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Over the last two decades, shared services has ushered in an era of untold cost savings and efficiencies. That model in recent years has been applied to higher-order services—those services requiring more skill and/or a need to be closer to the end customer. As a result, the shared services reporting relationship, and the influence that goes with it, has migrated increasingly toward the C-suite.

With shared services now shifting onto the plate of the CFO, it is receiving increased focus. But as many organizations are enjoying the initial benefits of shared services, many more have only scratched the surface of what is possible, says a new report from Deloitte.

Many finance executives have long appreciated shared services' potential to yield cost and control benefits. At many companies, the finance organization is the first to adopt shared services to perform functional enabling services: In Deloitte's 2011 global shared services survey, more shared services organizations (SSOs) included finance processes than processes in any other function. The use of shared services can allow finance executives to not only cut functional operating costs, but also reduce the cost and complexity of the internal control environment. In fact, 85 percent of respondents said that shared services had a positive impact on the company's level of controls.

As more and more companies implement shared services for their own finance organizations, however, any competitive advantage a company may derive from such gains will likely diminish. What forward-thinking finance executives should now explore are strategies for pursuing benefits beyond the "baseline" gains afforded by the standardization, consolidation, and automation inherent in many shared services implementations.

More organisations are delivering value to their bottom line through effective implementation of shared services initiatives, according to the results of Deloitte’s sixth biennial Global Shared Services Survey.

It also found that organisations headquartered in Australia and New Zealand continue to establish and/or expand their shared services operation. Greater interest in shared services by state governments, especially in NSW, has lead to the creation or expansion of a number of domestic SSCs.

Globalization and new technologies are driving a new enthusiasm for an old idea. Whether called centers of excellence, shared services, or business process outsourcing, the goal is the same: eliminate duplication, enforce standardization, and cut costs. And CFOs lead the charge.

In 2010, Mike Holmes was lured out of retirement by his last employer. His charge was to run the company’s shared-services center in Malaysia until he could find someone who could take his place, train that person, and then return to his happy retirement. Why did the company reach out to its former finance director, then two years retired?

Building a network that can be shared across public sector organisations brings cost savings and is necessary to deliver other shared services, but it also brings its own challenges

This paper looks at the top 10 vital ingredients used to build and run these networks based on the experience of MLL Telecom, a specialist public sector network operator.

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IfG.CC - The Potsdam eGovernment Competence Center

Q&A: Unlocking the Full Potential of Shared Services

Beyond Baseline: Considerations for Enhancing Shared Services' Cost and Control Benefits

Shared services centres improve bottom line: Deloitte

Shared Services: The New Old Thing

Top 10 ingredients for building shared networks