Digitization is critical for building a future-ready finance function. In the context of a shared service center (SSC), digitization enables an organization to pay suppliers, collect from customers, record transactions, and carry out other critical processes while achieving greater efficiencies and economies of scale. New tools and capabilities from digital banking and fintech partners are also helping to transform the way that organizations carry out treasury and finance operations, from working capital to liquidity and beyond.
APQC hosted Ryan Berza, vice president of treasury solutions at J.P. Morgan, for a webinar on how digital banking and fintech partnerships can help SSCs accelerate the work of digital transformation. This article is a summary of the presentation that includes Berza describing the SSC landscape at a high level, providing a maturity model that organizations can use to think more deeply about digitization strategies for their SSCs, and the ways in which digital banking tools and capabilities can help to accelerate the work of digital transformation, using procure-to-pay (P2P) and order-to-cash (O2C) as examples.