How can organizations minimize, offset, or capitalize on the business consequences of a global economic slowdown when deciding to implement or re-evaluate their current shared services centers? Here we give our view.
Today, companies are trying to balance a new wave of cost-reduction imperatives with long-term planning initiatives. For many executive teams, this focus involves determining exactly what expectations they should place on financial shared services centers (FSSC).
The answers aren’t always obvious. Companies with a center in place may believe they have already realized—or are well on their way to realizing—the results targeted in the center’s original business case. For other companies—including those in the midst of planning a center—recent economic trends demand a careful re-examination of assumptions, dependencies, and implementation schedules.
For companies who understand their FSSC-related risks and opportunities, the rewards, not just now but later, could be significant.