CFO Insights
Achieving High Performance Through Finance Business Process Outsourcing
Published on 19. August 2005
328 pages
978-0-470-09177-7 (ISBN)
Description
Many CFOs have led their companies to invest in ERP and sharedservices in order to create leaner, more global organizationstructures. Today, they seek more radical transformation throughbusiness process outsourcing (BPO). CFO Insights is apractical, comprehensive guide to this exciting, fast-growingfield. It features expert advice from the CFOs of major companiesworldwide, including BP, Procter & Gamble, Dell, and Exel. Stepby step, it takes you through the stages of a successfuloutsourcing solution - from evaluating providers and contracting,through transition planning and risk management.
"We have seen cost reductions every year for each of the13 years of our outsourcing experience - now, finally, we areseeing the outsourcing market mature. The advancement ofmulti-client centers will create new value. As new low cost centersspring up around the world I want to have easy access to theopportunities."
--Ala n Eilles, CFO Downstream, BP
"Outsourcing is not about sitting still. On the one hand,as CFO, you have to be in control, and have the right controlmechanisms in place. On the other, this is an evolving relationshipwhere both parties feel empowered and energized to make a realdifference in the business."
--John Coghlan, Group Finance Director of Exel
"My view of the CFO's role is relatively simple: Howdo you add value? The CFO has to be in the forefront inunderstanding, at a strategic level, the relative economics ofdifferent parts of the business model - and vitally play adecisive role in deciding what should be insourced and what shouldbe outsourced."
--Clayton Daley, CFO, Procter & Gamble
"We have seen cost reductions every year for each of the13 years of our outsourcing experience - now, finally, we areseeing the outsourcing market mature. The advancement ofmulti-client centers will create new value. As new low cost centersspring up around the world I want to have easy access to theopportunities."
--Ala n Eilles, CFO Downstream, BP
"Outsourcing is not about sitting still. On the one hand,as CFO, you have to be in control, and have the right controlmechanisms in place. On the other, this is an evolving relationshipwhere both parties feel empowered and energized to make a realdifference in the business."
--John Coghlan, Group Finance Director of Exel
"My view of the CFO's role is relatively simple: Howdo you add value? The CFO has to be in the forefront inunderstanding, at a strategic level, the relative economics ofdifferent parts of the business model - and vitally play adecisive role in deciding what should be insourced and what shouldbe outsourced."
--Clayton Daley, CFO, Procter & Gamble
More details
Other editions
Additional editions
Stewart Clements | Michael Donnellan | Cedric Read
CFO Insights
Achieving High Performance Through Finance Business Process Outsourcing
Book
05/2004
1st Edition
Wiley
€74.50
Shipment within 10-20 days
Persons
Stewart Clements is president of Accenture Finance Solutions(AFS), Accenture's finance and accounting outsourcing business. Inthis role he is responsible for the business strategy; developmentof Accenture's delivery centre network; finance- andoutsourcing-focused assets and tools; and the management anddevelopment of organisational capabilities. He has more than 18years experience in finance change programs and financeoutsourcing. Mr. Clements is a Chartered Accountant and has adegree in Accountancy from Glasgow University. Based in London, hehas been with Accenture for nearly 20 years.
Michael Donnellan is a lead partner in Accenture'soutsourcing and consulting business. He has more than 20 years'experience in the professional services industry. Mr. Donnellan hasalso worked extensively on the research, development and deploymentof innovative operating models. An engineer by background, he hasspent the last decade focusing on the new role of finance in themodern corporate enterprise. In 1997, he co-authored CFO:Architect of the Corporation's Future, which resulted in theadoption of new finance and accounting organisational models bynumerous corporations around the world.
Cedric Read led the PricewaterhouseCoopers FinanceConsulting Practice, where he was a finance strategy consultant for25 years. During this time he advised hundreds of global CFOs,providing strategic consultancy to a range of large multinationalcompanies including Unilever, Microsoft, Shell and GlaxoSmithKline.Through his company, CCR Partners, Mr. Read continues to develophis vision of finance's future. He is the lead author of threeprevious books: CFO: Architect of the Corporation's Future;eCFO: Sustaining Value in the New Corporation; and CFO asBusiness Integrator.
Michael Donnellan is a lead partner in Accenture'soutsourcing and consulting business. He has more than 20 years'experience in the professional services industry. Mr. Donnellan hasalso worked extensively on the research, development and deploymentof innovative operating models. An engineer by background, he hasspent the last decade focusing on the new role of finance in themodern corporate enterprise. In 1997, he co-authored CFO:Architect of the Corporation's Future, which resulted in theadoption of new finance and accounting organisational models bynumerous corporations around the world.
Cedric Read led the PricewaterhouseCoopers FinanceConsulting Practice, where he was a finance strategy consultant for25 years. During this time he advised hundreds of global CFOs,providing strategic consultancy to a range of large multinationalcompanies including Unilever, Microsoft, Shell and GlaxoSmithKline.Through his company, CCR Partners, Mr. Read continues to develophis vision of finance's future. He is the lead author of threeprevious books: CFO: Architect of the Corporation's Future;eCFO: Sustaining Value in the New Corporation; and CFO asBusiness Integrator.
Content
Abbreviations.
1. The Finance Outsourcing Landscape.
Transforming the finance function through outsourcing.
The impact of finance BPO on the corporate agenda.
The CFO and finance transformation.
Why move to shared services?
Outsourcing: Who is doing what?
CFO concerns.
The outsourcing promise.
CFO insights.
2. Creating an Operating Model for High Performance.
Changing to a global business model based on brands and technology.
What is a 'high-performance' company?
Differentiated operating models.
Innovation in consumer goods and retail.
Coping with major upheaval.
The pharmaceutical networked model.
So what do you outsource - and why?
