00:00More and more companies are moving towards shared service.
00:03It used to be something that Fortune 100 companies used to do 20 years ago,
00:08but I'm seeing companies of all sizes move towards offshore transaction processing
00:13or a shared service center.
00:16And the companies who have not done it, they are behind the curve in terms of getting there
00:20because their peers or their counterparts have done it,
00:23and obviously they have a more cost-effective P&L in terms of the headcount.
00:28And, you know, the general image of going offshore and having to a shared service center
00:34is that your quality of work would decrease.
00:37Actually, it improves, especially if you go to a specialized shared service center
00:40like we have at Expertise Accelerated that is focused towards the consumer packaged goods industry
00:45and the manufacturing industry.
00:46So they're actually, because they are doing so many other companies
00:49and they have the trained people, so that actually the quality of work improves and increases.
00:53So in this setup, what happens is that the employees which are onshore
00:57are doing more value-added work.
00:59So I always encourage that there should be some boots on the ground,
01:03some people physically located in the office.
01:05So these people who are located, in combination with the offshore service center,
01:09they are doing critical value-added work.
01:11So it is a win-win.
01:12The cost for the CFO reduces, whereas the team that the CFO has on-site
01:17is now doing more value-added work.
01:19And with the EA, because we bring expertise and the ability to consult and solve problems
01:25to the table, I'm very often providing advice to the CFOs or the accounting teams in general
01:30to how to follow best practice, whether it is in terms of systems or accounting processes.
01:37So these people who are working onshore really develop their knowledge base very quickly
01:41in working with a shared service center like an EA, which specializes in a particular industry.
01:45And it is a win-win.
01:46They get to learn very specialized, high-end work, whereas the shared service center is
01:51managing everything else.
01:52And the learning curve of the employees onshore obviously exponentially increases
01:56in working with this type of shared service center.
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