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Why Don't All Companies Enjoy the Same Savings from Outsourcing Finance and Accounting?
Even though cost reduction from labor arbitrage is a common factor in almost all FAO transactions, companies report widely different results from their outsourcing efforts. Why? Paul Nowacki explains what companies have to do to maximize the value FAO can generate.
Increasing Regulatory Requirements Create a Stronger Case for F&A Outsourcing
Regulatory requirements are a way of life for CFOs. Paul Nowacki and Sonal Singla argue the primary challenge for CFOs today is NOT in meeting the current laws but rather in developing the agility required to efficiently respond to future requirements. Outsourcing is a good way to gain that agility.
Financial Institutions Ratchet Up Their ITO Decisions
Market trends suggest the philosophy on information technology outsourcing spending decisions is changing within the financial institutions sector. Here's why.
Global Sourcing Changes the Way CFOs Think about Sourcing F&A Services
Since 2004, almost all third-party outsourcing contracts included an offshore component. Today buyers want to know how to maximize the rewards and minimize the risks. Paul Nowacki and Sonal Singla address those questions.
SourceNet's Leon Busch Paints the F&A Landscape and Describes Why It's Good to Specialize
What happens when a venerable supplier buys an enterprising, entrepreneurial one? CEO Leon Busch discusses the strategy behind Mellon's acquisition.
No Need to Change Systems When Outsourcing F&A Processes
What happens to your F∓A system when you outsource? Only eight percent have transferred ownership of systems to suppliers. Is this a good idea? Paul Nowacki and Sonal Singla discuss the pros and cons.
FAO Suppliers: Clouds Will Darken Today's Bright Future. Get Ready!
Currently FAO suppliers are enjoying enviable growth. But will it continue? Paul Nowacki thinks not, at least not in same way. He discusses what the coming changes mean for both buyers and suppliers.
Why Finance And Accounting Outsourcing Will Experience Double Digit Growth
Paul Nowaki and Nikhil Rajpal explain the five reasons driving this growth and discuss what it means for both buyers and suppliers.
The 2006 Finance and Accounting Forecast
We'll see new players in the FAO space next year. There should be more contract signings. Buyers will move up the F&A mountain, adding more processes to the mix. Here's our scan of the landscape.
Everest Research Institute's 2005 FAO Report: Growth, Offshore Key Findings
The Everest Research Institute just released its FAO report. Read how multiple process FAO is experiencing a growth spurt, why offshoring has become an integral part of today's FAO, and how IBM and Accenture have cornered the market.
Manufacturer Saves 30 Percent of Air Ticket Costs Using Travelocity Business
Before it outsourced, the accounting department of a large manufacturer saw many airplane tickets over $1,000. Today the average ticket price is $320 after outsourcing ticket procurement to Travelocity Business.
Do Companies Lose or Improve Controls When They Outsource Financial Processes?
A new study from Accenture and The Economist discovered outsourcing and effective governance can co-exist. In fact, 43 percent reported outsourcing raised the quality of governance and compliance for financial processes at their organizations.
Archstone Consulting/Duke University Offshoring Study: Respondents Reported 30 Percent Annual Savings
How much money do companies really save offshoring? This new study answers that question scientifically: 63 percent saved more than 30 percent and 14 percent banked more than 50 percent.
What to Expect This Year in the Leading BPO Processes
Here's a sneak peak at new developments in human resources, finance and accounting, customer relationship management, and procurement and global trade management outsourcing. 2005 promises to be a busy year for BPO.
Why the US and UK Are Calling on South African Call Centers
Datamonitor says India will continue to have the lion's share of the call center market for the foreseeable future. But higher value transactions are going to South Africa. Read why.
Ninety Percent of Senior Finance Executives Find Outsourcing Successful According to Surveys
More than 90 percent of financial executives labeled their outsourcing successful. But the big surprise was that cost savings are neither the primary motivation to outsource nor the biggest benefit perceived. At the end of the day, it's all about customer satisfaction.
Outsourcing Real Estate Audits Saves Retailers Real Money
Real estate costs typically are the second biggest overhead expense after payroll. Outsourcing the lease audit function can save money and even save the business.
SG&A Expenses Best Outsourcing Opportunity for Utilities
The recent $3.5 billion transaction between TXU and Capgemini is a poster child for the growth in investor-owned utility outsourcing. Rahul Gujral explains where to look for the best savings opportunities.
