Shared Services

According to Wikipedia, “Shared services refers to the provision of a service by one part of an organization or group where that service had previously been found in more than one part of the organization or group. Thus the funding and resourcing of the service is shared and the providing department effectively becomes an internal service provider.

In establishing and running a shared service, benchmarking and measurement is a necessity. Benchmarking is the comparison of the service provision usually against best-in class. The measurement occurs using agreed key performance indicators (KPIs).”

Organizations implement services initiatives to achieve cost transparency into their business. Cost transparency is the clear understanding of what services and goods cost and why. It's important to understand external cost drivers as well as the consumption of resources to internal customers. More and more organizations have adopted the sharing of internal expenses within a company. This eliminates duplication of resources that perform the same tasks. The overall objective is to reduce overhead cost structures and at the same time increase the utilization and quality of internal resources.

Find out how Acorn's solution solves the common challenges found in implementing shared services initiatives [ read more ]		Get a snap shot of what Acorn's Solution provides [ view samples ]

Additional Resources

Performance Solutions for Financial Services

Internal Cost Analyzer

Internal Cost Analyzer Technical Documentation

Cost Transparency and Profit Improvement in the Financial Industry

IT Value Management