In a bustling shared services centre, staff juggle countless invoices, purchase orders, and financial reports. It’s a scene familiar to many organizations, but hidden beneath the surface lies a treasure trove of untapped potential – waiting to be unearthed by process and productivity intelligence.
The Quest for Value
Imagine a team of data explorers, armed with analytics tools, embarking on a mission to uncover where more business value could be generated. Empowered by productivity intelligence to discover those hidden opportunities finance shared services can transform themselves into strategic partners to the business. This data-driven approach not only streamlines their own operations but also fuels the prosperity of the entire organization.
The Quest for Efficiency
The team of explorers have business efficiency in their sights. Productivity intelligence allows them to analyse the digital footprints left behind by everyday activities. Accordingly, these explorers can create a complete map of how work gets done – revealing hidden bottlenecks, inefficiencies, and opportunities for improvement. Armed with such detailed actionable insights, finance shared services decision-makers can ensure that financial operations run like a well-oiled machine.
The Procure-to-Pay Expedition
Our explorers first venture into the realm of procure-to-pay (P2P), where they encounter a winding path filled with approvals, and checks and balances. They discover that some paths are well-trodden, while others lead to dead ends or long delays. With the help of process intelligence, they can clear the paths by removing the obstacles, automating repetitive tasks, and ensuring that every purchase order reaches its destination swiftly and smoothly.
The Record-to-Report Odyssey
Next, our intrepid team sets sail on the record-to-report (R2R) odyssey. Here, they navigate a vast sea of financial data, encountering islands of inconsistency and reefs of error. By charting the currents of information flow, they can harmonize disparate processes, automate data collection, and ensure that financial reports are accurate and timely – like a lighthouse guiding ships safely to shore.
The Rewards of Discovery
Through their explorations, our heroes uncover a wealth of benefits:
- Value: With advantages such as better cash flow, revenue assurance and risk reduction, the business’ bottom line and operational efficiency are improved. Strategic decision-making can be based on data leading to company achieving a better competitive position and building a foundation for long-term growth and success.
- Efficiency: Processes are streamlined, more tasks are automated, and employees are empowered to focus on higher-value activities.
- Cost Savings: Bottlenecks are eliminated, errors are reduced, and better decisions are made, leading to significant cost reductions.
- Accuracy: Data quality is improved, financial reports are more reliable, and compliance risks are minimized.
- Agility: Organizations can adapt more quickly to change, seize new opportunities, and stay ahead of the competition.
The Shared Services Transformation
Productivity intelligence empowers shared services organizations to become more value generating, efficient, effective, and agile. By embracing this technology, they can unlock their full potential and deliver exceptional value to their stakeholders.
Are you ready to embark on your own productivity intelligence adventure? Book a demo with KYP.ai here.
KYP.ai 
Sarah Burnett