A finance leader of a publicly traded retailer with over $20B in annual revenue wanted to:
1
Reduce SG&A spend that was outpacing revenue growth through an offshore Shared Services model
2
Standardize and modernize legacy processes that relied on undocumented workflows and institutional knowledge
3
Establish a framework for continuous process improvement across the organization
Approach
Monomoy deployed resources from its Operations Excellence practice to:
- Stand up program governance to oversee offshore vendor selection, work intake, and transition management
- Expand scope by identifying and onboarding additional processes into the Shared Services organization
- Implement ServiceNow workflow management to standardize operations globally and enable incident tracking and remediation
- Apply a “fix and shift” methodology, optimizing processes before migration (e.g., replacing manual invoice delivery with OCR-enabled processing)
Results
The engagement enabled over $12 million in annual savings through labor arbitrage and established an offshore Shared Services organization with over 200 FTEs, with a roadmap to scale to 300+. Service delivery improved through the establishment of operational KPIs across all in-scope service areas, providing greater transparency and accountability. A continuous process improvement program was created to drive ongoing enhancements across the organization, supported by a dedicated project management office overseeing improvement initiatives across the Shared Services function.