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Shared Services Presentation for Las Vegas Chapter of IIA

Shared Services Presentation for Las Vegas Chapter of IIA. Rick Arpin October 24, 2013. Contents. Background of shared services Shared services at MGM Resorts Finance shared services at MGM Resorts. Background of Shared Services. What is Shared Services?.

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Shared Services Presentation for Las Vegas Chapter of IIA

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  1. Shared Services Presentation for Las Vegas Chapter of IIA Rick Arpin October 24, 2013

  2. Contents • Background of shared services • Shared services at MGM Resorts • Finance shared services at MGM Resorts

  3. Background of Shared Services What is Shared Services? Shared services is a business model that enables resources to be leveraged across an entire organization resulting in lower costs with agreed upon customer-service levels. In many instances, Shared Services is a separate business unit created within a company or agency accountable for delivering a suite of services to both the operating business units and the corporate functions. Source: Peeriosity.com • Leverage resources • Lower costs • Quality of service • Delivery across an entire organization

  4. Background of Shared Services (cont.) • Possible trends: • Global business services • Work from anywhere • Talent management General Electric Proctor & Gamble HP Widespread adaptation across industries, even medium-sized companies Outsourcing/offshoring through companies like: • IBM • Accenture • Infosys Back Office: Finance IT HR • Internet / cloud • Document imaging • Mergers and acquisitions Focus on technology and process improvement

  5. Background of Shared Services (cont.) • Current adoption Source: Deloitte

  6. Background of Shared Services (cont.) • Current trends – benefits of shared services • Ability to scale up or down. • Enhanced controls • Allow business units to focus more on the business

  7. Background of Shared Services (cont.) • Future outlook – move to “Global Business Services” • Manage multiple shared services functions (Finance, IT, HR, etc.) under one structure • Manage all global aspects of each function across regions Source: Accenture

  8. Shared Services at MGM Resorts • Finance – 2003 first adoption with Accounts Payable • IT – Help desk, project management, infrastructure • HR • Until now…benefits, compensation, University • Now…Employee services, talent management • Sourcing/procurement • Legal

  9. Finance Shared Services at MGM

  10. Finance Shared Services at MGM (cont.) • Accounts Payable • Payroll 2003 • Non-Gaming Acctg 2006 • General Acctg 2008 • Accounts Receivable 2009 • Casino Acctg 2011 2014 MGM Resorts Finance Shared Service Center • Enterprise Process Capabilities • Knowledge Centers of Expertise • IT Services & Architecture • Transaction Process Factory

  11. Finance Shared Services at MGM (cont.) 350 FSSC AP AR GA NGAA PY 325 CFO Dir. of Finance Casino Acct. Fin. Planning AP PY GA NGAA AP PY Administration Client Services Finance Projects Finance Systems Process Management Finance Analytics Chief Acct Off. Corp. Acct. Corp. Fin. Reptg. Corp. Tax Internal Audit 175

  12. Finance Shared Services at MGM (cont.) Benefits – Savings and ROI

  13. Finance Shared Services at MGM (cont.) Benefits - Value Added Services • Employee Banking – Process reengineering • AV Revenue Metrics • Workforce Scheduler • Reservation Automation • Analytics

  14. Finance Shared Services at MGM (cont.) • Risks (from management’s perspective) • Talent management and retention • Distance from source of transaction • Leveraged model (with controls, costs, etc.) • Reliance on systems

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