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2013 | Book

Strategic Roadmap of a Global Finance Shared Services Organization Read chapter Read first chapter

Finance Bundling and Finance Transformation

Shared Services Next Level

Editors: Frank Keuper, Kai-Eberhard Lueg

Publisher: Springer Fachmedien Wiesbaden

Part of: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

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About this book

In managerial literature the challenges of ramping-up, growing and enhancing a (Finance) Shared Services Organization are regularly neglected. Therefore, the compilation will address two objectives: First, based on a generic phase model of an SSO’s development, frequently arising questions related to the management of SSOs shall be systematically discussed and practicable solutions derived. Secondly, a picture of the future of SSOs shall be elaborated, resulting in new future management implications.

Table of Contents

Frontmatter
Strategic Roadmap of a Global Finance Shared Services Organization
Abstract
The implementation of Shared Services structures is now in many areas and in many regions a widely accepted model to gain process efficiency and reduce costs. But the evolution is ongoing. Shared Services are increasingly being seen as a modern, effective and efficient way for multinational companies to organize and streamline their administrative structures across borders.
Kai-Eberhard Lueg

“Lift and Drop” – Gaining Speed and Volume for a Global Finance Shared Services Organization

Shared Services Generating Value for Business
Abstract
This interview explores the customer point of view on Shared Services Organizations (SSOs) and was conducted with Dr. Ralf P. Thomas, Chief Financial Officer of Siemens Sector Industry – which is one of the world’s leading suppliers of innovative, environmentally friendly products and solutions for industry customers.More than 100,000 employees in this Sector generate a business volume of around 20 billion Euro and enable a leading market position. The Industry Sector of Siemens is one of the key customers of Siemens Global Shared Services and supports the idea of centralizing specific processes in order to generate value for the entire Siemens company.
Ralf P. Thomas
The Role of a Governance Function in a Shared Services Environment
Abstract
This interview will explore the role of a governance function on Shared Services Organizations (SSOs) and was conducted with Dr. Jochen Schmitz, head of Corporate Finance Reporting & Controlling. The focus of this interview is the Siemens Shared Services Organization, precisely the area of “Accounting & Finance Services” (roughly 2,500 employees). This interview will investigate the relationship of a Shared Services Organization with its governance function, in the case of Siemens Corporate Finance.
Jochen Schmitz
Finance Bundling: Transforming the Finance Regional Organization of a Global Player
Abstract
This chapter revisits the global Cluster Finance Bundling project conducted by Siemens AG from 2009 to 2011. Its purpose is to summarize both the strategic challenges addressed by the project as well as the key cornerstones of its successful implementation. It thus provides insights and guidance on the inception and completion of large-scale project in the field of optimizing a regional finance organization with special regard to shared services.
Klaus P. Stegemann, Sigrid Dengler, Alexander Riedel, Tobias Weber
Managing the Transformation During a Finance Shared Services Journey
Abstract
During an implementation of Shared Services the impact on organizational change is quite often underestimated and the transformation management not properly setup.
Marcell Vollmer, Peter Rasper
Shared Service Trajectories
Abstract
Numerous studies have reported on the virtues of shared services—especially cost reduction and quality improvement. Process standardization plays a prominent role in strategies to deliver those benefits. This chapter reviews previous research on process standardization and shared services to outline how unbalanced standardization causes shared service centers to transition into less effective service delivery modes.
Frank Ulbrich
Successful Management of Transition Projects in Finance Shared Services Organizations
Abstract
Mainly from 2010 to 2012, Siemens drove a comprehensive global infrastructure bundling program. As a major part of that program, more than 300 transition projects were conducted in the area of transactional accounting.
Stephan Boos
Managing the Growth from a Shared Services Center Perspective
Abstract
This interview is conducted with Dan Novak who is heading the Accounting & Finance Services Center in the Czech Republic and is also responsible for the business administration tasks of the two locations in Prague and Ostrava. Before he joined the Siemens Shared Services organization, he was working as CFO for a large Gas Turbine company within the Sector Energy. Thus, he also knows the business from the angle of those to whom the Siemens Shared Services organization provides the services.
Dan Novak

“Change” – Get to the Next Level of Shared Services Maturity and Productivity

Process Improvements for Accounting – A Systematic Approach
Abstract
Taking over transactional accounting activities from more than 300 legal entities worldwide and their subsequent bundling in the captive Service Centers was just the first step of the Siemens’ Shared Services Organization on its evolutionary journey.
Otto Wendland
Leverage Finance Shared Services (FSS) to Optimize Overall Corporate Performance
Abstract
In order to compete in today’s global and rapidly changing environment, organizational setups and processes are continuously under close scrutiny. Over the past two decades Shared Services have become established globally as an organizational model for the delivery of administrative support processes. While the initial focus was on finance processes, companies started applying the model also to IT, HR, procurement, and real estate; just to mention some.
Annette Häusser
Visualize and Monitor Shared Services Quality by a Corporate Dashboard
Abstract
One of the most difficult tasks shared services managers face is measuring and demonstrating value returned to their stakeholders. How can the value of Shared Services be measured, specifically in terms that are quantifiable and meaningful to customers and senior management? How can it also, at the same time, be guaranteed that this analytical measurement is actually useful as performance and analytical tools by the shared services leadership team?
Oliver Wolf
Process Quality and Performance in a Shared Services Environment
Abstract
Shared Services Organizations work closely with their clients to design, implement and enact service processes. This shared responsibility poses particular governance challenges that cannot be fully addressed through conventional service level management or end-to-end performance indicators such as cycle times.
Matthias Lohrmann, Alexander Riedel
A Conceptual Model for Measuring the Service Quality of Shared Services Organizations
Abstract
Current measures of internal service quality (SQ) do not adequately capture internal customers' perceptions of SQ provided by human resource (HR) Shared Services Organizations (HRSSOs). In order to gain a better understanding of the construct and its ability to predict important internal service outcomes, namely customer value (CV), satisfaction (SAT) and behavioral intentions (BI), this paper outlines a conceptual model of internal customer perceptions of SQ provided by HRSSOs.
Stefan Röder, Frank Keuper

