Seven Pointers to Successful Shared Services

IShared service organisations are failing to live up to expectations.  A recent Research Study by Alsbridge plc of nearly fifty global shared service organisations showed that SSCs are not realising their full potential.  In all the categories analysed (Process, Technology, Regulatory, Organisation and Regulatory) average scores ranged from 2.8 to 3.2 out of a maximum of 5 and even organisations that have been in operation for over five years failed to achieve maximum scores. One of the most alarming features is that only a handful of organisations could report that they had zero compliance issue and ensuring regulatory compliance was seen as an ongoing challenge for the SSCs.

So what are some of the key areas in which SSCs falling short? 

  • Lack of standardisation and steadfastness to truly transform processes which is impeding processing efficiency.
  • Failure to re-allocate resources.
  • Limitation of scope.  Many organisations still only include selected transactional processing activities in their scope.  For example, only a quarter of our research study respondents have their final statutory accounts produced by the SSC.
  • Business units opting out.
  • Limited investment in technology enablers to automate processes.
  • Simplistic charging mechanisms which tend to be based on a cost allocation calculated on the basis of a specific business unit characteristic (e.g. revenue).
  • Cumbersome SLAs that lack buy in from key stakeholders.
  • Ineffective governance structures.


So, how do you make shared services work?

1). If the benefits of shared services are to be fully realised, it is essential that the shared services part of the operation fits into the overall corporate operation in a seamless way and management focus is maintained.  Ownership by top management of the end to end process is vital and a senior management mandate is essential for ensuring that:

  • Processes are standardised,
  • Business units comply with policies and procedures,
  • Resources are re-allocated,
  • The SSC gets the investment required to automate and truly transform processes.

2). Create a governance structure that encourages open dialogue between the shared service and its customers at all levels; from day to day communications at the production level to strategic discussions at the senior management level.  This is essential for effective decision making and to ensure that issues are resolved rapidly.

3). Invest time in building the relation between the SSC and the retained organisation.  Personal relationships and dependencies are as important here as in any other part of the corporate structure and are key to smooth running and efficient operations.  So, managing the relationship and keeping it healthy is an ongoing requirement.  Recognise that this takes time and effort.  Give the structure of the retained organisation as much focus as you do the new shared service structure.  Get the right people in the right roles in the new organisation (a good Accounts Payable manager does not necessarily make a good Relationship manager!). 

4). Strive to Increase the scope of the SSC.  SSCs tend to start with repetitive high volume transactions but as confidence grows and the relationship improves they should move up the value chain …

What To Look For In A Good Nail Salon

When deciding what nail salon to choose it is imperative that you do your research. There is nothing worse that choosing the wrong place and getting a poor manicure or pedicure. The repercussions can range from an ugly manicure or pedicure to a serious infection. Currently localities are requiring more and more that these nail salons be licensed and inspected periodically for compliance with sanitation standards. The fact that using cutting tools on the skin can create an opportunity for infection is the primary concern for lawmakers.

Once you’ve found a licensed nail salon the next step may or may not be the location. Obviously, it needs to be convenient for you patronize, however, that should not be your primary consideration. Driving an extra 30 minutes is not an issue if you’ve found the right place! Once you’ve found the right nail salon you will probably never ever leave them. Your relationship with the manicurist or pedicurist is extremely important and should never be overlooked. Since you will be getting a pedicure and manicure regularly you’ll be spending a lot of time with these people. You must enjoy being with them!

When you enter the nail salon look around. Does it look clean? Does it appear to be sanitary and tidy? These are the first clues to the conscientiousness of the employees and you can expect the same in the work they do for you. If the manicurist or pedicurist is tidy and keeps and clean work station you can expect a professional job. On the other hand, if the area is unkempt and dirty, you can expect that they don’t follow the sanitary guidelines they are supposed to and will put you in jeopardy. You will probably get a sloppy effort at best and they almost inevitably will cut some corners on your pedicure or manicure.

