Why sending work overseas is starting to make sense for smaller finance departments.
Alix Stuart, CFO.com | US
May 25, 2011
Interesting to read about the growing trend in IT outsourcing with regards to financial services with a continued positive outlook among both large & small companies. Just read an excellent article titled Do Your Homework Before You Select an IT Outsourcing Provider, http://bit.ly/oWigKp
Posted by gnanesh Gnanesh | October 11, 2011 04:20 am
I agree with views in the article. Just to add the information more facts, that not only the small companies in USA are getting the work done successfully in India from Big companies in India but the small closely held companies in India are doing this business very smartly and upto the complete satisfaction of their clients. In fact, small companies in USA are happy outsourcing their Finance & Accounts activity with closely held small companies in India, since they get all the attention they desire and at the same time all the security points duly taken care of. It is the technology which is contributing to the growth of Finance & Accounting outsourcing at small scale level also. Our Company SK InfoTech Management Services www.easyaccountingsolution.com is doing Accounting Outsourcing since year 2004 successfully in UNITED STATES is the best example.
Posted by Sunil Khullar | May 29, 2011 01:06 am
Interesting article, we see outsourcing F&A ( sometimes onshore or offshore) at the larger companies with mixed results. However, there is no question at larger companies this is a real trend. The fact that technology has now made it more efficient for outsourcing to work in middle/smaller companies is no surprise - it was a matter of time. The question becomes not if this trend will happen but "as a F&A professional how do you manage your career?" The answer is to ensure you are building skills that add value to the company. Companies need Finance/Accounting professionals that partner with operations, marketing, sales etc... The Finance/Accounting people who are in "most demand" at any company (small or large) are not simply numbers people instead they help others understand where the business is and how to get it to where they want. The Finance/Accounting professionals who only crunch numbers or produce financial statements are the ones most at "risk" of having their roles outsourced. Companies will not outsource intellectual capital that adds value to their company - they want to keep it at their company
Posted by Jim Wong | May 26, 2011 04:13 pm
Although it is an obvious immediate benefit to the bottom line, offshore outsourcing of F&A diminishes the sense of teamwork and loyalty to the company. I would suggest that the outsourced staff would work with the best interests of their own company in mind and not those of their clients affecting the quality of their service.
Posted by David Grande | May 26, 2011 10:13 am
Your article stating that even more companies should consider offshore contracts for services in the smaller finance departments, really bothered me. I would hope that more companies would have finally come to their senses about cheap labor and its effect. These types of articles encouraging offshore contracts are a very real reason why America is not doing well. I realize there are many reasons that contribute to our current demise. But, this is one of the hard choices, make a little less money now and help America or make more money and hurt our very existence, this dog comes back on the porch and bites. You guys have not learned much except how to make the most money right now never considering the future of your children and grandchildren. I would hope more companies consider bring the business back to the shores of the land of the free and home of the brave. Thank you for this opportunity to voice my concern. Stephen J. Farabelli Corporate Controller TXR Global Technology Services, Inc Norristown, PA
Posted by Stephen Farabelli | May 26, 2011 08:49 am© CFO Publishing Corporation 2009. All rights reserved.