Cost optimisation continues to be a central focus in the shared services industry, especially in the midst of ongoing global economic challenges, the integration of expensive yet groundbreaking technologies, and the dynamic nature of the workforce. In this era, strategic cost management holds paramount importance.

Jan Nikus, Vice President of KONE Business Services, emphasises a departure from short-sighted cost-cutting measures towards a more proactive and forward-looking approach to cost optimisation. As Arpitha Shetty underscores, the emphasis should not solely be on streamlining processes but also on enhancing value for the enterprise, which inherently leads to cost efficiencies.

In the latest report from SSON, we delve into various examples illustrating how organisations can embrace a strategic, long-term approach to cost savings.

Readers of the report will walk away with the following takeaways:

• IT Financial Management: Customising IT frameworks to align with business objectives can facilitate the elimination of redundant IT resources, thereby reducing costs.
• Generative AI: Despite being perceived as a substantial investment, generative AI holds promise in terms of time efficiency, error reduction, and improved customer satisfaction, all of which can significantly contribute to cost-saving initiatives.
• Outsourcing: While not a novel concept in the shared services landscape, the report underscores the cost-reducing potential of outsourcing through benefits such as economies of scale and enhanced cost predictability.
• Resource Management: Efficiently managing human capital within an organisation can unlock the full potential of existing talent, thus mitigating the need for additional hiring and reducing labour costs.