What should companies be considering as they move towards outsourcing finance and accounting (F&A) activities? How can they achieve their strategic goals and maximize the benefits, while defusing the risks?
Accenture’s report, “Outside Upside: Finding Focus through Finance Outsourcing,” written in cooperation with the Economist Intelligence Unit, addresses these issues. Based on an online survey and one-to-one interviews with senior executives, the study yields rich comment and original findings. F&A outsourcing, it reveals, offers benefits ranging from cost savings right through to providing the impetus for far-reaching strategic change. Yet, alarmingly, the vast majority of companies have no metrics in place to measure the success of their outsourcing arrangements.
Reinforcing the need for tight controls, the study also features an in-depth case study from Thomas Cook UK who, as a result of a unique co-sourcing agreement, has improved operations, reduced its cost base by £75 million (30 percent), and increased profitability.
In setting out guidelines for implementing a successful F&A outsourcing strategy, the report reveals how to maximize the opportunities while reducing the risks.
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