Being Future Relevant – Finance Professionals in Shared Services
Over the past years, the evolution of consolidated business services has seen the maximum flow of F&A and related processes into centres of excellence and expertise. Most organisations begin their business services transformation journey with F&A processes, which are carved off into globally consolidated centres – as self-owned captive units or outsourced to third party, across both domestic and overseas geographies. In 2020, the value of offshored business services is expected to surpass US$ 225 Bn of annual revenue. As it stands today, more than 80% companies which have embarked upon business services journey in the world have finance shared services, and it constitutes 15% of the total business services industry globally, becoming the ‘seed’ for expanding business services to other functions.