Do they have sample of their work for you to see? Look for photos of happy clients and pictures of the work they’ve done. You may want to look for an internet presence also. If they have spent the time and effort to put together a comprehensive website then you know that they expect to be in business for a while and are trying to build a reputation. If the webpage is just a generic free page you can assume that they are not putting any effort into building a business.

Look for references. Find out what other clients think of them. If they are not very good you know someone is squawking about it somewhere. Check the Better Business Bureau and local commerce sites to find out how viable and legitimate this business truly is. Do they advertise in the yellow pages? If you put their name in an internet search do they come up?

How are you greeted when you walk in the door? Is it a pleasant greeting or are they just assuming that you are there to buy and no further effort is required? Are they trying to earn …

5 Great Tips To Motivate Your Employees And Increase Their Performance

Keeping your employees motivated is fundamental in order to achieve your company’s goals. Employees will be more productive if they are happy with their jobs; they will take better advantage of their time and their resources and invest all their efforts to contribute in reaching the organization’s objectives. Also, since the costs of hiring and training new staff are often higher than the costs of maintaining your current workers, it’s more beneficial to develop strategies to keep them satisfied.

Most organizations use economic stimuli as their main motivation strategy. It isn’t a secret that, although economic compensation is a great incentive for workers, it can fall short in keeping them motivated and happy at the company. More than extra cash, they want their jobs to be meaningful in their lives; they want to feel valued and appreciated.

Fostering a pleasant work environment, recognizing and celebrating the achievements of the team, or being flexible with schedules are some of the keys that can make the difference in having a motivated workforce; which in turn will guarantee, to a great extent, the success of the organization through its performance.

These five strategies can help you keep your employees motivated and improve your company’s productivity.

  1. Make them part of the course of the company

Giving your employees the possibility to participate and be part of some of the important decisions of the company is a great way to keep them motivated. When someone realizes that a community is taking their thoughts and opinions into account, they become interested in the success of the company and the common benefit. They may start working to improve their abilities and expand their knowledge on their particular job, and they will be motivated to work and participate through their work.

Even though most of your employees may not be qualified to make important decisions regarding areas such as investments, for example, or to find the most effective way to solve problems; their insight is something you must definitely value, it will provide a new, much needed perspective and the thoughts and ideas that come up with chatting with your employees, can actually help you make important decisions.

  1. Connect with your employees

There’s a stigma that boss-employee relationships should be serious and distant. It’s true that there has to be a certain formality, but showing that you care about their personal life can make the office feel like a second home to them, one where they’re appreciated not only as a worker but as a person as well.

Communicate straightforwardly, genuinely and frequently. Hold entire staff meetings periodically and interact with your employees by wandering around work zones and showing interest in what they’re working on. Congratulate staff members on important life events such as marriages or new babies, ask about their vacation trips, express your concern when they’re sick… Employees will respond positively to the support and it will increase their sense of belonging to the company.

  1. Contextualize their job

Everyone wants to make a difference in …

GAAP vs IFRS – Revenue Recognition

GAAP vs. IFRS Revenue Recognition

 

GAAP and IFRS are two very different forms of accounting. They have some aspects that are nearly identical, while others are completely different. One example of an aspect that sits more on the different end of the spectrum would be how each accounting method recognizes their revenue. They have some parts that work out the same, but overall, are very different with their rules and regulations on revenue recognition. GAAP and IFRS recognize their revenue in ways that are very different and cause economic transactions that seem similar to be quite different when revenue is recognized.

As we view each of these two different accounting systems, some people may ask why it matters how they relate. Well, that could be answered in a plethora of ways. Mainly, it is to see how distant the two methods are, and see if the world is any closer to harmonizing their accounting methods into one shared method of accounting (Daske). The end goal is mutually agreed to be the convergence of each method, or more so everyone converting to one of the two methods. Where one has the strict guidelines to cause a set track to follow, the other has broad rules but nothing specific for the given industries. These differences cause a lot of debate as to which is better for use, the IFRS system or the US GAAP system.

