Shared Service & Finance

Large companies commonly centralize their functions into a Shared Service Centre (SSC). The SSC is responsible for managing the operations and tasks of each Country that they support. Typically the SSC is set up as a division of the corporate company and they undertake all operational roles from the corporate headquarters.

 

An SSC is often a “cost centre” that works on behalf of the corporate company with set SLA’s, targets and costs for operating the service.

 

There are many types of Shared Service Centre;
- Finance & Accounting (F&A)                         - Human resources (HR)
- Legal                                                              - Compliance
- Purchasing                                                     - Payroll 

What jobs are centralized into an SSC?

Finance & Accounting; Accounts Payable, Accounts Receivable, Order-to-Cash (O2C), Procure-to-Pay (P2P), Record-to-report (R2R), Collections, Credit Analyst, Payroll, General Ledger, Controlling, Accountant, Tax, Treasury & finance management roles. A number of HR Generalist & employee facing HR support roles are supported by a HRSSC. Legal Outsourcing and SSC models have grown in popularity with legal positions supporting contract management, legal processes and procurement.

 

Examples of companies that operate a SSC

Nike, Reebok, Google, Yahoo, IBM, Symantec, Hewlett Packard, Burberry, Astra-Zeneca, Pfizer, MSD, Microsoft, Kimberley Clark, GSK, American Express, Exxon-Mobil & Lukoil. 

 

Who do SSC’s hire?

Financial SSC customers hire candidates that have an interest, education &/or professional work experience in Finance & Accounting. These positions can start from a school leaver or graduate to an experienced professional with 15+ years finance experience. Typically SSC’s are a large organization that can offer training, a good structure and a career path.

 

Are employers interested in professional working in SSC’s?

Candidates that succeed in an SSC can continue to work in an SSC in a similar role or can return to a Corporate or SME where their skills and experience gained in a large company SSC structure will be of benefit to the new employer.

 

Finance

 

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