The Current State of Multinationals’ Global Statutory Reporting Process Survey

Question Title

* 2. Where does your shared service centre (SSC) operate?

North America

Central and Latin America

Central and Eastern Europe

Western Europe

Middle East and Africa

Asia

Australia and New Zealand

We don’t currently have an SSC

Question Title

* 3. Which geographies does your SSC serve (i.e., from your location)?

In-country

Regional

Global

We don’t currently have an SSC

Question Title

* 4. What is your current service delivery approach for statutory reporting?

We use local/country finance teams for the whole process

We use our SSC for preparation and in-country team for review

We use our SSC for the whole process

We outsource the statutory reporting process to a platform provider/consultant

Question Title

* 5. What are the most important benefits of shared services to your enterprise?

Control/standardisation/optimisation

Cost and time

Scaling and agility

Customer service

Leveraging competencies around data analytics and process automation

Improving enterprise-wide decision support/business problem-solving

Innovation

Platform integration

Driving top line revenue growth/profitability

We don’t currently have an SSC

Question Title

* 6. Which services does your SSC provide?

Finance & Accounting

Data analytics

Intelligent automation

Payroll

Procurement

Learning and development (L&D) administration

Supply chain

Statutory reporting

FP&A

Front-office support

Sales and marketing

Real estate and facilities management

We don’t currently have an SSC

Other (please specify)

Question Title

* 7. If you use an SSC for statutory reporting, how long has this strategy been in place?

Planning stage

0–3 years

4–6 years

7–10 years

10+ years

We do not use an SSC for statutory reporting

Question Title

* 8. Is your SSC run as:

Cost centre

Profit centre

100% allocation

We don’t currently have an SSC

Other (please specify)

Question Title

* 9. What are the three most significant areas of change for your SSC in the near future?

Increased use of automation

Increased use of data analytics

Expansion of geographical coverage

Expansion of processes covered

Shift from transactional to knowledge-based activity

We don’t currently have an SSC

Other (please specify)

Question Title

* 10. Are you planning to expand the scope of your SSC over the next 12 months?

Yes, adding new service offerings

Yes, expanding geographic reach (countries/regions)

Yes, expanding geography AND service offerings

No, we are staying the same

No, we are reducing service offerings and/or geography

We don’t currently have an SSC

Other (please specify)

Question Title

* 11. How do you evaluate potential SSC locations?

Skills/expertise

Labour cost

Language

Cost of overhead operations

Risk (economic/political/natural disasters)

Understanding of regulatory environment/legal compliance

Proximity to key business units

Proximity to HQ

Local government incentives

Tax environment

Flight/travel connectivity

We don’t currently have an SSC

Other (please specify)

Question Title

* 12. What are the most significant statutory accounting challenges for your organisation (select all that apply):

Inconsistencies between parent and subsidiaries’ data and disclosures

Implementing new IFRS standards

Ensuring seamless workflow production, review/sign-off, and audit between internal/external stakeholders

Tracking and oversight of reporting processes

Data and security management

Incorporating electronic filing requirements into the financial statement production process

Other (please specify)

Question Title

* 13. What are the top statutory accounting priorities for your organisation (select all that apply):

Shortening reporting timelines

Improving collaboration across internal and external stakeholders

Keeping up with regulatory changes

Maintaining integrity between transactions systems and financial statements

Global process transformation

Service-level agreement obligations (internal or external)

Talent management and retention

Other (please specify)

Question Title

* 14. Has your company’s adoption of cloud technologies for legal entity reporting accelerated in the past 12 months?

Yes, significantly

Yes, but only a little

No, nothing has changed

No, we already moved to the cloud

Question Title

* 15. How automated and standardised would you say your statutory reporting process is today?

Our process is fully automated - we have direct links from source files to final outputs, and updates to source data flow through automatically

Partial automation exists - source files are linked but they require maintenance and any updates after the initial transfer are done manually

Limited automation - we use templates, but they’re not linked to source files and both source files and template updates are completed manually

No automation - gathering and adding source data to spreadsheets and subsequent updates to data and narrative in the reports are all manual tasks

Question Title

* 16. How repeatable would you say your statutory reporting process is currently?

Our process is easily repeatable by others with minimal training and without an increased chance of error

Our process can be repeated through multiple resources, with a small increase in time spent

Our process is repeatable through multiple resources, with an increase in time and a greater chance of error

Our process is repeatable only by the owner - if the owner is absent, we have significant issues and significant training is required to replicate

Question Title

* 17. What drives your adoption of cloud-based technologies?

Ability to scale

Agility

Cost

Real-time updates

Data security

Flexible access

N/A, No use of cloud, I don’t know

Other (please specify)

Question Title

* 18. If you use a third-party software/technology for regulatory reporting requirements, please list it:

Question Title

* 19. In your opinion, what, if any, has been the primary long-term impact of the COVID-19 pandemic on your statutory reporting process? (Write your response.)

Question Title

* 20. Would you be interested in a demo of SSON Analytics' Data Resource, covering comparative location data such as talent availability, number of SSCs/BPOs, cost of center operations, and salary data; along with benchmarking and metrics?

Yes (please enter your email address below)

Question Title

* 21. Are you interested in learning about a brand new professional GBS training and certification program?

Yes (please enter your email address below)

The Current State of Multinationals’ Global Statutory Reporting Process

Thanks for taking this survey!

Question Title

* 1. My organisation has the following number of entities:

Question Title

* 2. Where does your shared service centre (SSC) operate?

Question Title

* 3. Which geographies does your SSC serve (i.e., from your location)?

Question Title

* 4. What is your current service delivery approach for statutory reporting?

Question Title

* 5. What are the most important benefits of shared services to your enterprise?

Question Title

* 6. Which services does your SSC provide?

Question Title

* 7. If you use an SSC for statutory reporting, how long has this strategy been in place?

Question Title

* 8. Is your SSC run as:

Question Title

* 9. What are the three most significant areas of change for your SSC in the near future?

Question Title

* 10. Are you planning to expand the scope of your SSC over the next 12 months?

Question Title

* 11. How do you evaluate potential SSC locations?

Question Title

* 12. What are the most significant statutory accounting challenges for your organisation (select all that apply):

Question Title

* 13. What are the top statutory accounting priorities for your organisation (select all that apply):

Question Title

* 14. Has your company’s adoption of cloud technologies for legal entity reporting accelerated in the past 12 months?

Question Title

* 15. How automated and standardised would you say your statutory reporting process is today?

Question Title

* 16. How repeatable would you say your statutory reporting process is currently?

Question Title

* 17. What drives your adoption of cloud-based technologies?

Question Title

* 18. If you use a third-party software/technology for regulatory reporting requirements, please list it:

Question Title

* 19. In your opinion, what, if any, has been the primary long-term impact of the COVID-19 pandemic on your statutory reporting process? (Write your response.)

Question Title

* 20. Would you be interested in a demo of SSON Analytics' Data Resource, covering comparative location data such as talent availability, number of SSCs/BPOs, cost of center operations, and salary data; along with benchmarking and metrics?

Question Title

* 21. Are you interested in learning about a brand new professional ﻿GBS training and certification program?

* 21. Are you interested in learning about a brand new professional GBS training and certification program?