Global Finance Shared Service Design and Implementation for a Manufacturer
A leading manufacturer partnered with ScottMadden to execute a comprehensive shared services design and iImplementation project, consolidating key finance functions including accounts payable, payroll, credit management, accounts receivable, collections, and deduction management into a centralized shared services center.
Challenge
ScottMadden was engaged by a leading door manufacturer for a shared services design and implementation consulting project to redesign their financial center. Functions included accounts payable, payroll, credit management, accounts receivable, collections, and deduction management.
Process
- Conducted a current state assessment of each function, including processes, organization structure, roles and responsibilities, and technologies used
- Facilitated a future state workshop with senior leadership team to determine operating model and identified initiatives required for implementation
- Developed detailed implementation plan for the initiatives: organization, process, technology, facilities, and communication
- Managed the implementation and led the design of the organization, call center, and new processes
- Facilitated training, testing, and go-live for the center
Result
- Expected realization of more than $15 million in annual savings
- Increased efficiency of all in-scope shared services processes
- Increased responsiveness of the service organization to customer needs
- Potential to incorporate additional functions into the shared services center
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