2024 Public Sector Perspectives

S upranationals, just like other private and public sector organizations around the world, face an increasingly challenging economic landscape, with rising costs and budgets that are under pressure. As a result, finance and treasury departments at multilateral development banks (MDBs) and other supranational entities are looking for ways to reduce expenses, improve efficiency and enhance controls in order to better deliver on their missions. Two strategies that have the potential to generate significant results, while also improving operational performance, are the adoption of shared service centers (SSCs) and digitization, which often go hand in hand. While SSCs have been used by multinational corporates for decades – as well as a handful of the largest supranationals – interest in the benefits they can deliver is now growing among a wider range of supranational entities. Similarly, falling costs – and the increased digitization of our daily lives – mean that many supranationals are now looking to technology in order to streamline working practices, cut costs and improve risk management. Supranationals: Shared Service Centers and Digitization Can Be Transformational Kasra Sharif Public Sector Group, Corporate Banking John Finnigan Global Head of Development Organizations Dustin Ling Multilateral Development Banks, Public Sector Banking Citi Perspectives for the Public Sector 43 Two strategies that have the potential to generate significant results, while also improving operational performance, are the adoption of shared service centers (SSCs) and digitization, which often go hand in hand. 42 Supranationals: Shared Service Centers and Digitization Can Be Transformational