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Veratics Shared Services Solution for County-Wide, Inter-Municipal Sharing

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VERATICS Shared Services Platform- Shared Services Made Easy

With the Veratics Shared Services Marketplace Platform, the Government is able to more efficiently manage and fully utilize its resources and staffing, reducing carry inventory and operational costs. Our tailored marketplace enables Government staff to lease and trade equipment, reuse or repurpose items, loan staff, consolidate operations, and increase buying power with cooperative procurements.

Overview

State and county governments seek methods to reduce the government’s tax burden on its citizens.  For example - In New York state - Governor Cuomo’s 2017 County-Wide Shared Services property tax savings plan Initiative is leading the way in mandating operational efficiency in local governments. Some states are incentivizing Shared Service Initiatives (SSI) through state matched funds to support Government reorganization and efficiency programs that lead to taxpayer savings.

One growing trend that is dramatically cutting overhead costs while generating revenue, is the sharing and pooling of resources to reduce cost of ownership and to generate economies of scale. With the help of advanced technologies, sharing and pooling resources has never been easier. In this paper, we will address a proven method to stand-up a rapid Shared Services Marketplace that can save Millions of taxpayer dollars.

VERATICS SHARED SERVICES PLATFORM – OVERVIEW

While many Governments desire to save taxpayer dollars, few are successful using traditional methods. Sharing resources across many organizations requires technology that can timely track resources and their availability. Veratics delivers a combination of processes and technologies that enable sharing on a large scale.

The Veratics Shared Services Marketplace Platform provides three primary functions that enable operational efficiency:

  1. Transactional efficiency
  2. Resource organization, improved utilization, and control
  3. Improved buying power

The Veratics Shared Services Platform provides an optimal Shared Services Intelligent interface to increase collaboration, improve information sharing, improve services and product availability while reducing operating costs and tax reductions across the enterprise or public sector. Shared service initiatives are growing in popularity with governments and large corporate enterprises saving significant costs through shared service offerings, pooling of equipment, resource sharing, software reuse, shared staffing, and non-core mission critical services sharing. Many organizations are reducing their overhead cost centers by 30% or more through strategic planning and applying automated shared services.

We have subdivided the Shared Services technology approach into four primary areas: 1) Shared Services Marketplace, 2) Share Talk Forum, 3) Spotlight Reporting, and 4) Cooperative Procurement. We will discuss each section shown on the dashboard (following page) and how each delivers operational efficiency.

Transactional efficiency, resource organization and utilization are realized through the Shared Services Marketplace. Improved buying power is realized through Cooperative Procurements. Spotlight Reporting and Share Talk Forum improves communication, collaboration, transparency, and engagement between Government staff and the county’s citizens.

SHARED SERVICES MARKETPLACE

Marketplace automation has a profound effect on the bottom line, dramatically improving transactional efficiency.  Improving operations has a more profound effect on an organization’s bottom line than increasing revenue. The importance of cutting overhead costs was discovered in the commercial sector that realized how reducing costs is more important than growing revenue, all else equal. The revenue equivalency formula demonstrates this phenomenon - that cutting costs has a much more dramatic effect than on increasing revenues. The following formula shows why organizations have been working on shared services optimization for the past 30+ years, because it works:

Savings ÷ Profit Margin = Revenue

So, for example:

$100,000 in cost savings ÷ 8% in profit = $1,250,000 equivalent in Increased Revenue

This equation shows the relationship between operational efficiency and revenue. An organization that cuts $100,000 goes directly to the bottom line that would take $1.25M in revenue to equal a 12.5 times reduction in overhead.

Shared Services Platform

Vertics Shared Services Platform – Reduce Costs Today

For government implementations, idle resources like heavy equipment, i.e., tractor, snow plow, sump pumps, can be leased for payment through a marketplace implementation generating revenue while saving the other municipalities a reduction over commercial leases. The new profit can then be applied to cut taxes or applied to new initiatives like affordable housing or other deferred projects. Through the use of the online marketplace, Governments can analyze and enact measures to cut costs.

Shared Services Marketplace: Each municipality and department have a storefront where they can lease or sell excess resources in an open marketplace, thereby capitalizing on idle resources, creating a win-win for both the lessor and lessee.

RESOURCE ORGANIZATION

One of the primary benefits to the Veratics Shared Services Marketplace, is that it creates an ecosystem to organize information, resources, and to collaborate. The outcome of having everything in one spot is that accountability is improved as well as efficiency in locating and assessing the state of resources across the county. Collaboration is a huge benefit with the Share Talk Forum that improves sharing initiatives, where staff can discuss a myriad of topics and resource requests. Staff can begin a bulk buying thread to reduce the cost of a future purchase. An open forum, video and chatroom, and Frequently Asked Questions (FAQ) with a knowledgebase (KB) help with onboarding of new staff or helps share helpful information across a wide variety of topics.

