Shared Services: From Ideation to Evaluation
Shared services have gained in popularity within the past few decades for a reason: economies of scale dictate that in a global marketplace, back-office synergies can be gained in-house and across borders and continents. MAPI is rolling out its inaugural one-day Shared Services Forum (June 8 near O’Hare Airport in Chicago) to highlight the rationale of setting up shared service centers. It will focus on lessons learned and best practices in the field.
A case study on a rollout strategy will tackle considerations and drivers behind Littelfuse's global shared services operations. Why was a center conceived in the first place? How was the plan implemented? The presentation will also cover the company's future plans for the operation.
The discussion will move to measuring and evaluating performance. Another case study will plunge into ESCO's methodology for deploying financial shared services on three continents in 18 months. An executive will walk through measuring and evaluating performance during startup, go-live, and continuing operations. He will share which KPIs have been most relevant in maintaining process control, reducing risk, and driving process improvements.
Other presentations will cover the scope and analysis of basing financial activities in a shared service center vs. a business unit, IT requirements and tools, protecting data, and employee retention.
The forum augurs to be an informative source of useful information for mid-level executives in finance functions at manufacturing companies and an excellent peer networking opportunity.