Finance Shared Services Transformation

With budgetary pressure and revenue challenges, organizations today want to lower cost of services (such as finance, HR and administration) while improving service quality and gaining greater control over the services. The financial function offers a unique opportunity to meet these goals through shared/ outsourced services.

HOW Innokat HELPS

Innokat’s Finance Shared Services Transformation and BPO Advisory services are based on a deep understanding of your needs and deliver customer centric solutions that:

  • Reduce total cost of finance ownership
  • Simplify finance processes through process standardization and harmonization in a multi system landscape
  • Enable automation for greater accuracy and higher productivity
  • Ensure timely execution of processes to mitigate regulatory and business risk

Our end-to-end services provide you with feasibility studies, location analysis, design, implementation, transition and transformation of shared services and outsourced business processes.

SERVICE COMPONENTS

Globalization, lowered cost of communication, remote processing, process and system convergence and standardization are driving transformation in financial services. We leverage existing and exploit emerging technologies to deliver a range of Finance Shared Services Transformation and BPO Advisory services to meet emerging needs. These include:

  • Baseline Assessment
  • Process optimization and rationalization
  • Location analysis
  • Finance organization design and optimization
  • Target operating model optimization including shared services and BPO

BENEFITS

Our Finance Shared Services Transformation and BPO Advisory services have consistently delivered a range of benefits to our global customers. These include:

  • Savings from lowered cost of finance ownership (up to 50%)
  • Reduction in headcount (up to 50%)
  • Reduction in transaction costs (up to 25%)
  • Reduction in supplier cost (up to 30%)
  • Improved service quality
  • Improved productivity
  • Greater control (ability to adapt to changing conditions and scale based on business needs)
  • Better leverage of learning curve