Verizon, Shared, Services, Organization

Verizon has best new shared services organization

Verizon Services Corp. -- which provides financial, real estate and other functional services to all Verizon business groups and corporate departments -- has been named the 2007 Best New Shared Services Organization by the Shared Services and Outsourcing Network.

"Being recognized for our first-year achievements by a panel of outside experts is a tremendous honor," said Dan Mead, Verizon Services president. "It confirms that the great work and outstanding results delivered by our 11,000 employees are creating value for Verizon and its shareholders."

Created in October 2005, Verizon Services Corp. oversees more than $33 billion in purchasing, processes $144 billion in financial transactions, manages 169 million square feet of real estate, and operates more than 700 IT systems across Verizon.

"Our initiatives are standardizing operations, leveraging our scale, eliminating duplicate functions, and implementing best practices," said John Comisky, vice president of the Verizon Services Program Management Office, who accepted the award for Verizon Services at the Shared Services and Outsourcing Network's excellence awards ceremony, held recently in Orlando, Fla.