Building a Financial Shared Services Center Learning Academy. Part 4 of 4: Shared Services vs. Outsourcing The Right Approach for your Company
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1 Building a Financial Shared Services Center Learning Academy Part 4 of 4: Shared Services vs. Outsourcing The Right Approach for your Company
2 Housekeeping Details Listen-only mode teleconference Questions Question function in GoTo Meeting Conference dial in # Please use the confirmation number provided Trouble joining? - info.us@basware.com - Call: /7911
3 Agenda Shared Services vs. Outsourcing The Right Approach for your Company Dan Parnas, P2P Consultant, Epiphany Supply Chain Solutions Basware Overview Bob Cohen, Vice President, Basware Q&A
4 Shared Services 401: Shared Servics vs. Outsourcing The Right Approach for Your Company Dan Parnas, Vice President Epiphany Supply Chain Solutions 5 is your business ready for an epiphany?
5 About The Presenter Dan Parnas P2P Consultant for Epiphany Supply Chain Solutions 13 years at Charles Schwab & Co., Inc., most recently as Director, Purchase to Pay In 2003, created one of the first true Purchase to Pay Operations, merging the existing AP & Procurement departments During my time at Schwab, was responsible for automation initiatives including: IVR, Workflow, Imaging, Concur T&E, Ariba eprocurement, Xign/JP Morgan Chase ACH and einvoicing, Citibank P-Card & Excel voucher uploads to PeopleSoft 6 years spent with Gap Inc., Lucas Digital Industrial Light & Magic, and Nextel Communications with primary Accounts Payable focus Graduate of UC Santa Barbara, 1989, Business Economics 5 is your business ready for an epiphany?
6 5 is your business ready for an epiphany? 6 is your business ready for an epiphany? Does your organization suffer from uncontrolled spending and inefficient Source-to-Pay processes? Let Epiphany show you how to start saving money today and improving your operational performance. STRATEGIC STRATEGIC SOURCING SOURCING Do you lack sufficient resources in sourcing or procurement? Pull from Epiphany s bench of ondemand professionals to deliver timely, practical and comprehensive solutions. Are you looking to analyze your total spending, prioritize savings opportunities, and create lasting financial benefit for your organization? If so, your business is ready for an Epiphany! Strategic Sourcing Negotiate the right contracts with the right suppliers Spend Analysis Gain spend visibility and a strategic approach to savings Source-to-Pay Advisory Expert advice on supply chain, purchasing and AP challenges Recovery Audit Services Recover overpayments and strengthen spending controls
7 Can mean different things to different people Most often refers to where a company with multiple business entities: Centralizes common services, such as Finance & Accounting in a common location Often where the company already has an established presence Commonly located in low cost geographical areas with highly educated/large labor pool Midwest (Omaha, Denver), Southwest (Phoenix), North Dakota (Microsoft) Does not necessarily mean each tower (F&A, HR, etc.) is in the same location For global companies like Apple, SSC regionally across the globe Ireland for Europe, Singapore for Asia, etc.. Provides those services for all business entities Gartner s Implementing Finance Shared Services: Benefits and Best Practices shows how Shared Services delivers substantial benefits. The study suggests that costs can be reduced by up to 35% while delivering higher-value services, improving governance and reducing audit and compliance costs. 5 is your business ready for an epiphany?
8 Outsourcing involves transferring functions to a 3 rd party Could be to a domestic location or near shore or off shore near shore typically refers to South/Central America Offshoring means moving the functions to another location offshore from the original location Typically refers to a location in the Eastern Hemisphere Could mean outsourcing offshore, but it can also mean moving the function to an offshore location that is still managed by employees of same company This is generally called a captive offshore shared service center Hybrid approach Selective outsourcing of low risk/transactional tasks, while retaining shared services for high risk/analytical functions Some Tier 1 providers are now offering/partnering technology solutions with the labor outsourcing For large firms that have not invested in technology automation, due to the scalability, this may be an attractive option 5 is your business ready for an epiphany?
9 Does BPO make sense for shared services? outsourcing facts Plug & Play solutions do not really exist Firms lift & shift your operation Continue to perform the work the same way you are doing it today, using your technology remotely Your staff is expected to: Train the people that are replacing them Document procedures Once you outsource the work in this way, continuous process improvement is extremely difficult Majority of time is now spent trying to manage to service levels Only tier one suppliers have even basic capabilities for process transformation services (Accenture, IBM, Cap Gemini) but are significantly more expensive No India based suppliers are tier one for finance & accounting If you don t include an output in an SLA in such a way that is measurable and that the service provider is held accountable, it is unlikely it will happen properly Scale of opportunity is a key consideration small operations (less than 100 FTEs) are given lower priority/lesser resources 5 is your business ready for an epiphany?
10 Mess for Less You get what you pay for Turnover Experience vs. highly educated So many hidden costs/increase in risks that erode projected savings Identifying and assessing the risks and risk mitigations is key Lost intellectual capital Erosion of quality levels Erosion of service levels Lost opportunity for innovation Ability to ensure compliance with negotiated rates/deals Very difficult to measure, but can amount to millions in lost savings 5 is your business ready for an epiphany?
