1539Finance and Accountancy Briefings

Finance and Accountancy Briefing

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Intelligent data capture: Driving efficiency within finance shared services centres

Overview

Shared Services Centres are created to optimise corporate support functions such as Finance and Human Resources by pooling the resources assigned to these activities and harmonising their practices. Shared Services Centres, whether single or multi-functional, primarily take over the company's Finance functions before HR and IT functions.


The accounts payable process is the main Finance function handled by SSCs and its optimisation meets the following critical challenges: improvement of the supplier relationship, greater visibility of expenditure, reduction in lead times and the cost of invoice processing, reduction of penalties due to late payments, etc.


This whitepaper, based particularly on interviews from Schneider Electric and Lafarge Finance SSC managers, sets out the major issues facing Finance SSC managers, before addressing the accounts payable process and supplier invoices processing. It places the benefits provided by Intelligent Data Capture with respect to accounts payable issues.


 

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