Credit and collections groups are increasingly looking at establishing a shared service center (SSC) or center of excellence as a way to reduce costs and improve efficiencies. But what are the keys to establishing a successful one, and what are the obstacles to achieving that success? View FIS’ slideshow for answers to these and other questions compiled from out market study, Driving Process Improvements, Technology, Collaboration and Value Across Your Shared Service Center.

1. Transform Your
Credit and Collections
Driving Process Improvements,
Technology, Collaboration and
Value Across Your Shared
Service Center

2. 2
Visibility into cash and risk
Automation and workflow technology
Collaboration and communication
The success of a finance and accounting
shared service center (SSC) or a center of
excellence depends on:

3. Why do companies set up shared service centers?
67% 65% 60%
Standardize
processes
Follow best
practices in financial
processing and
working capital
Achieve cost
reduction through
productivity gains

4. 4
We have migrated our credit and collections
into an SSC and have begun to standardize
processes and have reduced some of our costs.
We aren’t completely satisfied with our results.
How can we continue to optimize?

5. 5
27%
Are companies satisfied with their shared service center?
indicate implementing an SSC
didn’t satisfactorily allow them to
achieve their objectives.

6. 6
What are the obstacles to achieving financial objectives
and satisfaction within a shared service center?
Internal cultural issues
An inability to measure performance
Lack of technology

7. 7
We were managing credit and collections across
disparate systems and spreadsheets, which made it
difficult for us to measure our performance. By
implementing credit and collections technology to
centralize data into a single view of cash and risk,
we not only drive process improvements and increase
cash flow, we have the information in one system to help
report our performance back to the businesses.

8. 8
40%
Specialized technology makes the difference
of experienced SSC professionals
highlighted the importance of
best-in-class technology in order
to achieve financial and operational
objectives and ensure a high
level of satisfaction among
internal counterparties.

9. 40%
use specialized
technology to
manage credit risk
30%
use specialized
technology to
manage collections
What is specialized credit and
collections technology used for?

10. 10
Rules
engine
Oracle
JDE SAP
AS400
Centralized
repository
Collections
management
Credit
facilitation
Cash
application
Dispute
resolution
• Consolidates data to a single
view of risk and opportunity
• Integrates with ERPs
• Drives automation and workflow
Specialized credit and collections technology

11. 11
I can integrate data from our disparate ERP systems
into our credit and collections automation workflow
solution for a single view of cash and risk. I can manage
credit risk, collections, dispute management and cash
application all in one system, which also makes reporting
easier. Predictive analytics is also embedded into the
system to help me use my customers’ payment behavior
and drive my collections strategies.

12. 12
Close collaboration with
internal stakeholders,
including business units as
well as external partners
such as collection agencies,
is fundamental to delivering
value across an SSC.
Collaboration is key

13. Optimize your credit and
collections within your shared
service center or center of
excellence with specialized
credit and collections technology.
Are you ready?
Talk with FIS today.
getinfo@fisglobal.com
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