businesses they support.
Over the next several weeks we will examine the above 5 key trends and provide examples on how shared services organizations are leveraging technology to optimize their centers. Stay tuned for the first post in the series on Process Optimization!