2018 salaries for accountancy in shared services - accounts payable, accounts receivable and tax by years' experience in Dublin, Cork, Limerick, Waterford and Galway.
Ireland continues to remain a favourable location for organisations to establish shared service centres as it continues to beat lower cost locations given the footprint of successful shared service centres operating here.
Throughout the last decade, for many finance professionals the shared services sector has provided enticing career development opportunities and exposure to international markets. This is still the case in 2018 and now a natural evolution in the shared services sector brings new opportunities to challenge finance professionals. Many established shared services are evolving into global business solution centres offering a diverse range of value added services, thus becoming centres of excellence and blueprints for future shared services.
The demand for qualified finance professionals with shared services or business solutions experience remained strong throughout 2017. This will continue in 2018 and individuals with process improvement, business migration, knowledge transfer, ERP systems implementation experience will be highly sought after. In addition, qualified finance professionals with experience of building teams, performance management and people development have been in high demand in 2017. As a result of this, we predict salaries to increase by between 5-10% in this area to attract experienced leaders.
Like many organisations, the greatest asset in the shared services sector is their people and given the increase in demand for these individuals, some shared services have implemented employee engagement and talent retention initiatives during 2017 along with maintaining competitive salary packages. The greatest increase in salaries in the shared services sector has been within the startup centres as they focus on attracting experienced talent. The fast pace and commitment level associated with startups has weighted in favour of increasing salaries to attract experienced professionals and in some cases they have been able to offer 5-10% salary increases.
The future of shared services will see more technology automation with AI and robotics having an influence on the sector. We also anticipate many shared services winning value added activities for Irish sites to secure a long term investment in Ireland.