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Special report: Finance transformation - the outsourcing perspective

The story continues... It is six years since the Finance & Management Faculty produced its special report ‘From outsourcing to offshoring’. In that time I expect that the vast majority of large businesses will have considered outsourcing at some point, and many will have taken the plunge with varying degrees of success.

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The authors of this outsourcing special report share their expertise on topics including service level agreements, people management, and innovation and technology.

Finance transformation - the outsourcing perspective

During those six years we have also experienced the international credit crunch and are said to be entering into the age of austerity. These circumstances have required all businesses to review their cost base and to consider if their structure is fit for purpose. The finance function is not exempt, and has no doubt been under the spotlight in many organisations.

With this in mind this special report ‘Finance Transformation – the Outsourcing Perspective’, is timely. Many of the key issues from 2006 remain the same: deciding what and with whom to outsource, negotiating terms and managing the associated risks. Other aspects have evolved, including the range and attractiveness of outsourcing locations available and the use of more blended models combining onshore, offshore, in-house, outsourced and various styles of management. You should find these two reports complementary; for details of how to access the previous report see the further reading section on page 28.

Whilst this report does focus on outsourcing, many of the topics discussed will also be useful if you are considering other solutions such as in-house shared service centres. The authors, Capgemini, share their expertise on topics including service level agreements, people management, and innovation and technology. Equally whilst this report is aimed at larger businesses there will be some useful lessons for smaller organisations.

The number of case studies in the report is necessarily limited; however we would be really interested to hear your experiences. Have you outsourced any part of your finance function? If so, which? Do you have any lessons that you could share with your fellow members? We would also be very pleased to hear any questions or feedback that you have.

Published by the Finance and Management Faculty (SR31 - December 2010)

Full article only available to ICAEW members and students.

About the author

Carole Murphy is vice president at Capgemini Consulting where she leads the global finance & employee transformation practice. She joined Capgemini in 1996 and has been vice president in the UK since 2006. Carole works with global organisations to develop and implement finance and HR strategy and transformations which incorporate shared services and business process outsourcing.

Prior to joining Capgemini, Carole worked in industry as a finance controller. She was born and educated in Dublin and is a qualified management accountant and lawyer.

About Capgemini

Capgemini, one of the world’s foremost providers of consulting, technology and outsourcing services, enables its clients to transform and perform through technologies. Capgemini provides its clients with insights and capabilities that boost their freedom to achieve superior results through a unique way of working, the Collaborative Business Experience™. The group relies on its global delivery model called Rightshore®, which aims to get the right balance of the best talent from multiple locations, working as one team to create and deliver the optimum solution for clients. Present in more than 35 countries, Capgemini reported 2009 global revenues of €8.4bn and employs over 100,000 people worldwide.

Capgemini’s expertise is recognised in business process outsourcing (BPO) with a solution portfolio that spans finance and accounting, customer operations management, procurement and supply chain management, assurance management, human resources, knowledge process outsourcing services, as well as vertical solutions for the financial services industry. As part of Capgemini’s Rightshore® delivery network, more than 10,500 BPO professionals provide services to clients worldwide 24 hours a day, seven days a week, in over 35 languages, from centres located in Australia, Brazil, Canada, Chile, China, Guatemala, India, Poland, Sweden and the United States.