By Stewart Clements, Michael Donnellan, Cedric Read
Many CFOs have led their businesses to take a position in ERP and shared prone with a view to create leaner, extra international association buildings. at the present time, they search extra radical transformation via company method outsourcing (BPO). CFO Insights is a realistic, complete consultant to this interesting, fast-growing box. It gains specialist recommendation from the CFOs of significant businesses world wide, together with BP, Procter & Gamble, Dell, and Exel. step-by-step, it takes you thru the levels of a winning outsourcing answer - from comparing companies and contracting, via transition making plans and chance administration.
“We have noticeable expense savings each year for every of the thirteen years of our outsourcing event – now, ultimately, we're seeing the outsourcing marketplace mature. The development of multi-client facilities will create new price. As new not pricey facilities spring up all over the world i need to have quick access to the opportunities.”
—Ala n Eilles, CFO Downstream, BP
“Outsourcing isn't really approximately sitting nonetheless. at the one hand, as CFO, you need to be up to the mark, and feature the ideal keep an eye on mechanisms in position. at the different, this is often an evolving courting the place either events suppose empowered and energized to make a true distinction within the business.”
—John Coghlan, team Finance Director of Exel
“My view of the CFO’s function is comparatively uncomplicated: How do you upload worth? The CFO needs to be within the vanguard in knowing, at a strategic point, the relative economics of other elements of the company version – and vitally play a decisive position in figuring out what may be insourced and what could be outsourced.”
—Clayton Daley, CFO, Procter & Gamble
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Extra resources for CFO Insights: Achieving High Performance Through Finance Business Process Outsourcing
An Accenture report developed in collaboration with the Economist Intelligence Unit, Outside Upside: Finding focus through ﬁnance outsourcing, draws these main conclusions: • Finance outsourcing is gathering momentum: Of the survey respondents, 71% expect ﬁ nance outsourcing to increase over the next three years, 30% are currently outsourcing their F&A function – and a majority of these think the arrangement has been very successful (8%) or successful (57%). indd 18 02/04/2004, 11:57:48 Outsourcing: Who is Doing What?
This evolutionary approach is aimed at picking the low-hanging fruit ﬁrst – activities with relatively low risk – for example, procurement savings in stationery of 30% of spend are already being achieved. We are starting with the UK and working through, country by country. ’ The outsourcer on this contract is incentivized for a basic service level with a base fee, supplemented with a success fee based on savings achieved. A scorecard monitoring key performance indicators (KPIs) monthly has been developed to manage the contract as a whole; quarterly contract performance reviews are carried out during the year.
High-performance companies are also extremely effective at managing paradoxes. They know how to balance seemingly contradictory values: present and future strategic agendas… lean, ﬂexible workforces and employee loyalty … globally driven change imperatives and local empowerment … aggressive new market entry and highly disciplined risk management. And successful businesses know how to harness technology and invest with a focus on long-term success, not just short-term cost maximization. 1. indd 38 02/04/2004, 09:44:29 What is a ‘High-performance’ Company?
CFO Insights: Achieving High Performance Through Finance Business Process Outsourcing by Stewart Clements, Michael Donnellan, Cedric Read