Here’s a multiple-choice question for you: Is outsourcing the CFO position likely to be (a) innocuous, (b) momentous, or (c) hazardous? Before you deem the question as ridiculous, consider this “Outsourcing the CFO” article in The Moscow Times.
Although the article discusses the outsourcing strategy within the context of encountering difficulty in attracting/hiring an experienced CFO, the strategy could also work in situations where the buyer of outsourced finance and accounting processes also folds the CFO position into the scope of services delivered by the outsourcing provider – and the CFO is on the outsourcer’s payroll.
What benefits would the… Read the rest
Saturday night, June 6, 2009. It was the long-awaited and much-hyped George Strait concert at the grand opening of the Cowboys Stadium, the massive piece of architecture that is the new home for football’s famed Dallas Cowboys. More than 60,000 fans were expected to attend, and for months before the concert, Internet sites offered maps with the best routes to get to and from the stadium from any Dallas/Fort Worth Zip Codes.
The restaurants, clubs and other businesses in the Arlington, Texas, entertainment district where the stadium stands tall had extra staff on hand, ready for the anticipated… Read the rest
I just read an article published this week, titled “Spreading the word on outsourcing.” What’s interesting about it is that, although it starts out advising companies about the benefits of outsourcing their non-core processes, it switches to a discussion about outsourcing failures. The writer cites a recent study that found nearly 70 percent of 300 survey respondents (apparently in Ireland) said their outsourcing deals “suffered from poor vendor selection and lack of service levels.”
What grabbed my attention even more was a letter from a New Albany, Indiana, resident commenting on the poor quality of services, the subsequent deterioration in… Read the rest
Trust is something that really trips people up in outsourcing relationships. In my talks with hundreds of executives involved in outsourcing over the last decade, I’m intrigued by the fact that when I ask executives about the trust level in their relationship, some can’t determine if trust is there, some say they thought trust was there but then something happened that indicated otherwise, and most who say trust is key to their success can’t describe how to build or sustain it.
Outsourcing has an inherent challenge that makes trust become crucial to achieving successful outcomes. We’ve developed all sorts of… Read the rest
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