By Stewart Clements, Michael Donnellan, Cedric Read
Many CFOs have led their businesses to speculate in ERP and shared prone so that it will create leaner, extra international association buildings. this day, they search extra radical transformation via enterprise method outsourcing (BPO). CFO Insights is a realistic, complete consultant to this interesting, fast-growing box. It gains specialist suggestion from the CFOs of significant businesses world wide, together with BP, Procter & Gamble, Dell, and Exel. step-by-step, it takes you thru the phases of a profitable outsourcing answer - from comparing companies and contracting, via transition making plans and threat administration.
“We have obvious expense discount rates each year for every of the thirteen years of our outsourcing event – now, eventually, we're seeing the outsourcing industry mature. The development of multi-client facilities will create new price. As new reasonable facilities spring up world wide i need to have quick access to the opportunities.”
—Ala n Eilles, CFO Downstream, BP
“Outsourcing isn't approximately sitting nonetheless. at the one hand, as CFO, you should be up to speed, and feature the perfect regulate mechanisms in position. at the different, this is often an evolving courting the place either events think empowered and energized to make a true distinction within the business.”
—John Coghlan, staff Finance Director of Exel
“My view of the CFO’s position is comparatively uncomplicated: How do you upload price? The CFO needs to be within the vanguard in realizing, at a strategic point, the relative economics of alternative elements of the company version – and vitally play a decisive position in figuring out what can be insourced and what can be outsourced.”
—Clayton Daley, CFO, Procter & Gamble
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Additional info for CFO Insights: Achieving High Performance Through Finance Business Process Outsourcing
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Our outsourcing experience to date is not seen as a big-bang approach, but a more tactical evolution of our operating model. We look at the feasibility of outsourcing specific parts of our infrastructure – for example, property management and facilities, which recently has been outsourced to Jones Lang LaSalle on a worldwide basis. indd 35 02/04/2004, 09:44:29 Creating an Operating Model for High Performance of best of breed. But, we don’t want a huge organization internally to manage the outsourcers – every time you outsource something you have to consider the effort that goes into purchasing and contract management.
The most valuable are greater cost savings, increased flexibility and speed, and higher service levels. Consider the following advantages that more sophisticated outsourcing relationships can provide: • By turning an existing asset over to an outsourcer, an organization can turn fi xed costs and capital into variable expenses. This applies to people, too. The organization no longer has to invest in recruiting, training, motivating, and managing the people who staff these operations. • Outsourcers can share assets among multiple clients to improve cost and handle capacity fluctuations.
While the list is long, remember that there are at least as many companies again who have signed F&A outsourcing contracts in this period who choose not to publicly disclose the fact. 5 Publicly announced F&A outsourcing contracts 2001 through 2003 Here are some salient facts and figures drawn from a recent analysis of leading outsource contracts in 2003: • • • The average contract value is $217mn The average contract length is 6 years F&A and HR continue to be most commonly outsourced. indd 22 02/04/2004, 11:57:51 CFO Concerns The scale and breadth of the largest contracts signed in 2003 is typified by BC Hydro in Canada who signed a single outsourcing contract covering customer billing services, IT, HR, purchasing, fi nancials, and property management.