Strategies for change and innovation.
CFO insights.
3. Suppliers: Options for Service Delivery.
Considering future business partners.
Trends in business process outsourcing.
How far should you go with outsourcing?
The move to multisourcing.
Choosing your supplier combination.
Shaping the outsourcing relationship.
Planning a delivery strategy.
CFO insights.
4. Scoping: Deciding What to Outsource.
Developing a high-performance finance function with superior alignment to the competitive imperatives of the business.
Where to cut the process.
Purchase-to-pay.
Order-to-cash.
Credit and receivables management.
General accounting, reporting, and decision support.
The integrated F&A outsource proposition.
CFO insights.
5 Global Sourcing of Service Delivery.
Migrating to a global delivery network.
Three ways to source globally.
Mapping the offshore landscape.
Using geography to mitigate risk.
Sourcing choices.
Outsourcing due diligence.
Emerging global shared service center networks.
Technology shapes the future.
CFO insights.
6.Pricing and Shaping Your Deal.
Shaping the deal for a co-sourcing.
Pulling the levers of shareholder value.
Shaping the contractual relationship.
Pricing options.
Pricing and contracting principles.
Tax considerations.
The negotiation lifecycle.
CFO insights.
7. Stakeholders: Achieving Buy-In.
Reaching stakeholders through open and honest communications.
Lead from the top: The CEO and CFO working together.
Your new stakeholder: Your outsource partner.
Third-party advisors.
Employees: Treating them with care and integrity.
The role of HR in outsourcing.
Communications strategy.
CFO insights.
8. Ensuring a Successful Transition.
Transitioning to a European outsourced shared service center.
Transition framework.
Transition management.
Detailed implementation planning.
People strategy.
Communication strategies.
Leading the transition.
CFO insights.
9. Reducing Risk with Outsourcing.
Weighing up risk and outsourcing.
Identifying the risks.
What can go wrong in the contracting phase?
Setting up the right governance structure and relationships.
The risks of going global.
Financial, legal, and tax risk.
Sarbanes-Oxley and European International Accounting Standards (IAS).
CFO insights.
10. Continuous Improvement: Keeping the Deal Working.
Building on success over time.
Getting things right from the start.
Making the commercials match the intent.
Outsourcing is about relationships.
Keep focusing on service management.
Integration and service management.
Pushing for continuous improvement.
Refreshment through contract renewal.
Keeping score.
CFO insights.
11. Finance BPO - the Future.
Innovation insights.
Accenture finance solutions: Worldwide interconnectivity.
The impact of next-generation technologies.
Finance and performance mastery in the future.
CFO insights.
Biographies.
Index.
1. The Finance Outsourcing Landscape.
Transforming the finance function through outsourcing.
The impact of finance BPO on the corporate agenda.
The CFO and finance transformation.
Why move to shared services?
Outsourcing: Who is doing what?
CFO concerns.
The outsourcing promise.
CFO insights.
2. Creating an Operating Model for High Performance.
Changing to a global business model based on brands and technology.
What is a 'high-performance' company?
Differentiated operating models.
Innovation in consumer goods and retail.
Coping with major upheaval.
The pharmaceutical networked model.
So what do you outsource - and why?
Strategies for change and innovation.
CFO insights.
3. Suppliers: Options for Service Delivery.
Considering future business partners.
Trends in business process outsourcing.
How far should you go with outsourcing?
The move to multisourcing.
Choosing your supplier combination.
Shaping the outsourcing relationship.
Planning a delivery strategy.
CFO insights.
4. Scoping: Deciding What to Outsource.
Developing a high-performance finance function with superior alignment to the competitive imperatives of the business.
Where to cut the process.
Purchase-to-pay.
Order-to-cash.
Credit and receivables management.
General accounting, reporting, and decision support.
The integrated F&A outsource proposition.
CFO insights.
5 Global Sourcing of Service Delivery.
Migrating to a global delivery network.
Three ways to source globally.
Mapping the offshore landscape.
Using geography to mitigate risk.
Sourcing choices.
Outsourcing due diligence.
Emerging global shared service center networks.
Technology shapes the future.
CFO insights.
6.Pricing and Shaping Your Deal.
Shaping the deal for a co-sourcing.
Pulling the levers of shareholder value.
Shaping the contractual relationship.
Pricing options.
Pricing and contracting principles.
Tax considerations.
The negotiation lifecycle.
CFO insights.
7. Stakeholders: Achieving Buy-In.
Reaching stakeholders through open and honest communications.
Lead from the top: The CEO and CFO working together.
Your new stakeholder: Your outsource partner.
Third-party advisors.
Employees: Treating them with care and integrity.
The role of HR in outsourcing.
Communications strategy.
CFO insights.
8. Ensuring a Successful Transition.
Transitioning to a European outsourced shared service center.
Transition framework.
Transition management.
Detailed implementation planning.
People strategy.
Communication strategies.
Leading the transition.
CFO insights.
9. Reducing Risk with Outsourcing.
Weighing up risk and outsourcing.
Identifying the risks.
What can go wrong in the contracting phase?
Setting up the right governance structure and relationships.
The risks of going global.
Financial, legal, and tax risk.
Sarbanes-Oxley and European International Accounting Standards (IAS).
CFO insights.
10. Continuous Improvement: Keeping the Deal Working.
Building on success over time.
Getting things right from the start.
Making the commercials match the intent.
Outsourcing is about relationships.
Keep focusing on service management.
Integration and service management.
Pushing for continuous improvement.
Refreshment through contract renewal.
Keeping score.
CFO insights.
11. Finance BPO - the Future.
Innovation insights.
Accenture finance solutions: Worldwide interconnectivity.
The impact of next-generation technologies.
Finance and performance mastery in the future.
CFO insights.
Biographies.
Index.
