Financial shared services 'delivering expected savings'...

Two thirds of firms which have set up financial shared services have made the savings they expected, a new survey shows.

Research conducted by CFO Europe on behalf of KPMG reveals that the benefits seen by firms implementing such measures include reduced costs, which allow businesses to focus on core revenue generating activities.

However, the study also found that it is vital that the views of clients are taken into account when it comes to shared services.

Daniel Rona, associate partner at KPMG, said: "Unsurprisingly, those organisations that invested in taking customer views seriously and responding appropriately were better placed to provide a high quality service."

The study also found that more than 70 per cent of businesses that already have a financial shared services plan want to expand the system to encompass more complex areas, such as management information and reporting.

Last week, research by IDC found that outsourcing deals in the UK are becoming smaller and more flexible.

It found that the total value of the biggest 100 deals in 2007 was only around a third of the total the previous year.