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Choosing Shared Services? Here’s Your Five-Point Cheat Sheet

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A business would be better if everything is kept simple. When operational costs start to grow but the productivity rate remains low, it’s time to think of strategies that would give the organization a vibrant metamorphosis.

Shared services model is the answer to that dilemma. It is a business model where the resources of a business are pooled together into a single unit. Here, the chargeback is not centrally divided but is computed based on the actual services used. It is a cost-efficient mechanism of doing business, eliminating the risks of wasting resources.

Shared Services Model – Cheat Sheet

1. Goal – What is the goal of the business in trying alternative ways of doing business? Is it solely based on cost-saving? Perhaps you want to improve the working conditions or to better the services? Whatever the reason, the goal to implement a shared service unit should always be results-driven. Analysis is the key to finding out if this kind of model would benefit all the players.

2. Team Decision – The decision to implement a shared service center is not shouldered by the higher-ups alone. The whole team should be involved in the decision-making, as everyone will be affected by any drastic business shift. This way, all sides will be considered, especially the ones who will need to adjust to accommodate the changes.

3. Time Frame – Time is crucial when implementing new projects. As far as shared services is concerned, a feasibility study should always be considered. This includes discussions on transitioning, training, and procurement of necessary resources. After all, for a shared service center to succeed, all things should run in unison.

4. Target Discussion – When the rudimentary procedures are settled, it’s time to explain the target to the team. This includes discussions on the output, the best practices, various approaches to take when handling the task, grievance procedure, and the goal of the organization. The involvement of each team member is important, as they’re the ones to decide as to what is essential and what is counterproductive.

5. Performance Monitoring – It is crucial to monitor the team right from the start of the operation. This is to gauge the capacity of each member to handle important tasks, avoiding any hindrances that would defeat the purpose of the shared service center. Leadership and delegation of tasks are improved in this setup, but it is necessary to consistently check if the management of the team is indeed efficient.

A shared service model is an advantage if you have a feasible strategy in place. Whether you’re a start-up or established corporation, consider this option if you want to maximize productivity and streamline operations.

Elsewhere on this blog:

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Choosing Your Business Model: Shared Services Over Centralization

Build Stronger Teams on an Infrastructure of Shared Services

Shared Services Model – It Could Be Your Best Business Solution Yet

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In unity there is strength, as best described in the shared services model; it’s a business strategy where some resources of an organization are combined to cut costs and remove redundant operations. Processes are standardized and resources are optimized, effectively combining the best practices of different teams and strengthening the organization in the long run.

Cost-Cutting

With resources focused on just a single unit, operational costs would greatly decrease. In a normal setup, each department has its own intangible and tangible assets, even repetitive operations, while the shared services model pool valuable resources together to remove menial tasks. Consequently, downtime is lessened and operational costs are reduced.

Efficient and Professional

Reduced downtime enables workers to focus on their tasks. With dedication to only accomplish valuable services, the workers’ training and skills are improved. This promotes the professionalization of their work, making them able to deliver efficient service.

Improved and Standardized Service

A task-driven team is also customer-focused. Once cultivated into a work culture, clients and the business receive services from just a single structure and from a standardized process. There would be no complicated administrative procedures to take, just a streamlined mechanism to quickly and wisely extend services.

Flexible and Focused

There’s the misconception the shared services model is complicated, considering various tasks are juggled by just a single unit. The uncertainty that comes with this is normal, as a shift in business model is coupled with inevitable changes. However, this is resolved as soon as the shared service center is in operation, once the staff knows how to prioritize between processes. Thus, they can control the work flow by managing tasks, as well as strategize procedures based on the business’ and the customers’ needs. With such flexibility, the focus and quality of service is improved.

Indeed, the shared services model is not just a practical means to do business. It is a wise move to improve the overall operations of an organization, all while maintaining a professional workforce and providing optimum service.

Elsewhere on this blog:

Choosing Your Business Model: Shared Services Over Centralization

Expanding Your Business Reach: Multilingual Contact Centers

Four Outsourcing Challenges Your Business Needs to Hurdle

Three Odd, Specialized Tasks You Should Outsource

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Businesses delegate tasks for minimum cost and maximum efficiency, the primary reasons why outsourcing is so appealing. Companies often outsource so they can concentrate on big picture management. If you’re considering third-party services, it’s important the provider leases skilled, experienced. and specialized staff.

However, you might not be aware of unlikely processes you can also outsource, sparing you time and money. This includes podcast production and email management, anything you’d rather not do and willing to pay for. Here are three other tasks you can delegate to outsourced staff:

1. Logistics, Planning, Appointments, and Reservations

Isn’t it great if you didn’t have to worry about the day’s mundane routines? Businesses have the same needs; the service is similar to hiring a personal assistant, but the scope is wider, covering important operations and processes. You can also delegate what can be considered errands. If you’re managing the personal affairs of a team or department, you’ll need help handling the task that pile up.

It’s best if you outsource these tasks to virtual assistants: dinner reservations, spa appointments, car rentals, parcel tracking, even social media posting. These seemingly trivial tasks are real-world concerns of businesses and corporations, and entire teams are leased and hired to to handle the upkeep.

2. Calls Management, Inbound and Outbound

Unlike virtual assistants who juggle a wide variety of tasks, virtual receptionists are dedicated to call management. Instead of answering calls on your own, you can choose trained and experienced representatives to filter the flow. As authentic and professional fronts to your business, virtual receptionists will also screen your calls, sparing you time and trouble.

