Organisations 'benefiting from finance shared services'

Dec 2 2008 11:07AM

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Two-thirds of organisations which have implemented finance shared services have realised the expected benefits, according to new research.

Conducted by CFO Europe on behalf of KPMG, the study also found that bodies which have already invested in such schemes are keen to expand them further.

Daniel Rona, associate partner at KPMG, said: "Over 70 per cent of respondents want to grow their finance shared services into the higher complexity areas such as management information and reporting."

More than 60 per cent are looking to extend the geographic reach, he added.

However, firms looking to implement shared services must take customer feedback into account when doing so as this will allow them to offer high-quality provisions, Mr Rona stated.

Recently, a study by analytical firm Ovum predicted that the shared services market will be worth around £4 billion between 2007 and 2012.

This equates to a compound annual growth rate of eight per cent.