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Evolving Next Generation Values and Capabilities for Finance Shared Services

As finance shared services centers continue to mature, 90% having been established 5+ years ago, they are faced with how can we continue to strive for excellence and bring in the next level of capabilities and continuously create value now as a mature internal organization? Even with matured shared service centers, there is still a layer of untapped opportunity to increase value (not only within finance functions) and capabilities. Improving governance, end-to-end processes, understanding available options to reduce cost, effectively measuring and increasing accountability as well as improving overall project management strategy for growing responsibilities are what is required for better management of the matured service center. A growing capability Finance Shared Services are realizing now includes now can include providing new business analytics and business intelligence in an accelerated manner. This is a time of many exciting new possibilities in which finance and shared services can be a key business partner, supplying new views of financial data, metrics, and analysis for businesses to cut costs and capitalize on.

Turning 'Theory' into 'Practice'?

This program will combine an overview of the ingredients and methodology required to elevate your mature Financial Shared Services to the next level of value creation and capabilities that can position itself as a competitive advantage for the organization

Who should attend?

Finance Shared Services, Shared Services, Controller, Accounting, Accounts Payable, Accounts Receivable, Order to Cash, Internal Audit, Business Process Outsourcing, BPO, Business Transformation, Process Excellence, Treasury, P2P

 

Key areas to be covered in the programme and documentation

Understanding the State of Maturing Finance Shared Services

         Continue to create value as you mature the function

         Examine the Lifecycle of shared services through infancy, development and maturity

         Understand what is going in Finance Shared Services right now and future trends

         Explore trending and practical opportunities to continuously Improving Shared Services to Finance Beyond Process

         Multifunction, value delivery and service priorities for a maturing shared service function

         Continue to build value and recognition on educating other areas of finance efficiencies still available with continuous partnership

 

Repositioning SSC as a Pivotal Strategic Business Partner Associated with the End-to-End Process

         Identifying roles and responsibilities for a successful partnership of  the end to end process

         Moving SSC to a strategic visionary role that is integrated within strategic business discussions

         Create continuous communication and accountability for all elements of the end to end process

o    Business model

o    Scope of services

o    Use of share services resource of business and service projects

         Define ways to use SSC data to drive strategic insight and partnership to different businesses

         Combine divisional support, business performance and specified functions as a valuable role in the growth of the

         Continue to improve the business beyond the scope of financial shared service

 

Enable Winning Governance Model that Emphasizes a Functioning Partnership 

         Explore the necessary requirements for an effective governance model for both captive and outsourced SSC

         Requirements for multiple layers demanding multiple governance models

         Explore working governance models for diversified regions that include panels and super-panels

 

Successfully Tackling Financial Function Challenges through Corporate Re-Direction of Divestures and M&A Scenarios

         Obtaining successful financial integration from Divestitures and  M&A

         Staying on track to manage the added priorities and projects on top of additional requirements from  Divestitures and  M&A

         Successfully aligning people, processes and technologies for smooth integration

         Maintaining strategic partnership to overcome challenges and call upon decision making

         Collaborating closely with business units and line management to understand core challenges and design solutions

         Incorporate plans to maintain high employee morale and engagement levels during divestures and M&A

 

Effective Project Management to Ensure Sustainability for Added Capabilities and Future Project Portfolios

         Create an effective project management strategy to tackle how to effectively manage the multiple capabilities and value-add that the shared services has taken on

         Ensure sustainability of future project portfolios as well as current portfolios

         Create visible displays of project and stakeholder analysis

         Enable effective change management across the organization

 

Establish a High-Level Feasibility Study for Better Decision making- Analyze of Sourcing Options and Value

         Effectively review  captive vs. outsourcing bids and propositions

         Identify a 10-Step methodology to produce an internal value creation plan to compare against an external value proposition

         Identify what value means to your SSC and organization

         Understand best measurements against value creation

         Reinforce savings, value creation and approaches

 

Managing the Cost Base for Effective Finance Optimization

         Develop an activity-based costing chargeback process drives  cost reduction behaviour by both the client and shared service center

         Evaluate and analyze for various operations across the finance function to determine cost competitiveness

         Establish a process to continuously review internal and external benchmarks for shared service process costs to maintain consistent focus of creating higher quality, lowering costs and driving better service

         Establishing targets in a performance scorecard to achieve optimal benchmark scores

         Establish effective change that improves effectiveness and the working relationships between the client and the shared service center

 

Effective Performance Measurement Framework for Shared Services Efficiency

         Identify the 4 key behavior attributes for success

o    Identify key performance indicators to measure succession in those attributes

o    Develop detailed metrics that measure the success of KPIs

o    Link measurement results vs. targets to performance reviews and compensation

o    Create an integrative,  high-performance work culture that focuses on key activities

         Understand how to lead a conversation with business partners for mutual benefit- hold them accountable, measure accountability, and ensure right compensation for the work

         Evaluate budgets and staffing levels and drive change to ascertain necessary performance levels that inhibit success

         Ensure a balanced scorecard to keep track of key performance measurements

 

Drive Business Intelligence Capabilities for Valuable Actionable Insights beyond SSC

         Increase competitive intelligence derived from SSC Data and Financial Analysis

         Enhance better business decision making from SSC business intelligence capabilities

         Realize business intelligence capabilities  when the organization demands for more timely, accurate and informed decisions

         Do it beyond just the processes the SSC owns

         Create expert strategic advisory services for multiple businesses and functions within organization using valuable SSC business intelligence

Benefits to you

         Reposition SSC as a Pivotal Strategic Business Partner to the Finance Function

         Practice effective Project Management to ensure sustainability for added capabilities and future project portfolios

         Continue to create value as you mature the function

         Enable an appropriate governance model and functioning partnership models to ensure successful execution of value creating initiatives and change

         Successfully Tackling Financial Function Challenges while still bringing value through M&A

         Manage the Cost Base for Effective Finance Optimization

         Establish Effective Measurement Reporting for Quality Control

         Significantly contribute to the organizationís strategic objectives

         Putting process excellence to the context of overall business optimization

         Expand value to key businesses that use the SSC

         Examine best practices to capturing performance including balanced scorecard

         Using a Business case approach to use to determine outsourcing and internal capabilities

         Define ways to use SSC data to drive strategic insight and partnership to different businesses

Companies already benefiting include:

Duration of Course

2 Day Course

Course details

February 27-28, 2013 Chicago, IL

 

For more information about this course and upcoming course dates, please contact Emily Jones at emilyj@marcusevansch.com or call 312.540.3000 ext 6714

Looking to train larger teams in this subject?

 


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Further information

UK Enquiries: +44 (0) 203 002 3057
or dzingim@marcusevansuk.com

Non-UK Enquiries: +420 (0)2 5570 7246
or training@marcusevanscz.com

North American Enquiries: +1 312 540 3000 X6714 or emilyj@marcusevansch.com




Testimonials

"This course will allow my company to develop its existing strategies to a much greater and hopefully profitable level."

Managing Director, Tarmac