Financial Shared Services – Connect to Grow

The recent ‘buzz’ surrounding the Internet of Things (IoT) “revolves around increased machine-to-machine communication; it’s built on cloud computing and networks of data-gathering sensors; it’s mobile, virtual, and instantaneous connection; and they say it’s going to make everything in our lives from streetlights to seaports “smart” according to Daniel Burrus in 'The Internet of Things is Far Bigger than Anyone Realizes' as posted on wired.com.

“Cloud-based applications are the key to using leveraged data. The Internet of Things doesn’t function without cloud-based applications to interpret and transmit the data coming from all these sensors. The cloud is what enables the apps to go to work for you anytime, anywhere.”

"The crux of the Internet of Things is connectivity. The new, expanded definition of connectivity refers to: 1) users connecting to smart devices to accomplish a task; 2) smart devices connecting with ordinary objects to deliver additional information, functionality, or value; and 3) smart software or smart devices connecting back with organizations to deliver insight on user behavior,” adds M.J. Anderson in his Target Marketing column 'Mobile First: Understanding the Internet of Things and Mobile Devices.'

In the corporate world of Shared Services, interconnectivity via cloud computing and process automation enable companies to shift resources from administrative work toward higher-value, more strategic initiatives. A successful Service Delivery requires the tools for making business processes more efficient, while delivering a superior, consumer-grade customer experience.

A Financial Shared Services Solution for instance, delivers increased productivity, efficiency and an enhanced customer experience through an innovative and integrated set of modules dedicated to the automation and streamlining of a firm's finance operations. These modules are uniquely designed to optimally perform such tasks as Finance Process Automation, provide a secure Supplier Portal and Finance Helpdesk, and Business Analytics - to monitor and identify opportunities to improve process efficiency, cost reduction and supplier engagement.

"Of all the technology trends that are taking place right now, perhaps the biggest one is the Internet of Things; it’s the one that’s going to give us the most disruption as well as the most opportunity over the next five years," adds Mr. Burrus.