Financial Shared Services

Financial Shared Services

Empirical has assisted organizations that provide financial, contracting, and other shared services to improve adoption and customer satisfaction with the services and systems offered, as well as supported the analysis of direct and indirect costs so agencies can charge appropriate fees and maintain a break-even balance.

Many CFOs have indicated they currently use or plan to use financial shared services. Efforts to promote greater use of these shared services have resulted in some cost savings and efficiency gains for agencies. However, financial shared service organizations still face many challenges impeding widespread adoption, including implementation weaknesses, inefficient systems, and ineffective cost management. With Empirical’s expertise in financial management, accounting, finance ERPs / systems, and Federal financial reporting regulations, our team can help organizations to improve services and customer satisfaction, as well as better manage costs.

Empirical supported four DHS components with financial management and accounting operations in connection with ICE’s responsibilities as a shared financial resource for the Directorate of Management Operations, Cybersecurity and Infrastructure Security Agency, Office of Health Affairs, and Science & Technology Directorate (S&T). Empirical has also supported HHS Program Support Center (PSC), a shared service organization offering more than 40 services and products support in crucial business areas, including financial management and acquisitions.