Unlocking the Digital Potential of Shared Services Centers
Most companies around the world are focusing on significantly improving cost and process efficiencies. The goal is usually to streamline core processes and internal support functions to effectively manage workload and reduce costs especially on repetitive, high volume, transactional processes that are highly people intensive. This is where most companies adopt the Shared Service approach, a perfectly natural step which involves centralized services shared among business units to reduce redundancy, improve consistency, increase productivity, and bring down costs. Yet despite these benefits, there are some challenges and inherent problems and that is why we are witnessing a focused shift from People intensive Shared Services model to Technology intensive shared services. There is vast array of emerging technology options available for companies to adopt such as RPA and Intelligent Automation, Artificial Intelligence (AI), Machine Learning (ML), conversational AI, among others.
Units of Traditional Shared Services
Challenges for Shared Services Centers
Though the traditional Shared Service approach and solutions offer several benefits for enterprises looking to improve and bring better efficiencies into their core processes such as finance, document processing, accounting, invoicing and HR services, they also come with increased levels of complexity. Moreover, many companies are reluctant to adopt a shared service model when they factor in the initial investments required, the dramatic realignment of day-to-day operations and the changing priorities from hyper focus on cost reduction in the initial stages to value creation during the growth stage. A coordinated effort to consolidate disparate services broken up among business units becomes even more difficult when the repetitive, high volume processes are still highly people-intensive.
Harnessing the Emerging Technologies
The advent of emerging exponential technologies, such as Robotic Process Automation (RPA), Analytics, AI, blockchain and others are transforming and reshaping the shared services landscape across the globe. Several companies have started embracing these technologies because of the benefits that come with its deployment, such as improved productivity, better accuracy and compliance, high Return on Investment, Reduced operational costs, scalability, among others. Digital workforce comprising of virtual bots can mimic human actions and tasks, significantly increasing the efficiency of processes, also freeing the workforce for more value-added strategic, creative, and innovative initiatives. Coupling these key technologies with an efficient and structured shared service environment creates great opportunities for businesses to multiply the potential benefits, bringing quantum leaps to the sector.
What We Do
10xDS have been helping several organizations to combat the challenges faced in their Shared Service Centres, leveraging our experience and expertise in exponential technologies such as Intelligent Automation (IA), Robotic Process Automation (RPA), Artificial Intelligence (AI), Advanced Analytics, Machine Learning (ML) and others. From reducing manual workloads, improving turn-around time for repetitive data management tasks, and lowering operational costs, we have delivered solutions to streamline and simplify Shared Service processes, and also equipping the management with autonomous decision-making capabilities. We believe that harnessing a blend of automation, analytics, AI, and the emerging exponential technologies should be a strategic priority for the Shared Services CXOs and leaders across the globe. This can help enterprises enable continuous improvement in most Shared Services functions.
RPA COE in Payments Industry
10xDS establishes RPA COE streamlining SSC processes across functions like operations, remittance, compliance, KYC, accounting and finance, cards, bill payments, and more, with well documented SOPs along with optimal mix of people and technology. The solution enables an ecosystem for seamless handshakes between humans and bots through custom developed platform to enhance automation capability.
RPA COE in Immigration Industry
10xDS establishes RPA COE to help strategically deploy human resources and maximize ROI. The solution helps gain more visibility into the key numbers and indicators, streamlining budgeting, sales planning to improve sales performance and forecasting revenue. RPA COE enables reduction in the rate of errors and increased accuracy of operations, helping in effective management of sensitive data.
Automation of Payroll, Invoicing and Compliance Process
10xDS develops automation solution for prioritized processes and establishes COE for Payroll, Invoicing and Compliance Process. The solution reduces the AHT for invoice submissions, improving the net time to collections. The solution also reduces the AHT for collation of master payroll data. It also enables significant enhancement in capacity creation.
Our Success Stories
10xDS helped a major Currency Exchange company in enabling Augmented Shared Services Center and setting up RPA CoE
Operational Excellence and Digital Transformation helped a major currency exchange company move up the value chain