How do you benchmark and learn from other shared services organizations in your industry or sector?

3 Analyze the gaps and best practices

Once you have the benchmarking data, you need to analyze it and identify the gaps and best practices that can help you improve your performance. You should compare your KPIs and SLAs with those of the best-in-class SSOs in your peer group, and see where you stand in terms of efficiency, quality, cost, innovation, and customer satisfaction. You should also look for the best practices that explain the superior performance of the top performers, such as process standardization, automation, digitization, talent management, governance, or customer feedback.

4 Implement and monitor the improvement actions

Benchmarking and learning from other SSOs is not enough if you don't implement and monitor the improvement actions that you have identified. You need to prioritize the actions based on their impact, feasibility, and alignment with your strategic goals. You also need to assign clear roles and responsibilities, allocate adequate resources, and communicate the expected benefits and changes to your stakeholders. Moreover, you need to track the progress and results of your improvement actions, and adjust them as needed based on the feedback and data.

5 Repeat and update the benchmarking cycle

Benchmarking and learning from other SSOs is not a one-time activity, but a continuous process that requires regular updates and revisions. You should repeat the benchmarking cycle at least once a year, or more frequently if there are significant changes in your internal or external environment. You should also update your benchmarking goals, scope, sources, and metrics to reflect your current situation and challenges. By doing so, you will ensure that you stay relevant and competitive in the dynamic and evolving shared services landscape.