The primary objectives of setting up the Shared Service Centre are to achieve:
- Ease of consolidation of financial information
- Uniform adoption of new technology namely, Oracle Financials
- Co-ordination of system upgrades
- Reduction in reporting times
- Uniform adoption of best practice in all areas of the support function
Currently, the Shared Services Centre caters to the sourcing, finance and accounting, HR and IT requirements of more than 8 business units of the group. The setting up of the Shared Services Centre has resulted in establishing controls on the business processes, generating management information and streamlining the group policies in human resource management. The sourcing arm of the Shared Services Centre has also brought about considerable tangible savings by exploiting economies of scale, reducing transaction costs and improving supply chain efficiency. The HR policies across the Group have also been standardised.
The Shared Services Centre has allowed the business unit heads to focus on core business activities. In spite of carrying out substantial expansions the business units are not required to increase the support staff for these functions as the Shared Service Centre provides the required support.