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Understanding Shared Services
Companies and public sector organisations are looking to shared services to improve efficiencies and lower costs - -
CONTENTS
Introduction
Shared services, whereby support functions common to multiple units within an organisation are consolidated in a single provider, are a growing trend for companies and public sector bodies looking to cut costs and improve efficiencies
Private sector
The private sector is leading the way on successful implementation of shared services. But to make it work, companies need to ensure that they secure support from across the organisation
Case study: Icelandair
Switching to a shared services model enabled the carrier to launch an acquisition spree and staff to focus on core tasks
Public sector
In the wake of pressure to improve service delivery while cutting costs, the public sector is beginning to embrace the shared services model to take advantage of economies of scale and streamline processes
Case study: Her Majesty’s Prison Service
Running a network of correctional institutions throws up a unique set of issues
Getting started
Shared services come in many shapes and sizes. But to benefit, companies need to win support from senior management and do their research into what model suits their organisation bests
Partners
Once a company decides to implement a shared services programme, it is essential that employees, suppliers and partners develop a cohesive relationship. Unless this happens, shared services will not work
The functions
Shared services models have traditionally focused on back office functions, such as IT and HR. Increasingly, however, organisations are shifting key strategic functions such as R&D, too
Technology
Technology has made it possible to integrate the range of functions that makes shared services possible
