A dedicated contract management and legal service unit that includes people, processes, and technologies and is structured as a centralized point of service is commonly referred to as a shared services center (SSC). Typically, SSCs are focused on one or more defined business functions, such as contract management and legal services, and may have physical locations that are either regional or global, and may operate onshore, offshore, or virtually. The service delivery of shared services can be executed by internal resources, external providers, or a combination of both and may involve a single or multiple business functions.
When integrating a shared service center into your company’s practice, there are a few key items to consider.
- It is important to establish both short-term and long-term goals in advance to make the most of the services.
Shared services adoption can often be delayed or underutilized due to a lack of clearly defined goals and objectives for the initiative. When this happens, shared services models can become stagnant and lose their overall value, causing frustration among internal resources who are looking for progress. To prevent this from happening, it is important to establish formal goals at the start of the initiative and involve all stakeholders who will be affected by the process.
- Be prepared for changes in company culture and resources before implementing shared contract management services.
Implementing a shared services team within an organization can result in significant changes to the culture and resource allocation. It is crucial to ensure that the team is aligned and aware of these changes to enhance company practices, internal job expectations, and shared services expectations, leading to seamless operations. This also ensures you get the most out of the contract management and legal services, as everyone knows what to expect from them.
- Create and implement a clear strategy concerning contract management and legal services.
It’s important to document all the necessary details of your implementation plan and share it with others to get their feedback. Also, make sure to assign someone to maintain and update the plan as needed. Good communication is essential during this process, as feedback from all parties can help improve and simplify your strategy.
- Keep communication channels open.
No one likes to be surprised during projects. Communicate early and often within your organization and with shared service providers to ensure that goals, strategies, expectations, questions, and concerns are addressed.
Finding a contract management and legal shared service partner. Every company and organization has its unique needs, and at ABiz, we are dedicated to providing personalized contract management and legal services tailored to meet those needs. Our primary goal is to help you achieve the most favorable outcomes in contract management by putting you first and working closely with you throughout the process. Whether you require mentoring, training, consulting, review, or negotiation services, our team of experts and strategic partners is always ready to assist you. Get in touch with us today and discover how our partnership can benefit your business.