Research from Winshuttle, has shown the automation of manual tasks and reducing the cost of transactions are two of the biggest challenges currently facing enterprises with shared services centres in the UK and Ireland (UKI).
Almost half (46%) of senior professionals working in shared services centres believe that automation will help reduce the cost of the service according to the research, while 44% think it will lead to an increase in productivity and data entry accuracy.
Providing a centre of excellence for business functions such as finance within large businesses, the shared services model delivers many business-wide benefits from a cost and productivity perspective. However, the research reveals that 75% of survey respondents are yet to fully realise the benefits of automating many of their manual administrative processes. For finance this includes tasks such as accounts payable and purchase to pay, general ledger or journal entries.
Data management continues to be an issue for UK enterprises with 47% of survey respondents concerned about the duplication of data; 45%, lack of data validation, while 41% are concerned about corrupt data in their accounting systems.
Andrew Hayden, senior product...