When looking at GAAP as opposed to IFRS, the biggest difference is the initial way that revenue is broken down into. For GAAP, revenue is either realized or realizable, and then earned.  Revenue under the rules of GAAP should not be recognized until an exchange transaction occurs (PWC). IFRS is broken down into four categories instead. These are sale of goods, rendering of services, others’ use of an entity’s assets, and construction contracts. These are set from two primary standards for revenue transactions (PWC). Overall, the breakdown of revenue in IFRS has broader categories than the GAAP system.

One of the major ways that GAAP and IFRS are different in their revenue recognition would be that GAAP uses a lot of industry specific guidance. GAAP, for example, requires vendor-specific objective evidence, or VSOE, of fair value to determine an estimation of the selling price (PWC). Along with this, IFRS does not have any requirement that can even be related to this regulation of GAAP (PWC). This lack of industry specific requirements shows how IFRS is a broader based system of accounting as opposed to GAAP. This allows for more leeway for the reporting of financial strength through what is considered as revenue.

IFRS has a standard 18 set principles that are applicable to each industry just like the one before. Not only does GAAP have industry specific rules and regulations as stated above, but they even allow exceptions for certain transactions. Along the same lines, they also request additional information from public companies, as stated by the SEC (Bank). This means that GAAP causes more work after …

Eurocentric Perception of Pre-Colonial Africa Justice Administration Process

Eurocentric Perception of Pre-Colonial Africa Justice Administration Process

Introduction

Every society has its own methods of controlling the social order to achieve a decorous culture; hence the essence of the legal framework cannot be denied. So, the criminal justice system delivers among other things, corrective procedure by which social deviants are brought in conformity with societal norms.

The African society is not an exception to this precept and in fact an epitome of operative customary criminal justice system, which though largely unwritten before the advent of colonialism, integrated a lush African culture unto its civilization. The post-independence era of most African countries however, bestowed utter aversion to these hitherto entrenched opulent customary criminal justice administration, downrightly reducing the system to nothing including those of the Nigerian customary criminal law.

Influenced by the received English law system, most postcolonial African countries are currently faced with the question of reconciling contradicting and often negating foreign law enforcement methods. The negative attitudes towards the African customary law practices have naturally stemmed from the lack of genuine efforts by the postcolonial African States to manage or resolve the unconventionalities for the overall good of the people, aggravating social instability stemming from breakdown of moral values; personal discontent, alienation, and anxieties of rampant conflict situations.

Nigeria, while not by any means the only postcolonial African State in this situation, typifies immersed brashness of imperialists Eurocentrism that is sequestered in primordial convictions of the Western world. Whereas, successive postcolonial governments have ignored to fervently resist negative tolerance of African indigenous law enforcement and social control mechanisms; thus, the native law systems have persisted and remain widely practiced throughout the continent.

This article hence aims to discuss remodeling of law enforcement in postcolonial Africa to reflect the uniqueness of the indigenous peoples, to remedy foreign abhorrence of the African justice process in insolence of preserving the bath-water after throwing away the baby.

The fields of criminal justice administration and particularly criminology only appreciably developed in the recent years. The main concentration as a consequence, being in the English speaking countries and Western European countries that presaged a state of western dominance of especially the historical criminology, making the western countries to pride themselves of many patterns of work in some areas of these fields.

In Britain for example there are a great number of documented commentaries that relate to the history of crime and crime control (see Emsley, 2002; Gattrell et. al., 1980; Godfrey, 1999).  Conversely, the dearth of criminological writings is a stumbling block to the African continent, even if there have been a marked change, as several authors have begun to advance this field (See Ebbe (ed.) 1996, 2000; Onwudiwe, 2000). Yet, the historical criminology of Africa is under-researched.

