Also in the news...
Norway's WTO Trade Policy Review: UK Statement
UK Statement at Norway’s World Trade Organization Trade Policy Review. Delivered by the UK's Permanent Ambassador to the WTO and UN, Simon Manley.
UK-Norway Iceland Liechtenstein free trade agreement
Business guidance, reports and other documents to help you understand the UK-Norway, Iceland, and Liechtenstein free trade agreement (FTA).
Essential Steps Before Launching an International Auction Business
Expanding a business internationally presents unique challenges, particularly when that business involves auctions. The global auction market continues to grow as more entrepreneurs see its potential for reaching new customers across borders. However, success in this specialised field requires careful planning and the right technological foundation.
Innovative Welsh exporter puts Britain at the forefront of global immunisation efforts
UK Export Finance supports renewable energy tech company Dulas to deliver life-saving vaccine refrigerators to over 80 countries worldwide.
British aerospace manufacturers to benefit from UK-US trade deal
British aerospace manufacturers to benefit from UK-US trade deal as further details announced
What are the benefits of shared services?
Benefits of shared services Shared services are an organizational model where a defined set of support services are managed by an independent, internal, and centralized organization. Shared services separate operational and strategic activities to enhance focus and effectiveness throughout the organization.
What are the benefits of shared services?
Culture
The front office culture of the company becomes customer centric, as well as improving service and lowering costs. It also improves ownership of work as accountability and responsibility of work is increases.
Charging mechanism
The defined model of a transactional charging model, similar to using a third-party supplier, lowers costs for the company.
Objectives
Shared services help companies improve their efficiency and effectiveness, therefore offering a higher service excellence. It also creates standardisation throughout the business and enhances performance.
Governance
Shared services provide a governance framework through daily control through management systems, transparency, cost control and service excellence.
People Development
Regular investment in skills is a normal part of shared services, staff are encouraged to upskill, cross skill and learn new skills through training plans and performance management.
Organizational Structure
The structure of a company when utilizing shared services means that staff are organized in end-to-end service delivery by an end-to-end process and in a customer centric manner.
Continuous improvement
Shared services ensure that service is efficient and feasible; processes are improved, and automation increased to improve the effectiveness and productivity of the company.
The benefits available with shared services are numerous with the opportunity for many technological advancements such as robotics process automation (RPA) and artificial intelligence (AI). Shared services have helped companies globally expand and scale.
If you need support with implementing shared services, contact us here