Theory and practice discussed during a client webinar event on 1 October.
Over the past years many corporates – as well as banks, including ING - have evaluated the set-up of their operations, which in many cases resulted in the (further) centralization of certain processes through, amongst others, the establishment of a SSC. The 2008 financial crisis accelerated the need for increasingly efficient processes which resulted in multinationals enhancing their grip on liquidity management, harmonization of processes and realizing cost efficiencies. All these circumstances brought about an unrivaled expansion of (new) Shared Service Centers in low-cost regions.
ING itself draws on many years of experience working with corporate clients who are centralizing towards a SSC (both establishment and expansion of duties); and is itself part of the SSC community.
But setting up a shared service center and fully drawing the benefits therein is not easy and takes long and hard work.
During the webinar, therefore, we have touched upon the key drivers for setting up a SSC; the challenges that many SSCs encounter and the cycle of enhancing existing SSC set-ups. ING`s relevant experience and potential solutions were explained by Simon Kaptijn; followed by Michiel den Nieuwenboer of Accenture, who gave an insight into the latest relevant trends & technology. Theory was followed by practice: our two esteemed clients, Jeroen Brieffies of FrieslandCampina and Bas Duynisveld of Akzo Nobel sharing their experiences on their respective SSC journeys. Our moderator, Sofie van den Enk, and her co-host, Guido van Ingen have made sure that the discussion is relevant and lively, among others by relaying questions coming live from the audience.
Although one hour is certainly insufficient to deep-dive into the details, we hope that the webinar conveyed useful information for treasurers already taking the journey as well as those considering centralization via establishing a Shared Service Center.
Interested in the subject? Watch the recording of the webinar at a time of your convenience, or share the link with your colleagues.
Do you have questions on how ING can support your centralization journey?
Please contact ING Head Transaction Services Sales The Netherlands, Guido van Ingen.