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Finance Work Shifts, Slowly

Few large companies are moving swiftly to offshore their finance functions.
CFO Staff, CFO Magazine
November 1, 2009

Deloitte talked to finance executives at 51 large global companies and found that few were pushing ahead quickly to offshore their finance functions. "Most companies are approaching finance globalization without clear plans or timetables," according to the report, with "60% of those we interviewed still in the earliest stages, focusing on a handful of targeted operational activities."

Other findings:

Finance offshoring programs initiated and led by CFOs generated average savings of 21%, compared with only 15% for those led by others.

On average, top-performing CFO-led programs delivered cost savings of 50%.

Operating costs for the most efficient finance organizations are 0.5% of revenue, compared with 3.5% for the least-efficient organizations.

Source: Deloitte




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