Another important organizational tool is the Document Management System (DMX) that enables multiple editing of a single document and provides workflow routing for signoff between departments.

IMPROVED BUYING POWER

The Veratics Shared Services Platform improves transparency across procurements so that municipalities can piggyback or create an ongoing cooperative procurement. The dashboard makes it easy to search for Inter-municipal Agreements (IMAs) and past contracts. Naturally, Government groups will become Centers of Excellence (CoE) for various contracts and government functions, including services, durable goods and commodities purchases, so that specialization and efficiency can occur as well as improved buying power. One town, for example, may be the CoE for salt purchases and another may be in charge of water treatment, and another may have excess heavy equipment with a local maintenance facility. When the marketplace is configured, each municipality can assess where their excess capacity is and then publish via their marketplace the goods and services available and their asking, i.e., recovery costs.

Transactional Efficiency

A backhoe can easily be leased across the county, through the Veratics Shared Services Marketplace, for example, reimbursing the lessor for its use and maintenance and reducing the costs to the lessee. Inter-Governmental costs are typically well below commercial market prices. This serves a two-part purpose as municipalities may not need to purchase durable goods if they can easily rent them from a neighboring municipality. Same goes for facility space including storage, maintenance facilities, or meeting rooms, all of which can be leased effortlessly through the shopping cart’s automated checkout process. Elastic searching provides advanced predictive searching through the marketplace, making it easy to locate items by entering just a few letters.

Shared Services provides Elastics Search

Shared Services Marketplace: Each municipality and department have a storefront where they can lease or sell excess resources in an open marketplace, thereby capitalizing on idle resources, creating a win-win for both the lessor and lessee.

Automated Shopping Cart

A configured shopping cart automates the lease that links to a pre-signed IMA that stipulates the terms. A KPI metric is associated with the lease such as the savings realized based on the transaction, abandoned shopping carts, average cart size and more. Authorizations can be added to the workflow to ensure the transaction is approved by both lessee and lessor. The automated workflow makes borrowing, leasing, and tracking the transaction effortless. All of this metadata is tracked for ease in automated reporting by department, municipality, or entire county over a given period of time. At the end of the month, municipalities can report and invoice their costs.

Shared Services - Automated Shopping Cart

SHARED SERVICES SUCCESS

A successful Shared Services system starts by building an internal customer experience for the municipal departments being served. The Veratics Shared Services Marketplace Platform is configured to support Shared Services and Cooperative business patterns to reduce overhead and resource/inventory carry-costs through optimizing business operations.

Our Shared Services Platform provides four fundamental components to ensure success:

  • Reliability – Automated process ensures predictable and dependable results
  • Simplification – Making transactions and interactions effortless, reducing steps
  • Insight – Common work areas and dashboards provide real-time connectivity between departments and the customer
  • Digital Communication – Cross-channel collaboration and content organization adds a new communication dimension

Our Shared Services Platform further improves situational awareness connecting municipalities and resources together that leads to enhanced communication, sharing, and engagement by the government and citizens.

Sharing - Doing More with Less

An integrated Shared Services experience seeks to eliminate redundancy, reduce costs, while increasing performance and buying power, particularly in Government Shared Services. Reducing duplicate contracts and consolidating purchases through a single purchasing entity reduces overhead and purchasing costs. For government, shared services will open up new revenue streams, creating “profit centers” through the sharing of idle resources or extra service capacity that results in a revenue stream to help offset the cost of other services or help fund new public initiatives.

Most enterprises shift to a Shared Services model first, without thinking through the connectivity and business rules and workflow requirements. With Veratics Shared Services, a configured out-of-the-box solution provides precise applications and workflow logic, tying roles and responsibilities to outcomes.

ECONOMIES OF SCALE REALIZED

Centralizing functions to improve economies of scale is possible, for example, sharing fleet maintenance, refueling facilities, park services and street and highway maintenance, to name a few. Through centralization, municipalities can outsource their needs to adjacent governments that have additional slack that can be recaptured, saving infrastructure, labor costs, and long-term pension benefits through reduced staff. Many cities and counties already share police forces to provide scaling and reduction in long-term costs to small towns. Many office functions can also be outsourced to more capable municipalities such as Human Resources, Finance, Information Technology and many other areas, as shown in the table “Typical Shared Services in Local Government”.

