A naukri.com initiative
Medium
3w
190
Image Credit: Medium
3 Tips on Building a Shared Services Group Inside Growing Startups
- A shared services model addresses issues like silos, redundancy, and waste within departments of a growing startup by consolidating core business functions into a single, unified team that provides support across all departments.
- Firstly, identify business functions to centralize, which typically includes administrative tasks, HR tasks, procurement, and accounts payable or receivable. This reduces operational redundancy and frees up teams to focus on strategic work.
- Once you have centralized your shared services functions, it is critical to define workflows and responsibilities clearly to ensure smooth communication between the shared services team and other parts of the organization.
- Project tracking becomes a key component of this process, ensuring that tasks are completed efficiently and nothing falls through the cracks.
- Relying on shared inboxes for communication and task tracking can quickly become a source of inefficiency. Startups should adopt project management and ticketing systems to manage incoming requests from various departments to create accountability and ensure no request is overlooked.
- Using tools like Slack for informal discussions and real-time collaboration is fine, but startups should integrate ticketing or project management tools with Slack to manage tasks.
- Regular team check-ins, problem-solving sessions, and sharing best practices among departments can improve efficiency and foster innovation. Communication tools like Slack can help break down silos and create a more collaborative culture across departments.
- It is essential to establish key performance indicators (KPIs) for your shared services group, such as metrics for efficiency, effectiveness, and customer satisfaction, in order to gauge how well the team is functioning and whether they're meeting the needs of the rest of the organization.
- StartingPoint is a powerful workflow and automation platform designed to help startups manage the growing complexity of their operations by consolidating multiple functions into a unified platform, with centralized project tracking that enables shared services groups to assign tasks, manage deadlines, and monitor progress.
- As your startup continues to grow, StartingPoint will scale with your operations, ensuring that your shared services team remains efficient and productive, ultimately driving long-term success.
Read Full Article
11 Likes
For uninterrupted reading, download the app