Shared Services

Shared Services

shared services - enterprise architecture

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.

  • Economies of scale and greater cost efficiencies
  • Establish standards and simplify environment
  • Improve flexibility to adopt key process changes across entire operation
  • Ability to establish common performance metrics and monitor results
  • Ability to coordinate and integrate across organizational boundaries
  • More effective use of common infrastructure
  • Standardization of Processes – Best practices
  • Common Technology Platform
  • Decision Support – Data analysed and delivered as actionable information
  • Flexibility – Shared Services can be sourced through multiple carrier channels and multiple geographic locations
  • Scalability – The Shared Services delivery model can be scaled for both acquisition/geographic and service scope expansion.

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.