Last week our excursion on Corporate Culture treated implicit company rules. We did this because it is essential to what we’re gonna do now: since the basics of SSC are well established at this point, we’re gonna look at the individual work processes and how they fit inside the Shared Service Management.
First: Risk Management – or alternatively TPDD (Third Party Due Diligence). The question arises: what do we mean by this term? Let’s suppose your company sells a lot of products to new customers all around the world. For example, clothing. Local departments create hundreds of new customers every day. So, the statistics are on your side. You can live with a certain percentage of sales that don’t pay off or with some cases in which the customer misuses their bought product. But what if the subject becomes more delicate than clothing? If you sell expensive technical articles or potentially dangerous chemical products? That if misused can threaten the reputation of your whole company? Normal due diligence processes like running a credit report or checking bank references of a new customer come to mind. That offers a lot of difficulties though. And here is where Shared Service Management comes into play.
A customer for example, approaches a local headquarter of a company with a certain request. But he was already unsuccessful in trying the same over another channel. Without SSC the local manager has no way of knowing who he is dealing with and even possible fraud becomes difficult to prevent. With all the available information being part of a Shared Service application, the prospective customer can quickly be identified and dismissed. The local manager is then able to see at once, that the credit report has already turned out to be negative elsewhere and no longer has to run one by himself. And on the other hand, already existing credible customers can be recognized as such without complicated search processes.
How to implement workflows that create uniform and transparent due diligence processes – more on that next week! Stay tuned …
Come follow us on LinkedIn
Leave A Comment