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4 Practical Steps to Achieve a Successful Shared Service
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A centralized shared service environment is critically important for the optimization of the delivery of cost-effective and reliable services to customers. Such a system streamlines the management of internal processes and ensure back-end functions perform accurate data capture.

To achieve a successful shared service, organizations must follow 4 important steps:

1. Simplifying

Transformation begins with simplifying complex tasks. Automation of complex business processes demand significant up-front investment of time and money. Further, you cannot just move to a shared services environment and expect the same type of returns achieved when the hard process work was done first.

2. Standardizing

When moving to a shared service, standardizing is preferred over customizing. This helps to ensure new employees adhere to standardization efforts. No one can customize the application or deviate from the standard approach unless they have approval from the top office.

3. Centralizing

The main goal here is to create a more consistent and strategic approach to improve individual and organizational skills. The drivers to provide these global solutions reduce disparate systems, create a common leadership language, implement high-quality and repeatable learning experiences, enable investment on high-impact business initiatives, and improve vendor management and internal processes.

4. Automating

When it comes to shared services, you must establish a platform that enables rapid innovation, delivers standardization, and keeps pace with changes in the dynamics of business. Applications must be easily consumable and upgradeable. Each time a data model changes or an app is upgraded, integration must be quality assured, tested and certified. Your platform should automate all these tasks so employees can focus on their primary tasks.

Shared services can introduce valuable capabilities within organizations. It can also be helpful in creating new products and services and using analytics for business planning. These four steps can be worked on and easily help you achieve a successful shared service.

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