With increasing difficulties in saving costs under traditional approach and quite often these savings are marginal, new thinking and tools are needed in order to achieve substantial savings and performance improvement. A close examination of the finance function reveals that bulk of its activities are transactional and processing based while the rest supports business decision. The challenge to the finance function is to achieve much more with much less in order to create superior value.
Successful companies are able to use leading technologies and best practices to transform the finance function to become proactive business partners contributing to the core business strategies, processes and decisions support while leaving the transactional and processing activities to a shared service centre. Outsourcing the non-core finance activities allows a much quicker and substantial realisation of financial and non-financial benefits including service quality and efficiency improvement.
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