Celebrating Excellence in Shared Services: Key Trends and Best Practices from the Top 20 Most Admired SSOs of 2023

In our industry, the pursuit of value creation is a relentless endeavor, driven by unified synergies, digital transformation, talent development, and a commitment to continuous improvement.

As we approach the announcement of the 2024 Top 20 Most Admired SSOs in September, it’s important to reflect on the achievements that have set the benchmark in 2023. The organizations recognized last year demonstrated excellence across various dimensions, from digital innovation to talent management, showcasing what it takes to thrive in today’s competitive environment. Here are some of the key trends and best practices that have emerged from their successes.

Driving Efficiency Through Digital Transformation

Digital transformation has been a catalyst for efficiency across shared services. The Top 20 SSOs have embraced automation and AI to refine their processes, leading to significant improvements in speed and accuracy. These advancements go beyond technology-they are reshaping how services are delivered.

Key Takeaways:

• Prioritize Automation: Automating routine tasks can lead to substantial time and cost savings, allowing teams to focus on more strategic initiatives.
• Leverage AI for Insights: Implement AI-driven analytics to enhance decision-making and operational performance.
• Continuously Optimize: Digital transformation is an ongoing process; regular updates and optimizations are essential to stay ahead.

Enhancing Workforce Capabilities with Talent Development and DE&I

Top SSOs have placed significant emphasis on nurturing talent and fostering inclusive workplaces. By investing in DE&I initiatives and leadership development, these organizations have created environments where innovation and engagement thrive.

Key Takeaways:

• Invest in DE&I: A diverse and inclusive workplace drives creativity and resilience.
• Develop Future Leaders: Leadership programs are key to sustaining long-term success and retaining top talent.
• Engage Employees: A focus on employee engagement and well-being leads to higher productivity and job satisfaction.

Elevating the Customer Experience

The most admired SSOs have shown that a customer-centric approach is vital for success. By refining service delivery models and utilizing data to anticipate needs, they have set new standards in customer satisfaction.

Key Takeaways:

• Adopt a Customer-First Mindset: Understanding and prioritizing customer needs can significantly enhance service quality.
• Utilize Data Analytics: Data-driven insights enable better customization and more proactive service.
• Iterate on Feedback: Regularly gather and act on customer feedback to refine service delivery continuously.

Achieving Financial Excellence Through Strategic Optimization

Financial performance continues to be a core focus for top SSOs. Strategic process optimization and the alignment of performance metrics with business goals have led to notable financial gains, reinforcing the importance of operational excellence.

Key Takeaways:

• Focus on Process Optimization: Streamlined processes are crucial for reducing costs and increasing efficiency.
• Align Metrics with Goals: Ensure that performance metrics directly support business objectives for maximum impact.
• Monitor and Adjust: Regular financial reviews and adjustments help maintain alignment with strategic goals.

Expanding Service Scope to Drive Innovation

Expanding the scope of services has been a key strategy for many SSOs in 2023. By exploring new areas such as digital marketing or supply chain management, these organizations have not only diversified their offerings but also strengthened their value proposition.

Key Takeaways:

• Explore New Service Areas: Broadening your service scope can open up new revenue streams and opportunities.
• Innovate Continuously: Stay competitive by regularly introducing new services that address emerging market needs.
• Strengthen Core Services: While expanding, ensure that existing services remain robust and aligned with client needs.

The Opportunity to Shine

As we reflect the achievements of the 2023 winners, we also anticipate the unveiling of the 2024 Top 20 Most Admired SSOs. Now in its 8th year, this exclusive, by-invitation-only benchmarking study highlights the outstanding efforts of SSO/GBS professionals. It celebrates and captures exceptional performance across areas such as Automation, HR & Talent, Payroll, P2P, O2C, R2R, and more.

This benchmarking study not only recognizes excellence but also provides valuable insights for participants and the broader SSON community. By comparing themselves against the best, organizations can identify areas for improvement and set new goals for future success.

Please join many of the 2023 Top 20 Most Admired SSOs during the Shared Services & GBS Digital Summit to receive industry benchmarks and really good advice on how to continuously challenge the GBS model!

Event registration.

Congratulations again!

Until Next Time!

Naomi Secor, Global Managing Director, SSON Research & Analytics

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