Additionally, penmanship of pre-colonial African history, especially those of sub-Saharan West Africa were largely ignored by mainstream academia since the authors that contributed to the field (for example, Karenga, Diop, Walker) were (at best) acclaimed for limited inquiry into Black (African) history. Whereas advances that paralleled …

Gender Theory

Alusine M. Kanu DA

Gender’ refers to the socially constructed roles, responsibilities, identities and expectations assigned to men and women. It contrasts with the fundamental biological and physiological differences between males and females, which are known as secondary sex characteristics. Gender roles differ between cultures and communities and over time. For many, gender is always thought about in binary terms: man/woman; masculine/feminine. Expectations of women and men are limited by these binaries, and are communicated through sex role stereotyping. These stereotypes limit gender appropriate behavior to a range of rigid roles which are assigned to women and men on the basis of their gender, for example, ‘women are nurturers’, and ‘men are aggressors’. These role expectations are subtle and deeply ingrained however there is great diversity in how individuals express their gender which frequently does not conform to these stereotypes. Not all women fit the stereotypical expectations of femininity, not all men fit those qualities associated with masculinity.

A theory of gender in communication1 is proposed by Dr. Anita Taylor, Emeritus Professor of Communication at George Mason University.  Primarily, Taylor generated explanations that account for the impact of gender in communication, whether the macro level of cultural discourse or the micro levels of interpersonal interaction or individual identity. In her literature review, Dr. Taylor pointed out that women should not be disadvantaged compared with men.  She added that the thing to note about the feminist movement is that there has never been one feminist theory or feminist movement.  Out of what seems like Feminist Theory is the development of Gender Theory.2 This illustrates complexity in coming up with a single theory.

Gender-related communication is much like cross-cultural communication in that the differences that being male or female create in communication and behaviors are potential barriers to communication effectiveness. The topic of gender and communication refers to the specific communication behaviors that a person uses because of being either male or female. In its demand for equality for women, “feminism sets itself in opposition to most cultures on earth.”  “Multiculturalism demands respect for all cultural traditions, while feminism,” according to Cohen and Howard (1999) “respects only traditions that indeed deserve respect”.3 Since we are destined to live in a two-gender world, and because many of our most significant interactions will be with people of the opposite gender, it is self evident that this area of study is important.  Add to this idea the finding that women’s communication is treated differently—and usually valued less-than men’s communication, and you can readily see that a basic inequality exists in society.  This inequality leads to women’s relative absence from top positions in virtually every area of academic, business, civic, and political life.  Not only is this situation unfair to women, it also costs every society in which it occurs untold amounts of energy because only part of society’s resources are being used. Studying gender and communication can help everyone to understand the realities of gender-related differences in communication instead of perpetuating assumptions about male-female …

Discover Precious Coins with GovMint Key Codes

Building a collection of something usually costs a ton of money – especially if it’s a collection of money. I’m talking here about coin collecting. While people have gathered and hoarded coins, old and new, for their bullion or artistic value for as long as coins have been minted, nowadays it’s getting harder to keep up. That’s why collectors are using hobby and collectibles coupon codes so that they can acquire stuff without regretting whatever it is that they are buying and collecting. After all, it’s no use carrying on a hobby that one cannot afford in the first place.

Can one afford to collect coins? Are you serious about amassing a collection of ancient, medieval, and modern currencies? If so, then you might want to take a look at GovMint.com, which has been dubbed as “Your One Best Source for Coins Worldwide”. Don’t worry: with GovMint key codes, you can collect even the rarest coins from different parts of the world at an affordable price. You can even take advantage of the many great discounts and online deals featured in GovMint’s catalogs. That way, you don’t pay too premium a price to have history in your hands.

