Organizing shared services center

If the following is true in respect of your holding:

• there is a large number of legal entities,
• different business units (branches and legal entities) are spread throughout different territories,
• different accounting methods are applied,
• considerable expenses for accounting and financial reporting,
• there is a redundant number of staff involved in accounting processes,
• there is a difference in applied information systems,

and in connection with that you would like to transfer accounting functions to a shared services center, we are ready to provide you methodological support including:

• developing requirements to a shared services center;
• developing principles of the organizational structure of the shared services center;
• development and implementation of uniform methodological principles for bookkeeping, tax and management accounting, for accounting, tax and management reporting;
• design and implementation of the uniform (integrated) management system fulfilling the requirements of the whole set of accounting processes;
• adjustment and reconciliation of accounting business processes from generation of accounting information to generation of reports to improve the efficiency of decision-taking;
• distribution of accounting functions between all responsible individuals in order to identify the limits of responsibility of the parties involved in implementation of business processes;
• development of the requirements to the informational support of the shared services center operation.

In addition, we shall take part in development of a typical project solution for implementation of the operation of the shared services center in the informational system of your choice.

Establishment of the shared service center shall enable you to:

• minimize costs,
• improve the quality of accounting procedures,
• simplify integration of newly acquired companies into the group,
• save time spent by management on administering accounting processes.