Multi-divisional and multi-locational companies often have a decentralized finance and accounting (F&A) function. Keeping the function close to the business does have its advantages in that it can be agile and responsive in supporting decision making. However, a decentralized function comes with certain disadvantages. Corporate or regional headquarters need to manage the dispersed teams remotely, making it hard to coordinate activities and timetables, hire, train, motivate, and retain staff, ensure uniform interpretation and implementation of policies and processes. For companies with a multi-national footprint, the matter is compounded by time zone, language, and cultural differences.
There are also structural limitations in a decentralized model. Teams cannot be scaled up or down in response to growth or de-growth, resourcing is sub-optimal, work is often highly person dependent and it is hard to deploy technology to bring efficiency.
This gives rise to an opportunity to create a structure that leverages the benefits of having a lean F&A team close to the business to support decision making and a shared services set-up that handles the large volume, rule-based, process driven aspects of F&A.
SKP has a robust methodology that systematically assesses all processes and sub-processes in the context of your business and its specific needs to determine what needs to be close to the business and what can be consolidated into a shared services center. Once the design blueprint is approved, we build, transition, and manage the shared services operations. Critical mass enables us to leverage processes and technology, and optimize resource utilization, delivering improved service levels at lower cost. In fact, our ability to handle transactions in languages other than English enables us to give you a truly global shared services set-up.
You can choose the engagement model that suits your needs.