Shared Service Centres

Please choose the most appropriate answer for each sentence.
  • 1

    Shared service centres (SSCs) are not a new phenomenon within the financial services industry; indeed they have become an established part of the business process ..... for many large multinationals, says Hugh Davies of Citi.

  • 2

    For corporates, the underlying principle is the pursuit of highly efficient operations and service through re-designing and centralising common processes; if a company has ..... activities across its organisation - combined with multiple bank interfaces - it will have less control and visibility over its operations.

  • 3

    This is of particular concern at a time when companies face ..... obligations under regulations such as Sarbanes-Oxley, when they must demonstrate high levels of accountability and transparency throughout the organisation.

  • 4

    There is also the desire among corporates for improved company-wide cost management, as they face increased pressure to obtain extensive cost savings from middle- and back-office operations, as well as better visibility over ..... capital.

  • 5

    While greater economies of ..... and cost efficiencies are derived from centralised processing, corporate treasurers are taking on an increasingly strategic role within the company.

  • 6

    This is resulting in improved use of information and is ensuring that SSCs are becoming an essential tool that can provide visibility and transparency of ..... information across the company for the creation of value and competitive advantage.

  • 7

    Harmonisation of financial infrastructures as a result of the single ..... payments area (SEPA) is also an opportunity to rationalise accounts and legal structures, and therefore derive further efficiencies from SSCs.

  • 8

    The SSC platform and the related systems built around it are an excellent way to ..... the fundamentals of SEPA and adapt quickly to realise the benefits.

  • 9

    Establishing an SSC and centralising functions does not necessarily mean the removal of traditional payment and collection ..... that are required by local operating companies where supplier and customer relationships are maintained.

  • 10

    The rationalisation of banks and systems will lead to the concentration of risk, and in order to ..... this risk, the standardisation of interfaces and formats is absolutely critical.

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