Although the concept of “shared services” is relatively new to government and other public sector clients, Top5 has a long history of implementation success in the private sector. Shared Services are designed to eliminate silos and share a pool of resources among entities in order to make routine processes as efficient and cost effective as possible.
The greatest benefits to our clients in the implementation of a Shared Services capability are as follows:
- Reducing the cost of back-office functions in order to devote more resources for other programs
- Consolidating and streamlining business practices and administrative processes
- Implementation of advanced functionality such as e-government and self-service web applications
- Creating the organizational foundation for migration of other financial, HR and other administrative services in the future.
Shared Services implementations streamline key business processes such as accounts payable, travel reimbursement, general ledger, procurement, HR/payroll and other high volume transactions.
Shared Services processes are usually governed by a service level agreement, which is a two-way agreement of commitment for both the agency or business function and the Shared Services center. Unlike basic centralization of services, Top5 works with our clients to design SLAs to make sure that both the user/stakeholders and the Shared Services center are meeting their mutually agreed upon goals.
Top5 was instrumental in the design, creation and implementation of a Statewide Shared Services Capability for the State of Ohio.
Efficiencies resulting from this project will help save Ohio taxpayers money and will help alleviate some of the staffing shortages that will result from the aging of the workforce in the years ahead.
The Financial Shared Services operation is expected to reduce agency finance costs by 10 to 15 percent annually for State participating agencies. Following implementation of the finance solution for fiscal years 2010 and 2011, Ohio Shared Services will explore restructuring the state's payroll processes and anticipates reducing payroll costs by a similar percentage in the 2012-2013 biennial budget.