Leaping Tall Buildings and Other Heroic Challenges While Achieving Sustainable Savings in Procurement
Adopting an aggressive sourcing strategy wrings out cost initially. But these costs aren't sustainable if you don't change your procurement process. Knut Meyer explains how to permanently fix the problem.
How Mature Are Offshore ITO and BPO Offerings?
The answer to that question is a factor in the decision to offshore. Stephen Dunn explains why it's a good time to begin pilots or adopt a fast-follower strategy.
Like Sitting Ducks--Two Failure-Prone Outsourcing Models
An Outsourcing Center survey found a significant correlation between root causes of failure and two increasingly popular approaches to outsourcing.
Outsourcing Conveniently Aligns Retailer's Operations with Competitive Business Strategies
When retail giant 7-Eleven began outsourcing its IT functions to ACS, efficiencies and costs were the drivers. When the company's objections changed to include business transformation, it tapped ACS for the additional scope because of its partnership attitude.
Business Process Outsourcing Under Sarbanes-Oxley: Challenges and Complexities
You've outsourced finance and accounting functions. But the Sarbanes-Oxley Act says management is responsible for the veracity of the numbers. How do both parties stay clear of the dreaded 404 provision, which guarantees three squares at Club Fed? Attorneys Robert Gareis and Michael Mensik of Baker & McKenzie share some thoughts.
HR Outsourcing Becomes a Business
Diana Robinson led AT&T's HR outsourcing effort. Then she joined Aon, the provider of the services she used to buy. She tells what it's like wearing both hats.
Finance & Accounting Outsourcing Picks Up Speed as
Suppliers Offer Wider Value
A new Everest study reveals some surprising things about finance and accounting outsourcing. Today nearly half the transactions are full service in scope. And two suppliers have taken an early lead.
Cutting Costs Still Critical in Finance and Accounting, But Business Transformation Looms
2003 was a watershed year for finance and accounting outsourcing. Work went
offshore to save money and open new markets. And some buyers outsourced more
than just their transaction work. Here's an account of what happened.
Part 1: A Diamond In The Rough: The Current Economy Encourages A Close Look At Procurement Outsourcing
Procurement outsourcing is a strategic decision requiring serious consideration.
In Part 1 of a three-part series, Tracey Hinkle of EDS discusses the key
points to ponder.
Accenture Study: Buyers Now Using F&A Outsourcing for Strategic Change as Well as Cost Cutting
Seventy-one percent of corporate executives say their demand for finance and accounting outsourcing is increasing, according to a new Accenture study. Cost pressures are the reason.
Real Estate Firm Makes Better Investments By Outsourcing Accounting
Jimmy Hanson wanted to invite institutional investors to invest in his real estate management company. But he needed to revamp his accounting systems to meet their reporting needs. DTO's real estate division solved his problem.
Outsourcing Disaster Relief
After 9/ll, people from all over the world sent contributions to the Twin Towers Fund to help the families of the fallen. Outsourcing was the fastest way to handle non-core aspects of disaster relief. OPI, a Manhattan-based service provider, volunteered to provide the fund's accounting.
Finance and Accounting BPO Adds Up to Business Transformation
Finance and accounting outsourcing has gone beyond transaction processing to enter the realm of business transformation. Today, chief financial officers require data to help them make better financial decision.
East Meets West Up Close
and Personal: Shinsei Bank's Reincarnation
Facing mountainous bad debts and a failing national economy, Japan's banking sector and its government seek strategies to save the banks from closure. But Shinsei Bank has already found the path to success. Due to adopting western-style management concepts, and using outsourcing, it entered a new market at one-third the time and one-tenth the cost of its competitors and has profit for moving forward.
Finance and Accounting
Outsourcing Set To Explode as Stable Service Provider Base Develops
Peter Bendor-Samuel says finance and accounting outsourcing is "exploding." Read why in our continuing series on "Outsourcing the Enterprise."
Building a Case for BPO: Why haven't companies recognized the value proposition?
Damon Rosenhan says BPO is set "to change the face of business as we know it." In his view, people are core, not HR administration. And in finance and accounting, how can balancing the books be a core competency when the company makes widgets? He begins a three part series tiled "Building a Case for BPO."
Building a Case for BPO - Part 2
Here's everything you wanted to know but didn't know who to ask about procuring BPO in the brave new world of enterprise outsourcing.
