Shared Services Best Practices

Use Detailed Vendor Error Reports to Proactively Reduce Errors

Best Practice (Good)

Use detailed vendor error reports to notify vendors of errors by frequency and type. Vendors can use the detailed information in the report to reduce their errors by making adjustments to their practices.

Typical Practice (Bad)

Expect invoices or documentation to contain some level of vendor errors. Once errors are identified, ensure that the invoices are returned for correction and resubmission. Vendors are responsible to fix the errors they make.

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Benefits:

Vendor errors may cause long delays in the fulfillment of the invoice because it takes time for invoices and documentation to be returned, corrected and resubmitted. Detailed vendor error reports notify vendors of encountered errors and allow them to reduce errors proactively. Vendors who are not aware of the details behind the errors they make may find it difficult to reduce those errors across the board.

Automate Late Payment Notifications to Increase Awareness of Delinquent Payments

Best Practice (Good)

Ensure that Accounts Receivable (AR) processors work closely with the IT Department to standardize and automate late payment notifications. Standardizing late payment notifications reduces the chance errors will be made within the notifications themselves; automating them allows notifications to be sent out in a timely manner.

Typical Practice (Bad)

Ensure that Accounts Receivable (AR) processors notify customers of unpaid bills as soon as delinquent accounts are discovered. The sooner delinquent accounts are discovered, the sooner customers can be notified.

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Benefits:

Working closely with the IT Department to automate late payment notifications reduces the number of times customers miss notices of late payments because the notifications were sent late or were not sent at all. Furthermore, standardizing automated notifications reduces the number of notification content reviews necessary and frees up Accounts Receivable (AR) processors to perform other tasks.

Develop an Online Knowledge Base that Answers Common Questions and Issues to Improve Customer Experience

Best Practice (Good)

Create an easily searchable external HR knowledge base (FAQs, benefit information, and more housed on the company Intranet, or similar) for the organization that allows employees find answers to common benefits and compensation-related questions. Ensure that the HR knowledge base is clear and easily understandable. Furthermore, ensure that the knowledge base is updated based on new benefits or compensation plans, feedback from employees and common inquiries.

Typical Practice (Bad)

Contact the HR team to answer all compensation-related inquiries. It is the responsibility of the HR team to keep all employees informed about their benefits and compensation plans.

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Benefits:

Creating an easily searchable and understandable external HR knowledge base allows employees to quickly find answers to simple benefits and compensation inquiries. This not only reduces the amount of time employees spend searching for answers, but it also frees up HR employees to focus on higher value, core tasks.

Periodically Train Employees on Security Awareness to Reduce the Risk of Errors and Damages

Best Practice (Good)

Provide detailed information technology security awareness training to new and existing personnel at regular intervals (yearly, quarterly, etc.), including contractors and other users of information systems that support the operations and assets of the organization. Security awareness training should be supplemented by the distribution of informational resources when policies are updated.

Typical Practice (Bad)

Provide new employees with company policy documentation concerning security awareness during new staff orientation. Employees are responsible for reviewing presented documentation and keeping up to date on company policies on their own.

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Benefits:

Training employees and keeping them up-to-date on security awareness reduces the risk of potential errors and damages from occurring through human error, including falling prey to phishing emails or other spam content that seeks to place malware or malicious software on the company's network.