Shared-service organizations (SSO) are about to get a digital upgrade. For decades, SSOs have empowered enterprises to generate efficiencies of scale, reduce processing costs and cycle times, and increase the quality and accuracy of services. By combining transaction functions such as HR, finance, procurement, IT and legal into a consolidated service hub for the entire company, SSO have delivered significant business value. In fact, according to Deloitte’s 2017 Global Shared Services Survey, 3 out of 4 respondents saw productivity increases of 5% or more in the past year.
But this is not the end of the journey – due to advances in automation and digitization, SSOs have the unique opportunity to expand their scope, integrating increasingly more knowledge-based processes alongside transactional processes, and folding more functions into SSOs. On top of that, Robotic Process Automation (RPA) has become a core tool for SSOs, shifting their value proposition from labor arbitrage to technology that seamlessly connects manual and automatic activities.
While the future looks bright for companies that are successful in digitally transforming their SSOs, companies that don’t evolve and rely on manual processing will see the benefits of their SSOs deteriorate. In a recent study of McKinsey, it was found that only a quarter of SSOs have started to build the digital capabilities required to improve internal processes and interact with customers and partners more efficiently.
In this guide, we cover 3 key strategies to make your SSO a digital powerhouse.
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