There are plenty of tools you can use online, with receptions always on standby to take over your load. If your needs are so involved you’ll need a team of receptionists in rotating shifts, then staff leasing is your efficient, feasible alternative.

3. Research and Documentation

These can involve something as simple as a background check, to a comprehensive survey of target market trends. Either way, you can do away with the legwork. Outsource this to skilled researchers with background on statistics or library science. Even if you’re only composing a blog post with detailed data, researchers ensure the facts and numbers are straight.

You can hire individuals or teams, depending on the bulk of the work to accomplish. If you’re pressed for time, then you can spend it rehearsing your presentation, instead of fumbling with the source material.

There’s always someone willing to take on the task. With outsourcing, costs are surprisingly feasible, and people bid with high-quality work and shortest turnaround times. Whether you’re a start-up or established business, outsourcing the small task ensures you’re focused on management and operations, everything that keep the gears of the company grinding.

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Essentials of Contact Center Management: Call Handling

Spotting the Right PEO for Your Business: Efficient Offshore Staff Leasing

Staff Leasing 101: Is Cheaper Better?

Business Metrics: What Surveys Can Do For Your Business

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While it is often overlooked and its relevance not emphasized, surveys are important in all endeavors. It’s the key to answering specific questions needed in an organization. However, the process isn’t as simple as it seems. Every question is drafted to cover a diverse range of topics; when answered, this provides companies answers and solutions. At the very least, companies have better grasp of its next strategies.

In business, surveys help collect valuable data used to better understand the market. These include consumers, competitor, and market trends. The data helps business owners, potential investors see the organization from a different standpoint. Surveys are conducted to answer questions and obtain data, used to improve processes and systems in the organization.

Every survey process has three phases:

1. Formulate relevant questions that answer most or all of the company’s questions.
2. Extract the raw data, translate, organize, present.
3. Identify positive and negative results, strong and weak points; suggest courses of action.

Surveys are vital to an organization’s success. The data points you in the right direction, also helps you prepare for unforeseeable problems or challenges you may encounter. Projections are insightful in new, various ways. Once data is interpreted properly, you have enough to use on customer outreach: engagement, monitoring, and follow-ups.

Here are some points to address:

– What’s the running pulse of your customers, your market?
– What can you do to improve communication, increase positive feedback?
– How can you improve customer experience?

Surveys glean information by collecting data from a representative sample of your market. This requires extensive preparation, execution, evaluation. Most companies outsource this service to specialists, which is often the most feasible option. Your company could be doing great, plateaued, or at a crossroads, all these ideal scenarios to conduct surveys on your market. However, it’s important your surveyor is skilled and experienced in processes, able to draft the right set of questions, choose the best sample, apply the appropriate treatment, and interpret the data.

Companies in tune with their markets are able to beat the competition. Finally, there’s one compelling reason why you should seriously conduct surveys: your best competitors are doing it. Keep the competition at bay, find practical ways to get ahead, and roll with improvements.

Elsewhere on this blog:

Boost Your Business Without Going Bust – 4 Scaling Tips for Startups

Competitive Advantages of Offshore Staff Leasing

Business 101: How to Widen Customer Network Using Social Media

Choosing Your Business Model: Shared Services Over Centralization

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Regardless of industry, specialty, or region, business owners know there is always room for improvement within the company. In the fast-paced and highly-competitive markets of today, businesses have to adapt to the surges of demand and supply, adopt the proper business model that propels the company forward.

There’s a variety of possible models to adopt, but two common and popular models stand out above the rest. Your business needs to know: how is shared services model better than centralization?

Shared Service In A Nutshell

In a shared services model, processes are coordinated between independent units and a supervising entity. This relationship is dynamic, with each unit accountable to its own output and efficiency. There’s focus on service excellence, cost-efficiency, performance, and continuous improvement. Customers are treated as customers, with emphasis on service and feedback.

Centralization, Streamlining And Efficiency

Centralization dedicates leadership to an oversight party or headquarters. Consequently, this model benefits the company more than the end user (customer). Usual focus is on operations and management, instead of customer service. Centralization is a traditional business model, and it’s proven advantageous if the goal is to run the company like a well-oiled machine.

The Advantage Of Shared Services Model

To put it simply, shared services offers the business the chance to maximize a dedicated and expert team of specialists to handle a specific operation/project, at a cost-effective price. Meanwhile, centralization is the integration of services to one location, with a clear designation of decision-making to the higher ups of the management. While both models offer a range of benefits, they also have their own unique advantages to offer.

In the shared services model, businesses can expect a strong emphasis on the quality of performance/output from the provider. In centralization, a standard procedure must be strictly followed. The whole structure of the team under the shared services model also make for a way that leaders have a shared responsibility and accountability to deliver the efficient and effective functions required of them.

In contrast, the decisions in the centralized model are made for the benefit of the company rather than the customers. Because the shared services model offers a more flexible and service-oriented approach to accomplish a task/function, the advantage is evident in excellent results and feedback.

Searching for effective solutions to outsourcing? Consider shared services and staff leasing!

Elsewhere on this blog:

Hiring Your First Offshore Employee – Outsourcing Tips for Beginners

What is Offshore Staff Leasing?

3 Ways to Improve Staff Leasing for Your Business