{"id":945,"date":"2022-07-12T04:04:23","date_gmt":"2022-07-12T04:04:23","guid":{"rendered":"https:\/\/ledgengroup.com\/my\/?p=945"},"modified":"2025-08-13T08:50:06","modified_gmt":"2025-08-13T08:50:06","slug":"financial-shared-service-centre","status":"publish","type":"post","link":"https:\/\/ledgengroup.com\/my\/financial-shared-service-centre\/","title":{"rendered":"Getting Started with Financial Shared Service Centre (SSC) for Your Business"},"content":{"rendered":"

As economic globalization accelerates, the use of financial shared services has increased among business alliances, multinational corporations, and other organisations. Some businesses have a parent company and several regional, national, or international subsidiaries that utilise the shared service model.\u00a0<\/span><\/p>\n

Shared services allow the regional branch to access the larger pool of resources that are only typically available at headquarters. Finance and accounting departments are frequently outsourced to shared services due to the requirement for regulation and compliance. Financial shared services centralise a corporate function, cut down on repetition, and establish and uphold standards for best practices.\u00a0<\/span><\/p>\n

What is a Financial Shared Service Centre?<\/b>\u00a0<\/span><\/h5>\n

The financial shared service centre (SSC) is a business model that consolidates business operations within one parent company. An SSC acts as a centre for a specific service such as accounting, payroll, or purchasing, serving the many branches and divisions within an organisation. The SSC model is often employed in contrast to a centralised or localised team to standardise, automate and combine voluminous and repetitive tasks.\u00a0<\/span><\/p>\n

Why Choose Shared Service Centres?<\/b><\/h5>\n

Many organisations opt for shared service centres (SSC) because of the scaling opportunities they provide. Smaller units in new locations can tap into the same standardised resources as those in the headquarters to grow and scale.\u00a0<\/span><\/p>\n

SSCs are also employed due to the cost reduction they offer and the quality and professional support they provide to a business. SSCs can also create a higher degree of strategic flexibility that allows a business unit to focus on core strengths while delegating voluminous and repetitive tasks effectively. When done and managed well, SSCs can eliminate redundancy and improve efficiency.\u00a0\u00a0\u00a0<\/span><\/p>\n

Malaysia is a very popular destination for shared services, for a variety of reasons. Other than the lower cost for human capital, Malaysia\u2019s public education infrastructure combined with many foreign university campuses produce high quality, multilingual workforce in the accounting, finance, legal and IT industries to power the multi-national SSCs in the country.<\/span><\/p>\n

With the help of the team at <\/span>Ledgen<\/span><\/a>, you can establish a financial shared service in Malaysia. <\/span>Find out more<\/span><\/a>.\u00a0<\/span><\/p>\n

Benefits of shared service:\u00a0<\/b><\/h5>\n