11 Virtually all of the savings from BPO involves labor arbitrage of repetitive transactional work However, when you automate the repetitive transactional processes with the use of technology instead of outsourcing the labor: You can maintain focus on improving processes Retain/strengthen internal controls Retain key staff/intellectual capital Gain access to new/innovative technology features that can deliver substantial savings: Greater working capital management - Dynamic early pay discounts Improved supplier relationships Spend visibility Strategic sourcing reverse auctions Spend compliance Today s marketplace offers numerous robust choices for the consumer that allows retention of control and minimized risk Most common P2P technology solutions: einvoicing T&E eprocurement Imaging/Workflow P-Card 5 is your business ready for an epiphany?
12 What are your pain points? Stronger controls? Reduce expenses? Better service? If seriously considering outsourcing must have: Managed base case Experienced/competent facilitator Clear/consistent strategy what are we trying to achieve? What would be a definition of success? Regular open/honest feedback/communication between Sr. sponsors and project team members 5 is your business ready for an epiphany?
13 Do your homework there is more hype than reality out there Not one size fits all depends on what level of maturity your shared services/p2p Risk should be a primary consideration from day 1 Technology/Automation Take a good look at technology solutions/automation as an alternative to outsourcing 5 is your business ready for an epiphany?
14 Contact Information phone # Strategic Sourcing Negotiate the right contracts with the right suppliers Spend Analysis Gain spend visibility and a strategic approach to savings Source-to-Pay Advisory Expert advice on supply chain, purchasing and AP challenges Recovery Audit Services Recover overpayments and strengthen spending controls 5 is your business ready for an epiphany?
15 A Basware Presentation Basware Overview Purchase to Pay Solutions Delivering the financial agility you need to run your business more effectively. Bob Cohen Vice President Basware, Inc.
16 The Basware DNA
17 Who We Are Corporate Performance Net sales $150mm in employees Partners in 30+ countries >1m users in 1,700 customers History Founded 1985 Consistently Ranked #1/ # 2 by analysts in P2P 11 offices around the world Our Open Network > 550,000 active buyers/ suppliers >20+ e-invoices/pos in 2011 $175+Billion annual spend 130+ partners 50 invoice formats supported
18 Cross industry references Global Leader Banking / Finance Retail Manufacturing Food / Beverage Transportation / Logistics Energy Professional Services Medical / Pharma / Biotech Public Sector Construction Services Chemicals
19 Select North American Customers
20 Analyst & SME Review March 2011 The Forrester Wave : eprocurement Solutions, Q Evaluation criteria: Current offering Strategy Market presence
21 Our Solution
22 Basware Purchase-to-Pay & Connectivity Services Suppliers Basware Connectivity Catalogs Procurement Purchase Message Exchange Supplier Activation Services Scan and Capture Service E-invoice Exchange Invoice Automation Sourcing Contract Management Requisition Creation Requisition Approval Order Goods Receipt Data Capture e-invoicing Rule Based Matching Invoice Processing Travel Management Expense Management Archiving Mobility Customer Legacy Systems e.g. Financial Systems, ERP Basware Professional Services
23 Basware Connectivity Services - 100% e-invoicing Licensed Model / SAAS / Service Cloud some want to own, others outsource or simply obtain access to service Suppliers Connectivity Services Buyers Sending out 100% as e- invoices from day one Receiving 100% as e-invoices from day one ERP Supplier Portal Virtual Printer Integration Scan & Capture Printing Supplier Activation Content Validation Monitoring / Reporting Transaction Routing Format Conversations Digital Signatures BW ERP ERP Straight through processing >90% invoices totally automated... Open Network
24 Why Companies Choose Basware Visibility Control Compliance Agility 100% visibility of spend Full PO coverage T&E behaviour profiles 360 view of P2P operations Accurate cash forecasting 360 view of supplier Visibility of contract terms Payment term performance 100% e-invoicing from Day 1 Intelligent Invoice Matching More spend managed Accelerated cost savings. Managed Demand Cash Flow Accuracy Faster period closing Controlled Travel & Expense Reduced costs of AP/P2P Straight through processing Federated P2P Intelligent workflows End-to-End P2P platform Payment strategy execution Regulatory /VAT compliance anyerp integration Accurate working capital Supplier discount capture Cash flow & currency forecasting Open, interoperable global trading network Global Scan & Capture Dedicated Supplier Activation Flexible organizational modelling Hybrid Deployment options
25 Basware - Designed for FSSC use Multi-company support Business rules and processes defined per company Accounting fields specified by companies. Multiple currency support Accounting currencies for different companies in same database User roles by companies. Multi-language support Available in 15 languages including: Danish, Dutch, English, Finnish, French, German, Italian, Norwegian, Portuguese, Spanish, Swedish, Russian, plus Unicode support for additional languages including Asian languages New languages can be delivered rapidly Multi-ERP support Basware supports use of multiple ERP platforms/environments for single Basware solution Multi-ERPs or Multiple Instances of an ERP Largest customer has over 20 different ERP systems Facilitating & supporting FSSC roll out Provides centralized control over Purchasing and A/P process Creates buy-in at BU s because of easy of use and providing more information to the end-users (personal invoice archive, viewing from within ERP, audit trail) Can be configured tightly or more flexible access depending on BU s organisational style or working methods
26 Upcoming Learning Academies and Webinars Register here: Basware Live July 19 Travel and Expense Management Solution Demonstration
27 Q & A
28 Thank You! Bob Cohen Vice President Basware Dan Parnas P2P Consultant Epiphany Supply Chain Solutions
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