At GovMint, coins from nations across the world are represented, and it’s easy to discover modern and ancient specimens in a variety of precious metals worldwide. “Precious” may mean “rare”: some of the coins and currencies you have the opportunity to collect at GovMint may never be available to the general public. That’s because GovMint is an industry leader in coin collecting, with a proven track record and affiliations with the top trade organizations in the numismatic industry. U.S. silver coins, U.S. gold coins, world coins, paper currency, precious metals, shipwreck and treasure coins, gifts, jewelry: all these, you can find and explore at GovMint’s vast catalog. You may choose to simply use the information contained therein as a great information resource, but if you’re a serious coin collector, GovMint is a kind of shopping haven. GovMint key codes are there for you to get the best bargains and deals.

Purchase for the first time from GovMint – or apply for free membership – and you will automatically receive the status of Preferred Customer. As a member of this prestigious club, you get to hear through catalogs and mailings about exclusive offers, online deals, and maybe even coupon codes. You will also have your own personal account manager to make suggestions and help you find items that fit your personal needs and preferences for your collection.

You can be sure it’s going to be a great authentic collection – and not just because of GovMint’s 30-day money-back guarantee. Since 1984, GovMint has worked hard to earn its reputation as a trusted source for old and new coins. Now it has grown to become a member of professional organizations that adhere to the highest standards of excellence and ethics; these include Better Business Bureau of Minnesota, Direct Marketing Association, American Numismatic Association, Industry …

Joel Sauceda (CEO Big Value Depot) Believes in Giving Back to the Community

Joel Sauceda is a man of integrity and honesty. It shows up in many ways and one of those ways is his contribution to charities. If you are trying to find out what kind of person Joel Sauceda is just read this excerpt from his biography and it will answer any questions you have. Believe me before you finish you will know that he is honest and wants to help you. This will definitely help you make an informative decision as to whether or not to join him in business like Big Value Depot.
Joel Sauceda’s exact words from his biography. “I have always believed in “giving back” to the community in which I do business. Someone gave me a chance when I was in need and I believe in doing the same for others. San Antonio is a community that has enabled this C MINUS student to build businesses and thrive despite the odds being stacked against me. I am greatly appreciative to the many mentors and people within this city who have given me a “step up” and NOT a “hand out”

It is NOT About Me!

My goals are not only about personal success but watching others grow despite their life challenges. It is for this reason that I have chosen to endorse local charities so I can be actively involved and have more of a “hands on” approach to helping people. I like to SEE who my gifts are impacting..that motivates me to do more!

The big question that any person who wants to “give back” should ask is this..”How Do I Give And Stretch That GIFT So It Impacts MORE than one person and more important, MORE generations to come?”

Invest In Children…

Kids parents are NOT all created equal and unfortunately there are many children who do not have the benefit of good advice or even positive re-inforcement. These are the children that my heart bleeds for. These kids deserve a better chance because after all, it is NOT their fault for where they were born or WHO gave birth to them.

My goal is to impact children who did not have the start in life that they COULD of had and to let them know that they have it in them to do better. God created them and therefore they are special and ALL have unique gifts (It is just a matter of helping them find out WHAT those gifts are!).

I Joel Sauceda am proud to endorse a community center based in San Antonio and named after a HERO who I admire. That HERO to children is none other than SONNY MELENDREZ. Sonny has given of his time over the years and spoken at over 1100 schools to THOUSANDS of kids, sharing the message of HOPE with them. It was not long ago that a community center which at that time was CINDER BLOCKS and NO air conditioning (in a VERY hot city) was named after Sonny and many of San Antonio’s …

Workplace Dispute Resolution

Dispute occurs between individuals or groups, often when they are competing for the same resources or when one group thinks that another has blocked its ability to reach its goal. On the other hand, conflict develops when one group appears to jeopardize the goals of another, becomes openly antagonistic to another, and is not governed by organizational rules. Once conflict develops, it is likely to get worse, as antagonism grows, the goals become even more important to the two groups and the groups begin violating the organization’s rules in an attempt to reach their goals. (Porter, L.W., W.J. Crampan, and F.J. Smith 1989)