The Veratics Shared Services platform assists with realizing economies of scale through automating IMAs, service requests, and digital ordering, tracking and case management. The platform also connects people together with chat forums and other communication channels to help municipalities offer up services that can benefit others. Our system is scalable and flexible to centralize operations where it makes sense.

Shared Services - Economies of Scale Realized

Keeping Track of Success

Key Performance Indicators (KPI) “metrics” tracking helps organizations benchmark and create standards for success. After the system is configured, the KPI data is tracked as metadata for each transaction, all of which is viewable in a convenient and easy-to-use dashboard. The tracked data highlights in real-time the visit duration before “purchase”, number of visits before purchase, average order value, and average customer value plus many more. Veratics can build advanced analytics customized to your needs and goals. This built-in accountability is critical to fine tune the Shared Services environment, ensuring maximum benefit and optimal outcomes are achieved over time. The metrics dashboards are easily exportable for internal reporting as well as used for generating external news to share with the citizens. A news spotlight is recommended to broadcast to the citizens the cost reductions gained from enacting the Shared Services Initiative. External communications also delivers transparency and ownership amongst staff to continue to improve services while decreasing costs

Shared Services - KPI Metrics Realized

Veratics Shared Services Platform delivers Optimum Resource Utilization and Cooperative Procurements - Increasing Awareness, Transparency, Organization, and Increased Taxpayer Savings.

VERATICS SHARED SERVICES OPTIMIZATION

Our Shared Services platform coupled with our proven processes and consulting services optimizes and transforms enterprises of all sizes. First, we address the culture of an organization, empowering and clarifying the roles/responsibilities of the “provider (lessor) and customer (lessee)” so that accountability is in place before the technology is configured around that contextual relationship. Then we build in continuous improvements with lean, Agile based methodologies and key metrics to reduce waste, while controlling, monitoring, and measuring the improved process.  Lastly, we integrate the various systems for direct continuity and transparency between financial systems and applications, automating the transaction that increases communication and understanding intuitively between staff. This Shared Services communication approach ensures that the right information is displayed at the right time to the right individual(s). The outcome increases staff engagement by increasing efficiency through removing redundant actions such as reducing email and siloed systems, reducing delays, and eliminating data disorganization while dramatically improving configuration control. Lastly, a time-sensitive system leverages auto-routing, automation, and prioritizations based on the team’s agreed upon parameters.

Typical Shared Services in Local Government

FOUNDATION OF SUCCESS

The Veratics Shared Services Foundation of Success relies on a combination of expert people, processes, tools, and proven technology. This six-step foundation enables Veratics to deliver what our customer’s need. Veratics’ personnel combine full-stack software engineering with domain expertise in eCommerce, document management, transactional automation and integrated enterprise content management systems within a shared services environment. Our team follows strict process standards using an Agile-Scrum framework that helps deliver requirements early while reducing execution risk. Veratics is Capability Maturity Model Integration (CMMI) Level II appraised. 

The Veratics Shared Services Platform is scalable and configurable to accomplish initial and long-term Government cost-cutting goals. Our flexible terms enable implementations to match budget limitations. Our platform will pay for itself and we are willing to share in the risk/reward to keep initial setup and long-term operational costs low.

Our proven, easy-to-use intuitive system reduces the time it takes to train staff during system roll-out. Lastly, our system follows industry best practices in network security and data-at-rest encryption.Veratics Shared Services - Foundation of Success

Veratics Shared Services Platform delivers Optimum Resource Utilization and Cooperative Procurements - Increasing Awareness, Transparency, Organization, and Increased Taxpayer Savings.

CONCLUSION

Veratics has the expertise, technology, and resources to efficiently implement a state-of-the-art Shared Services Marketplace. With a broad range of industry resources and skills, Veratics is responsive and qualified to provide the leadership, staff resources, project management oversight, and exacting government compliance standards to ensure successful outcomes of implementing a successful Shared Services initiative. Based on our experience working on both large government and commercial programs, Veratics is uniquely qualified to execute this future contract, in support of the performance objectives.  

 

ABOUT VERATICS, INC.

Veratics is a leading provider of intelligent enterprise content management systems, spanning shared services solutions to e-commerce systems.

Veratics owns and operates GoVets (https://www.govets.com), the largest online marketplace for veteran owned businesses to sell products and services to government agencies, commercial enterprises, and patriotic citizens. GoVets has over five million products across thousands of brands supporting a community of hundreds of veteran-owned businesses. To learn more, please visit: http://www.veratics.com.

 

Please contact Veratics, Inc (321-432-1365 or SharedServicesSupport@veratics.com) for further requirements questions in support of your important project.

 

 

Veratics Shared Services Solution for County-Wide, Inter-Municipal Sharing

Product Price: $50,000.00

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