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  • Lik Wai Toh

    November 14, 2021 at 8:14 pm

    The current trend is to build a shared service center and centralize Finance and HR into the regional functions. Create a Finance and HR shared service model, connecting subject matter expertise, automation, decision support, and interactive solutions. The main focus should be on strategic business outcomes and empowering people to drive best practices. It supports a CFO to remain ahead of the competition by bringing down cost and operational inefficiencies. The project consultant would take the following steps to ensure the change of de-centralization to centralization is efficient and effective.

    First – understand the current roles and functions currently held responsible under different departments in the organization.

    Second – consolidate the tasks from all the departments and analyze whether any redundancy. This process is essential because it can reduce repeating tasks.

    Third – planning the headcounts to be hired in the shared service center.

    Fourth – prepare the process documentation handbook for each function.

    Lastly – provide routine training to upskill the employee to match the HQ requirement.

    After the above change, the organizational structure will be more precise because the standard key functionalities are under one umbrella, including sales analysis, forecast, and employee training.