Key Points
  • Moving transaction processing overseas can achieve significant savings, but organizations can achieve greater value by offshoring strategic financial activities
  • Specialist providers can handle high-level analysis and financial management tasks
  • Combining process improvements with offshoring can create savings of up to 50%
  • To succeed, organizations must make a detailed analysis of the tasks to be offshored and choose a supplier with the resources to improve processes

Outsourcing finance and accounting processes can achieve significant savings, but organizations can achieve greater value by outsourcing even their strategic financial processes. Some organisations are now outsourcing critical financial functions as well as their transaction processing. This reflects not just cost cutting, but recognition of the value that a third party service outsourcing provider can bring as part of a strategy to concentrate internal resources on the key areas that create shareholder value. In addition to transaction processes, sophisticated finance and accounting outsourcing providers are capable of taking over much of the higher-level value creation work such as data analytics, decision support and financial management tasks, including planning, budgeting, treasury management, performance management and risk evaluation and assessment.

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