How to Select an Alliance
Partner: The Choice Depends on the Desired Outcomes
A property and casualty insurance company wanted to enter the financial
services fray and service its high end clients. And it was in a hurry,
since the baby boomers are focusing on their retirement years now. Outsourcing
this potentially risky new area brought big rewards to both supplier and
buyer.
Financial Institution Outsourcing:
Managing the Risks
In the Bible, Cain insisted he was not responsible for his brother's actions.
That's not true if you are a financial institution. Banks, savings and
loans and credit unions are still responsible for the actions of their
service providers. Two attorneys at Baker and McKenzie tell financial
institutions how to protect their interests when they outsource.
Outsourcing Allows British
Banks to Checking Out of Check Processing
Two big banks in England needed to upgrade their check clearing operations.
But they didn't want to invest in the process due to falling volumes.
Outsourcing helped them gain access to new technology as well as lower
costs.
BPO Cuts Moving Costs,
Cures Headache for Dry Cleaner
National Dry Cleaning acquired 13 companies using 12 accounting systems.
Outsourcing the back office reduced that number to one.
Finance and Accounting Outsourcing:
David Narrow Charts the Future
Companies know that there is a next level of speed, ease of use and cost
savings that must occur for them to remain competitive.
Mt. Sinai Foundation
Sees Outsourcing Written In Stone
A finance and accounting supplier that is also an IT expert helped the
Mt. Sinai Foundation standardize its financial system. Learn how the new
breed of BPO supplier works.
Outsourcing Payroll
Check Printing Pays Off
Outsourcing the printing of payroll checks can be worrisome if there's
a glitch. But the terrorist bombings proved there's nothing to worry about.
People were paid even when the planes were grounded.
What to Do When You
Can't Find The Right Supplier
You can't find a BPO supplier for your process. Here are four ways to
create one to meet your needs.
Artfully Outsourcing Art
Leasing art is now
a new way to test drive expensive paintings.
ASP Adds BPO Offerings for Vertical Markets
The recipe for success for a BPO is applying technology to a business
process.
ASP Calling
PTEK offers options to provide unified
communications to businesspeople who travel extensively.
Banking on Continued Growth
Caja de Ahorros
y Pensiones de Barcelona is the largest savings and loan in Europe, but
wanted to grow even
Bottom Lines Online
The Internet has radically
altered how accountants interact with clients.
High Tech By The Numbers
The Berry Group has
a network of experts who specialize in IRS tax abatement procedures or
offer and compromise negotiations.
Impact on Growth
The impact of Unisys
on the growth of First Travelcorp
Jumping Into E-Commerce With LeapSource
Companies with older, legacy mainframes by definition have to radically
change the way they operate.
Leaping at the Chance
GTCR Golder Rauner LLC,
a Chicago venture capital firm, was searching for a seasoned management
team to start a new BPO firm.
Making PeopleSoft PeopleFriendly
Transchannel
frees companies from the daily headaches of managing complex ERP programs
and lets them focus on their core businesses.
Of Equal Stature
BPAmoco recognized that its
accounting and transaction functions are not part of their core skills,
but only an outsourcer of equal stature would be able to supply their
needs.
The Realities Of A Virtual Accountant
Accounting is one area where corporate funds can be better utilized in
more strategic areas.
Will BPOs Need To Become ASPs?
Will BPO providers
have to become Application Service Providers (ASP) to compete in today's
connected world?
Argosy Casinos Hit the Jackpot
Dale Black
of Argosy Casinos discusses the company's best-in-class relationship with
Arthur Andersen.
Big ERP Solutions for Mid-Market Companies
Walter
Lazuka of CorpCare discusses how mid-market companies can get top of the
line ERP applications without overhead costs.
BPO's Breakthrough Moment
A Reflection on
the Recent PwC-BP Amoco Transaction
British Petroleum Keeps Strategic Focus
PricewaterhouseCoopers and British Petroleum. This relationship offers a highly successful
example of BPO value.
Changing the Way the Travel Industry Does Business
Unisys' back office accounting solutions are doing wonders for the travel
agency industry.
Launching a Center of Competence
Trying to
compete in the global marketplace, the Bank of Montreal decided to build
a center of competence.
Moving Through Europe With Dual Force
Jacky
Ross of TASCO talks about the formation of her company and its implications
in the European market.
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