Global business services
Global business services (GBS) and shared service centres focus on delivering non-core business activities and administrative support to a business. In this model, multiple administrative functions which were once performed in separate divisions (and often in separate locations) such as finance, human resources and IT are united into a single, centralised location and overseen by a specialised shared service management function.Read more
A well-executed global business service strategy reduces costs, enhances productivity and offers access to talent and savings through potentially leveraging the wage economies of lower-cost locations. GBS strategies are often associated with outsourcing - though this isn’t always the case. As shared service strategies become more readily accepted as a solution for service provision a number of proven models have emerged including traditional outsourcing, joint venture offshoring, build-operate-transfer agreements and 'best shoring’
For many years outsourcing has been seen as a proven solution which increases competitiveness in organisations. One advantage of working with an offshore partner is that they are specialist in the fields in which they are being engaged. This means they are close to developments in technology, regulations, ‘best practice’ and commercial opportunities in their sector. Accounting services, for example, are commonly provided by accounting firms to help businesses meet their accounting and compliance needs. Services include bookkeeping, management reporting, compliance and tax planning
There are many roles available for ACCA members at both supervisory and management level both in organisations pursuing shared service strategies, and in third party outsource providers. Typically, individuals will have accountability for deliverables and ensuring the client receives a high-quality service as well as having responsibility for overseeing, co-ordinating and managing teams on a day-to-day basis.
A few examples of roles in this area include accounting manager - outsourced accounting services, purchase to pay (P2P) professional and the record to report (R2R) professional.