“Enhance and Innovate” – From a Service Provider to a Strategic Partner

Shared Services for Smaller Entities
Abstract
Shared Services is an organizational concept well introduced for years. Over the last years the scope of services provided and organized in Shared Services was continuously extended.
Kai Zabel
Shared Services as Integrated Business Partners Manage End-to-End Processes
Abstract
Shared Services in today’s business environment are mostly implemented for rather transactional activities. An enlarged scope of activities can be a starting point to follow an End-to-End process management. End-to-End means that processes are optimized from the real start to the end of the comprehensive processes.
Joachim Jäckle, Sebastian Wolf
Developing and Selling New Portfolio Elements in a Captive Shared Services Environment
Abstract
Shared Services Organizations (SSOs) are considered as powerful enablers of enterprise benefits when effectively implemented and managed. As a consequence, the implementation of SSOs is regarded as one of the “hot topics” when it comes to leveraging opportunities to cut costs and improve quality within an organization.
Nicole Dreher
Controlling Shared Services (CSS) – Managing Capabilities for the Digital Age
Abstract
WINSTON CHURCHILL may have said it best: “A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty.”
Dominic Stephenson, Roman Becker, Patrick Lange, Thilo Rau, Alexander Riedel
Operational Risk Management as Shared Service Center of Excellence (CoE)
Abstract
Organizations are looking for way to mobilize their knowledge which is often distributed among the many organizational departments and business units. Centers of Excellence (CoE) are focussed on retaining, utilizing and developing knowledge, whereas Shared Services Centers (SSC) are focussed on the efficient service provisioning to many users.
Marijn Janssen, Anton Joha, Jürgen van Grinsven
Future Trends in Finance Shared Services Organisations
Abstract
Shared Services Organisations are viewed as an important driver to improve efficiency and achieve cost-savings for finance and accounting functions. In theory, Shared Services provide a clear set of benefits: Cost reductions, better services and increasing efficiency of resources. Today, more than 90 % of all large multinational Western companies already operate Shared Service Centres (SSCs).
Frank Helbing, Thilo Rau, Alexander Riedel
Shared Services in 2020
Abstract
An in-depth literature review reveals that there is still no generally accepted terminology on the Shared Services concept. Based on the analysis of 17 scientifically substantial definitions of the Shared Service concept and additional expert interviews the Shared Service concept is an internal service delivery option positioned between centralization and outsourcing as the two turning points of the (internal) service delivery continuum.
Kai-Eberhard Lueg, Frank Keuper

Selected Enablers and Prerequisites for a Successful Development of a Shared Services Organization

Frontmatter
A Sustainable Approach to Transition Projects – Change Management
Abstract
Over the last decade, the financial organization of Siemens has changed significantly. Following a classic bundling approach and in order to achieve economies of scale, Siemens entities all over the world started to consolidate highly repeatable, transaction-heavy accounting and finance work to an internal organization, called Global Shared Services (GSS). From these beginnings, GSS has not stopped on its path of transformation and the GSS of today barely resembles the organization of one decade ago.
Vanessa Egli
Service Business Is People Business – Strategic Personnel Management in a Global Shared Services Organization
Abstract
Focusing on the actual core business and transitioning of administrative non-core processes to a Shared Services Organization (SSO) has been a trend in the global business world for a couple of years now. SSO have proven to be a successful way to support the business not only in terms of cost savings through making use of cost competitive locations, but also through process optimization in general or the implementation of new enabling, productivity ensuring technologies.
Susanne Sommerer
Transfer Pricing Requirements Concerning Shared Services
Abstract
Intra-group services are getting more and more important as companies are getting more and more international. Following that, tax authorities are eager to audit these intercompany transactions which can lead to double taxation and fines if the regulations concerning intra-group services are not followed thoroughly.
Arwed Crüger, Andreas Riedl
Transfer Pricing Aspects of Cross-Border Service Provisions
Abstract
“Business goes global – taxes stay local.” This statement conveniently describes the inherent conflict between the economic globalization and the national focus of taxation. Global presence and diversification constitute a prerequisite for multinational enterprises (MNEs) to ensure competitiveness in the present and in future. As a consequence, cross-border transactions between group members and permanent establishments have significantly gained in relevance. International taxation is based on a separate entity approach.
Stefan Stein, Winfried Ruh, Marcus Selg, Martin Trost, Alexander Riedel
Backmatter
Metadata
Title
Finance Bundling and Finance Transformation
Editors
Frank Keuper
Kai-Eberhard Lueg
Copyright Year
2013
Publisher
Springer Fachmedien Wiesbaden
Electronic ISBN
978-3-658-00373-9
Print ISBN
978-3-658-00372-2
DOI
https://doi.org/10.1007/978-3-658-00373-9