An organization that is complacent may become lazy; if every one agrees about every thing, no one is motivated to do exceptional work to prove the value of an idea. Such an organization can quickly get into trouble if it competes with other organizations in a rapidly changing environment.   A manager of a relatively stagnant or complacent organization may stimulate conflict to get the organization out of its ruts.   When properly managed, conflict can lead to creativity and productive change in an organization. For instance a moderate amount of conflict between two people who are interested in the same issue can lead the people to raise new questions, new doubts and perhaps new solutions. People in conflict may acknowledge the existence of problems that complacent people would have ignored. To stimulate this type of productive conflict, a manager can take number of actions. He or she can change the relationships between people by, for instance, forcing people to compete more for scarce resources or moving them closer together physically, he or she can train people to recognize the value of conflicts and avoid easy, superficial agreement (Stein, L, May, 1995).   A manager may even enter discussions with the purpose of playing ‘devil advocates’, opposing the generally accepted ideas stirring up trouble to try to uncover opposition to the accepted goals or methods. Compaq Computer uses this approach in making most major decisions.   Conflict between groups can raise specific kinds of problems that require specific resolution techniques. The compatibility of two groups and the importance of their interaction for attaining the groups’ goal determine which of the following strategies are useful:   Accommodation is recommended approach when two groups have compatible goals but do not need to interact in order to reach their goals (Porter, L.W., W.J. Crampan, and F.J. Smith. 1989). The two groups will typically have friendly meeting to decide how they can both work towards their goal accomplish their inter-dependent task while spending the least time and energy.   When two groups are incompatible and neither groups need interaction with the other in order to achieve its goal, the two groups may simply avoid each other. The research and the financial departments of the company may have different ideas about how the company should spend its money and these differences many lead to a good deal of conflict when the two departments discuss the issues. However, because …

Necessary things to consider in starting a bakery business

Bakery business gets active earlier than the sun comes up, making breads, cakes and pastries very early every morning.

All through the day, the bakery will also produce breads, cakes, doughnuts, pastries, pies, rolls and everything else that is offered by each particular bakery.  A baker; not only bakes every day, but have also got to take care of all of the accounting, such as making sure the shelves are stocked and goods are on order. A baker calculates the quantity of flour, yeast, salt, etc. that is needed each day.

Bakery business comes also into different types such as mum & pop shops that do their own baking, franchise bakeries and industrial bakeries.

Baking is something that’s extremely pleasurable for many people, what is better than the aroma of cookies and bread baking in the oven?

By looking around your local shop you would be forgiven for thinking that large bakeries are swiftly overtaking smaller ones.  However this is not completely true.  Many small bakeries do not seem to have adequate power to compete in the world, but it is potential as long as you know what you are doing.

When you are considering preliminary any type of business which produces food you must think about the legal necessities.  You will be able to start using your existing oven but you must make sure you talk to the department of health to find out whether or not your bakery is up to scratch for profitable food production.

As you start, it is not all that easy to build your own business; you require having a good head for business and also being aware of all your expenses.  You must be able to keep your customers fully satisfied and happy with your products.

Your bakery business plan should be comprehensive and go into all of the costs which you expect to incur.  You will need to plan for a license and business permit.

Aside from the costs, you will also need to come up with most favorable pricing for your products so that they can compete with others while remaining beneficial.

You might be able to start your bakery right from your home provided you have all the necessary equipments and permits.  Another option to try out is renting a commercial kitchen.  Just make sure that the rental facility for your bakery is situated in a popular location where there are plenty of customers. If your bakery is not in a location with high step then it might be very hard to attract customers.

Lastly, you need to research the number of other bakeries in your local area, uncover what the competition is like and how much they will charge for similar product.

Also learn the local environment and find out how it will affect the prosperity of your business. Bakeries smell wonderful but this alone would not mean that people will be lured to it. You will need to endorse your business so that people know that it exists, …