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ANZ: Asia Pacific Shared Services Center of Excellence for Finance and Accounting

ANZ Asia Pacific Shared Services Center of Excellence for Finance and Accounting Functions...Accenture


ANZ is an international banking and financial services organization based in Melbourne, Australia. Among the world’s leading banks and positioning to be the leading regional bank in Asia Pacific, it has operations across 32 countries and serves approximately 8 million customers. ANZ employs 48,000 people worldwide and manages assets of approximately AUD$600 billion.

In 2010 ANZ sought a company who could team with it on a journey to build a world-class capability to deliver its record to report finance and accounting function. The bank wanted to standardize process and technology to enable greater visibility and control, and ultimately create a more mature decision making and reporting platform for its business. Inherent in this new service-based operating model was the need for standardization, increased productivity and reduced operational spend – all at speed and scale.


Accenture built a world-class shared services capability for ANZ, allowing the bank to consolidate its finance and accounting functions. Accenture’s flexible commercial construct facilitated the rapid deployment of these services and the delivery of the broad-scope finance transformation required by ANZ.

There were three critical phases to this engagement:

  1. Transition and stabilization involved the ‘Lift & Shift’ of existing processes to ANZ captive sites offshore and the deployment of a Global Process Ownership (GPO) governance model;

  2. Refine and improve built an understanding of the existing capacity/resource model and the changes needed to create best practice processes. The required Continuous Improvement Process (CIP) initiatives were outlined and a control and governance framework was built. Knowledge transfer to ANZ resources was delivered.

  3. Drive world-class performance as a COE (Centre of Excellence) With the foundations in place the operating model was transformed to be more process-centric. CIP was implemented and process improvement initiatives rolled out to deliver both cost savings and uplift in capability. Business insight and analytics capability were developed.

    Accenture provided this service via a hybrid model, aligning to the bank’s strategic direction. The result is that at the end of the engagement, ownership of the shared services reverts to ANZ Bank.


The finance shared services COE now delivers high-end record to report accounting and finance processes supporting the majority of the divisions within ANZ bank. This provides statutory and regulatory reporting for the bank, enabling them to adhere to the stringent requirements of the financial services regulatory authorities across the region. The Manila and Bengaluru hubs began providing Finance shared services to Australia, New Zealand, Hong Kong and Singapore in 2011, and expansion to the bank’s other regional and international operations followed.

The core value delivered to ANZ is the result of speed to competence. This has facilitated a pace of transition that is difficult to achieve without a skilled collaborator. Deployment of Accenture’s GPO model to drive the transformation agenda has enabled acceleration of delivery and secured bottom-line savings in accordance with the targets set by the ANZ business plan. Accenture’s flexible commercial construct has not only enabled the transition to occur faster, but also to proceed with a reduced risk profile.

ANZ has enjoyed significant and tangible benefits in a short time as a result of the Finance shared services COE. These include greater efficiency, ability to grow and improved customer service:

  • Standardization and improvement of internal services and governance structure;

  • Increased efficiencies and cost savings across core back office functions;

  • Incorporation and adherence to compliance requirements of the financial services regulatory authorities across Asia; and

  • An industrialized mobilization capability enabling the bank to scale their services to incorporate new functions and geographies as they grow.