Along with Dr Reddy’s strategy of going global, there came an opportunity for the finance function to innovate and participate in value creation for the company – be it innovative funding, world class reporting, strengthening the process for new Sarbanes- Oxley Act [SoX] compliance or creating a Shared Service Centre (SSC).
Now our data is more structured with standardized reports, offshore processing of transactions – leading to cost advantage, unified document management, centralized transaction processing, and helping us achieve a productivity of 6% in terms of cost or 16% in FTE in the last two years and a better score in SoX compliance and governance.
In the future, what will carry greater weight in GBS is faster, easier-to-access services that help cut down time spent on non-value-adding activities, and allowing us to focus more on critical business activities. The need of the hour at our organization is “Do more with less” and our shared services approach fits perfectly with this philosophy.
