Benefits of Shared Value Services for Your Business.
Tips for implementing Shared Value Services:-
In our last couple of posts, we dealt with the definition of a Shared Services Model, and how it is a useful tool for businesses to use to improve efficiency and cut out waste. But you might be wondering whether these models also have any further benefits- and you’d be right! In fact, Shared Services Centers offer a whole host of advantages to companies, making them the smart choice for those who want to excel above the competition. From helping staff be clear on their key roles, to making it easier to decide on the best way forward to drive growth, shared services models are the key to unlocking your company’s full potential. In this article, we will take you through those benefits, to demonstrate just why Shared Value Services could be the business solution you’ve been looking for.
Here is the list of advantage of implementing Shared Value Services:-
A Fully Coordinated Organisation:
It’s a fact that businesses perform better when staff knows exactly what it is that they are meant to be doing. When your company isn’t split up into more manageable chunks, then not only it becomes difficult for managers to coordinate the business, but also employees are not aware of what it is that they are supposed to focus their efforts on. By implementing a Shared Value Services model, your whole organization will instead be divided into smaller teams, each with a clear role to play.
Resources and technology are pooled between those who need it, this approach is a much more efficient business model than simply hoping that work will find its own way to the relevant department. When departments need to collaborate to complete a project, it’s also much clearer as to who they need to work with, cutting down on wasting time, and getting things sorted sooner. Tips for implementing shared services
It also makes it easier to standardize processes across your whole organization, meaning not only are you operating to maximum efficiency, but customers also receive the same high-quality experience, whichever department they deal with. This also makes training your staff much easier, too. Since they are all expected to work and act in the same way when dealing with customers, you won’t need to find a separate training course for each department. Instead, they can all go through the same training schemes, which will save your company both time and money.
Make The Most of Your Staff’s Talents:
We’ve all heard the phrase “jack of all trades, master of none”, and that’s certainly true in the business world. There’s a reason why successful businesses will hire a specialist for one particular task, or outsource that task to a professional. Someone who focuses their skills on one key area will be able to do a much better job of it than someone who is also trying to juggle multiple tasks that have little to do with each other. In a Shared Services Centre, there is a definite culture of collaboration, where people are able to pool their skills to complete a project successfully. With the expertise and mindset to optimize your business model, and the skills to turn that model into a reality, shared services lets you get the most out of your staff, and group departments together based on how much they complement each other.
Freeing Up Time and Resources:
It simply doesn’t make sense to ask your corporate staff to take care of tasks that really should be handled by operational staff. However, it’s surprising how many companies do just that, wasting corporate time with red-tape tasks and distracting them from the important business of making sales and building up profits. By thinking about the way your organization is structured, you will be able to ensure that everyone is doing what they are supposed to do and keep your entire company pulling together in the right direction. The amount of time and resources which can be saved in this way is astonishing, and will likely result in a significant boost to your sales figures as a result.
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One of the areas where Shared Value Services Centres really excel is analytics. Instead of having an information overload, and never making the most of the data available to you, shared services make it much easier to break that data down into manageable, actionable chunks. Each unit will know what it is that they are focusing on, and can then take those analytics and turn them into a real plan for the future. Managers can focus their attention on their departments, whereas executives can get a clear picture of just how the organization as a whole is doing, instead of having to wade their way through a wealth of irrelevant data.
Shared Value Services originate via numerous different delivery channels or geographic locations, they allow for a huge amount of flexibility. Whether you are using them to back up your main base of operations or to expand into a whole new market on the other side of the world. Shared Services Centres are a great way of giving your organization a little extra oomph. They also help to foster a culture of collaboration. Here one department might not be able to tackle a project completely on its own but at least they will know who to reach out to in order to get the job done.
Shared Value Services Centres help your business adapt to any opportunities that might come your way- so they are an excellent way for any company to stay one step ahead of the competition.