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Shared Services

Investments and recurring costs in non value-added activities are constantly growing and exerting continuous pressure on organizations to reduce costs and increase transparency in these services. Shared Services are a key contributor to driving efficiencies and tackling budget pressures.

Businesses throughout the world are constantly facing operational and strategic challenges to improve their service to customers, lower their costs and increase business effectiveness. This has never been so imperative than in the current economic climate.To align their business strategies with this ever changing environment, businesses have to adopt some element of Shared services in its operating model. This approach enables companies to eliminate non value-added activities, automate essential processes, and benefit from standardisation, economies of scale and skill.

Shared Services are more than just centralization or consolidation of similar activities in one location, rather it’s convergence and streamlining of similar functions to ensure effective and efficient service deliveries.

Objective

  • Cost reduction
  • High quality service delivery
  • Operational efficiency
  • Employee Satisfaction

Our range of services

Upstake Technologies Shared Service offerings provides a wide array of outsourcing solutions in Finance & Accounting, Transaction Processing & Enabling Technology services with higher efficiency and service delivery by reengineering processes and implementing the state-of- the art technologies within that particular function.

  • Finance & Accounting services
  • Transaction Processing
  • Technology Enablement
  • XBRL services
  • MIS reporting

Different functions covered in Upstake Technologies Shared Service suite

  • Procure to Pay
  • Order to Cash
  • General Accounting
  • Closing & Reporting
  • Audit reporting

Various Industries served

  • Automotive
  • Insurance
  • Banking and Financial Services
  • Transportation
  • Travel
  • Utilities

Upstake Technologies Shared Services – Our Domain Expertise

  • Document Imaging
  • Document Archiving
  • Workflow Management
  • Approval Management

Shared Services Industry Trends - Business services rather than finance services

Shared services has been the chosen child of finance, but this relationship is changing as shared services is growing up and not limited to Financial operation only. The survey reports clearly depict the latest trends of wide acceptability of shared services in other business functions as well.

As per industry trend:

  • 85% of overall F&A activities can be managed at SSC.
  • 50% of the HRO activities primarily Payroll administration, Employee benefits & compliance Management can be managed at SSC.
  • 40% of purchasing activities can be managed at SSC. This includes PO creation/modification, master data management, new vendor set up & compliance management.

So, invest your capital in profit-making aspects of the business instead of investing it in non value-added activities.

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