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One of our connects Márcio Morelli wrote a wonderful article on F & A Outsourcing.
F&A in a Box Outsourcing
In the last two decades global companies have been outsourcing their finance & accounting (“F&A”) functions in most cases through the use of “lift and shift” strategies. Through lift and shift (as opposed to transform and shift), enterprises outsource their F&A back-office functions before rationalizing and streamlining their existing processes and yet, expect some sort of innovation from the selected vendor.
Over the past 10 years, having interacted extensively with CFO’s and CIO’s of market-leading organizations, we came to realize that the majority of the executives who happened to adopt such outsourcing strategy ended up being misguided by global outsourcing vendors. The reason is that BPO partners tend to pitch on a multi-phased approach where increasing value is captured over the contract life-cycle; however, such approach rarely works because the process innovation so much expected by customers is delayed (and often not delivered) to an undefined point in time during contract term.
Most vendors have unquestionably addressed cost savings expectations, but cost has been losing its importance among the main drivers to outsource.
Process transformation and most recently, platform-driven approach (i.e., pre-built applications and processes, including automation) have become the reference for cutting-edge BPO initiatives. The challenge in achieving above-average results in F&A BPO projects lies in the vendor’s ability to transform customer’s business processes with the purpose of addressing critical business requirements.
In this paper, we share how we see the evolution of F&A BPO services across the globe, and how they should be offered to the market.
Read the full paper at:
You can also download this in a PDF format:
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Mohit, I’m glad you liked it. Tks for sharing.
I am sure our readers will benefit from this….