Shared Services is a business model that enables resources to be leveraged across an entire organization resulting in lower costs with agreed upon service levels.
As a Benefits platform, shared programs can apply to multiple divisions, units, subsidiaries, sister companies, associations, foundations and franchise organizations. With each entity able to maintain independent choice and control over benefit structure.
A range of different products and services can be supported within our shared service delivery model. The model offers economies of scale, realization of efficiencies, stronger negotiating positions, and streamlined business processes. There is also the potential for improved management and the improved quality and delivery of service. Cost economies are particularly effective with routine, high-volume transactions, such as drug and dental claims processing as well as risk mitigation products and programs.
Our shared services offer the ability to standardize business processes and provide benefits to all divisions involved, without homogenizing plan specifics. Plans are designed with each entity to accommodate demographic differences, location demands, and employment contracts.
In today’s complex benefit and compensation landscape, organizations are challenged to consistently deliver top-quality products and high-quality services while consistently reducing costs. They need the ability to address changing business needs quickly, effectively and easily.