Shared Services managers continue to automate the processes that they manage, by optimizing ERP, implementing workflows and deploying dematerialization solutions, etc.
Productivity gaps are widening between Shared Services, which are adopting new technologies, and other services, by factors of 2-6 depending on the process. Furthermore, companies that do not have Shared Services are much less well-equipped to deploy these new technologies.
Digital transformation is accelerating because of several factors:
- The legal framework that regulates electronic exchanges, particularly invoices, is becoming more advantageous. For example, under its 2014 simplification law, the French State requires suppliers to provide paperless invoices without any requirement for an electronic signature
- The wider range of Cloud and SaaS services is reducing initial technological investment. In particular, Shared Services that use several ERP can implement flexible and agnostic ERP solutions to optimize their processes, such as Trintech, Blackline, and Chesapeake for reconciliation and account closing activities
- New digital and self-service channels are multiplying, such as client, supplier, and employee portals.
In the future, digital transformation will bring about a mutation of Shared Services:
- The percentage of highly transactional activities will significantly drop
- There will be an increase in data analyst roles, who are responsible for controlling data flows and managing data masters, anomalies, and exceptions
- Distance-working will increase
- Shared Services will cover new activities, such as digital channel management (e-Commerce)
Senior management must ask the following four key questions:
- What level of maturity does Shared Services have? How big is the gap?
- What efficiency and quality challenges are presented?
- What are the technological options?
- Which digital transformation roadmap should be adopted?
How Argon Consulting help you?
The experts at Argon Consulting have an excellent grasp of Shared Services digital transformation issues. They help their clients to define a transformation roadmap and support them in making technological choices and in implementing them.