Business English Lesson – Advanced Level''''s archiveShared Service Centres potx
Bạn đang xem bản rút gọn của tài liệu. Xem và tải ngay bản đầy đủ của tài liệu tại đây (81.25 KB, 10 trang )
Business English Lesson – Advanced Level's archive
Shared Service Centres
1. Shared service centres (SSCs) are not a new
phenomenon within the financial services industry; indeed
they have become an established part of the business
process for many large multinationals, says Hugh
Davies of Citi.
landscape
portrait
scenery
viewpoint
2. For corporates, the underlying principle is the pursuit of
highly efficient operations and service through re-
designing and centralising common processes; if a
company has activities across its organisation —
combined with multiple bank interfaces — it will have less
control and visibility over its operations.
desperate
discreet
discrete
disparate
3. This is of particular concern at a time when companies
face obligations under regulations such as
Sarbanes-Oxley, when they must demonstrate high levels
of accountability and transparency throughout the
organisation.
compliance
complicated
contractual
convergence
4. There is also the desire among corporates for improved
company-wide cost management, as they face increased
pressure to obtain extensive cost savings from middle-
and back-office operations, as well as better visibility over
capital.
asset
labour
revenue
working
5. While greater economies of and cost efficiencies
are derived from centralised processing, corporate
treasurers are taking on an increasingly strategic role
within the company.
effect
nations
saving
scale
6. This is resulting in improved use of information and is
ensuring that SSCs are becoming an essential tool that
can provide visibility and transparency of
information across the company for the creation of value
and competitive advantage.
accessible
actionable
operable
objectionable
7. Harmonisation of financial infrastructures as a result of
the single payments area (SEPA) is also an
opportunity to rationalise accounts and legal structures,
and therefore derive further efficiencies from SSCs.
economic
euro
European
expense
8. The SSC platform and the related systems built around
it are an excellent way to the fundamentals of SEPA
and adapt quickly to realise the benefits.
embed
embroil
ensconce
entrench
9. Establishing an SSC and centralising functions does not
necessarily mean the removal of traditional payment and
collection that are required by local operating
companies where supplier and customer relationships are
maintained.
documents
instruments
offices
utensils
10. The rationalisation of banks and systems will lead to
the concentration of risk, and in order to this risk,
the standardisation of interfaces and formats is absolutely
critical.
inculcate
instigate
manumit
mitigate
