Shared Services

Are you ready for shared services? LMI helps agencies prepare and providers meet customer needs.

 
Innovate with less. This mantra is the driver behind the Office of Management and Budget’s Shared-First initiative. Shared services promise reduced costs and modernized systems. Their power: to enable agencies to leverage technological advances to cost-effectively improve the efficiency and quality of operations.
 
LMI understands, however, that migrating to a shared services provider (SSP) is difficult.
 
  • Business processes must align with those of the SSP.
  • Data must be cleansed and system capabilities understood.
  • Reporting requirements must be assessed.
  • Impacts on personnel must be evaluated.

Careful preparation is critical—both for agencies seeking to use shared services and those planning to provide services. 

Understanding User Challenges

LMI has first-hand user experience. LMI experts in financial management, information systems, cost analysis, and human capital can assist agencies and SSPs with this planning. We’ve helped numerous agencies prepare for shared services and financial management modernization, including

  • Department of the Treasury,
  • Department of Health and Human Services,
  • Central Intelligence Agency, and
  • Department of Defense.

Our recent research with the Association of Government Accountants (AGA), “User Experiences: Shared Services in Government Financial Management,” has further honed this understanding. Findings reveal that current shared services users value outside assistance, especially in the areas of change management, program management, systems integration, and financial management. This appreciation may be due to unforeseen migration costs and incomplete planning.

Assessing Provider Offerings

Our deep expertise extends to providers. We recently helped develop a benchmarking tool to assess SSPs. We aligned the processes of four SSPs to enable collection and aggregation of cost and performance metrics. For example, for the procure-to-pay process, we developed metrics such as “On-Time Vendor Invoice Payments” and “Interest Paid.” We then created an automated tool that agencies can use to calculate SSP metrics and compare them to in-house operations.
 
Whether you are an agency seeking to migrate to shared services or an SSP seeking to refine your offerings, LMI can apply this expertise to help you navigate the planning process, oversee implementation, and develop management and monitoring strategies to help you reap the benefits of shared services.