Financial Shared Services: The New Normal

On:
Wednesday, October 09, 2013

For global enterprises, operating in a financial shared services environment is the “new normal.”

Fully 75 percent of organizations with annual revenues of more than $1 billion operate in a shared services environment, according to the IOFM’s 2013 AP Benchmarking Study. What’s more, 30.6 percent of organizations with more than 5,000 employees operate in a shared services environment.

In a shared services environment, functions such as accounts payables and accounts receivables are centralized and standardized, and systems are consolidated, so that processes become streamlined, more efficient and less costly to run.

Shared services environments differ from business process outsourcing, whereby processes that were previously carried out internally are handed over to an third party outside the organization. With a shared services approach, a separate group within the company is established to do the work.

Direct Insite equips shared services executives and managers with accessible, performance-driven application solutions that streamline accounts payable and receivable functions and create efficiencies across the financial supply chain.

Featuring an unparalleled track record of success in global shared services operations, Direct Insite’s PAYBOX® platform is leveraged by Global 3000 companies for payables and receivables automation.

Key benefits for shared services executives include:

  • Highly scalable Saas-based platform for financial applications initiatives
  • Better alignment of payables and procurement
  • Easily available self-service access for suppliers and customers
  • Seamless integration with existing financial systems
  • Multi-country and multi-currency support
  • Industry-leading supplier onboarding services to drive e-invoicing adoption

Using Direct Insite’s e-invoicing SaaS solution in a shared services environment optimizes investments in enterprise resource planning (ERP) and other financial systems by extending capabilities, and consolidating data from nearly any system to provide improved visibility and decision-making.

As part of its commitment to financial shared services, Direct Insite is pleased to be a part of the 18th Annual North American Shared Services & Outsourcing Week in Orlando, Florida, March 12-14. As a key sponsor of the event, all Direct Insite prospects, customers and business partners are entitled to receive an exclusive 20 percent discount. Simply e-mail events@ssonetwork.com and reference Direct Insite.

To learn more about Direct Insite’s shared services solutions, e-mail sales@directinsite.com.

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