Implementing Finance Shared Services: Benefits and Best Practices
Published: 21 April 2008
Shared services is a technology that's high on the agendas of CFOs looking to increase the operating efficiency of their finance functions. The analysis of successful projects reveals several best practices that organizations considering finance shared services should adopt.
Table Of Contents
- Standardize Finance Systems Before Moving to Shared Services
- Define Your Global Chart of Accounts Structure Before Moving to Shared Services
- Group CFOs Must Be Prepared to Get Their Hands Dirty
- Be Prepared to Remove In-Country Finance Operations
- Standardize Low-Value-Add Processes Globally
- Before You Proceed, Ensure That Shared Services Are Right for You
- Finance Shared Services Must Be Strategic to Succeed
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