• ABOUT
• TOOLS/RESOURCES
• EVENTS
• BLOG

The Road to Financial Shared Services

---

Focus Area: Purchase to Pay
Publication Date: 01/01/2014

Road to Financial Shared Services:
A Manager’s Guide to Transformation & Outsourced Services

Introduction

The economic downturn and subsequent economic recovery has created a number of strategic imperatives for finance managers. Key among these initiatives is a drive for permanent cost reduction in transactional finance areas. While many F100 companies have adopted shared services centers, many F1000, especially in manufacturing and services industries, have not. PayStream’s Finance Operations Survey reveals SSC (Shared Service Center) penetration of only 32 percent for companies over $1 billion in revenues. This combination has combined to create one of the most exciting business environments for transformation including outsourcing non-value-add processes solutions in recent memory. Finance executives are actively seeking to identify opportunities to improve performance and create added value.

As a result, PayStream Advisors is developing a custom report for professionals who are seeking information regarding Design, Transformation, and Business Process Outsourcing (BPO) strategies for their accounts payables and receivables operations. This report is intended to help executives make strategy, technology and partner selection decisions as they evaluate new service strategies around automating core finance functions for billing, collections, procurement, accounts payable and disbursement. This report will introduce original research and highlight thought leadership from a limited number of service/solution providers who have strong capabilities and product strategies to meet the needs of medium and large back-office financial processing departments.

Audience

VP-Finance, CFOs, controllers, A/R & A/P managers, purchasing managers, shared services managers, disbursement managers, treasury operations, and IT directors at companies who understand basic concepts and opportunities around centralization, process design, and automation and are considering leveraging a service provider to solve the paper-intensive document management process in their departments. This report is targeted to individuals who seek information about best practices, case studies, provider and services information to identify appropriate strategies, solutions and partners to help them achieve their specific goals.

Objective

The primary objective of this report is to provide an overview of the strategy to design and build a shared services center and/or business case for outsourcing of finance transaction processing in today’s economy. PayStream will examine how the need for cost reductions and greater efficiency in today’s economic environment are driving organizations to redesign and outsource functions of their current finance process. PayStream will examine how to select a provider and what key questions need to be asked. This will be followed by profiles of three to five design/transformation and BPO providers.

Report Sponsorship

Please contact at 704-405-5983 for sponsorship opportunities.