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Business English Exercises
 

Shared Service Centres

Answers to test questions and links to explanations

Home > Teaching Business English > Business English Lessons, Advanced Level # 300
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shared service centres answer 1
Shared service centres (SSCs) are not a new phenomenon within the financial services industry; indeed they have become an established part of the business process landscape for many large multinationals, says Hugh Davies of Citi.

Correct answer: (a) landscape

Meaning of business term landscape
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shared service centres, question 1 shared service centres, business executive education, what does landscape mean?

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shared service centres answer 2
For corporates, the underlying principle is the pursuit of highly efficient operations and service through re-designing and centralising common processes; if a company has disparate activities across its organisation — combined with multiple bank interfaces — it will have less control and visibility over its operations.

Correct answer: (d) disparate

Meaning of business term disparate
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shared service centres answer 3
This is of particular concern at a time when companies face compliance obligations under regulations such as Sarbanes-Oxley, when they must demonstrate high levels of accountability and transparency throughout the organisation.

Correct answer: (a) compliance

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shared service centres answer 4
There is also the desire among corporates for improved company-wide cost management, as they face increased pressure to obtain extensive cost savings from middle- and back-office operations, as well as better visibility over working capital.

Correct answer: (d) working

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shared service centres answer 5
While greater economies of scale and cost efficiencies are derived from centralised processing, corporate treasurers are taking on an increasingly strategic role within the company.

Correct answer: (d) scale

Meaning of business term scale
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shared service centres answer 6
This is resulting in improved use of information and is ensuring that SSCs are becoming an essential tool that can provide visibility and transparency of actionable information across the company for the creation of value and competitive advantage.

Correct answer: (b) actionable

Meaning of business term actionable
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shared service centres, question 6 shared service centres, business management, what does actionable mean? what is the definition for actionable?

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shared service centres answer 7
Harmonisation of financial infrastructures as a result of the single euro payments area (SEPA) is also an opportunity to rationalise accounts and legal structures, and therefore derive further efficiencies from SSCs.

Correct answer: (b) euro

Meaning of business term euro
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shared service centres answer 8
The SSC platform and the related systems built around it are an excellent way to embed the fundamentals of SEPA and adapt quickly to realise the benefits.

Correct answer: (a) embed

Meaning of business term embed
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shared service centres answer 9
Establishing an SSC and centralising functions does not necessarily mean the removal of traditional payment and collection instruments that are required by local operating companies where supplier and customer relationships are maintained.

Correct answer: (b) instruments

Meaning of business term instruments
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shared service centres answer 10
The rationalisation of banks and systems will lead to the concentration of risk, and in order to mitigate this risk, the standardisation of interfaces and formats is absolutely critical.

Correct answer: (d) mitigate

Meaning of business term mitigate
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Business English Practice Exercises Business English Tests — several topics are covered: office matters, job applications, computer English, money expressions, business law, operations management, retail marketing, e-commerce, accounting terms, contracts and agreements, commercial correspondence, etc.
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