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Financial Shared Service Centre Implementation

Business situation

The client company wanted to manage two of its main businesses as a single group. The finance departments of these two businesses, along with two smaller associated businesses, had to be supported by a single shared service operation for managing and producing all financial information.

Project scope

Our client engaged a team of Robert Half Management Resources specialists. They formed the shared service operation out of the separate finance departments and directed the new department until it was established and capable of being directed by a permanent member of staff.

There was an additional requirement to form a separate finance operation for the service businesses that had been demerged. A new company was formed to group all the warehousing and distribution and call centres, which were to be managed separately. This new company had a turnover of £131 million. The additional changes significantly increased complexity.

The key tasks for the team of interim managers were to:

• Set goals and subsidiary objectives.
• Define the service levels the businesses were to expect from the Financial Shared Service Centre.
• Manage the operation on a day to day basis and act as Change Manager ensuring the service level was guaranteed before and after the move.

Industry: Manufacturing

Revenue: £700 million

Client's return on investment

From announcement to completion, the formation phase took 15 months. It was achieved ahead of schedule and within budget with no loss of service.

Operating costs across all finance staff were lower at the end of the 24 months by seven percent but were forecast to be an additional ten percent lower as the new systems settled and staff productivity improved. Service level improved considerably because the shared service centre reorganisation ensured production and reporting were split into distinct areas, so less time overall was dedicated to production and more to added value reporting.

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