The daily challenge that we hear from CFOs is being caught in the 70/30 trap, spending 70% of their time on tactical matters and only 30% on the strategic issues that impact the company’s future. Too often companies need skilled talent, but don’t have the budget allotment for hiring FTEs and the cost of temp help is prohibitive.
Outsourcing can bring in-demand skills to your organization on an on-demand basis and at a fraction of the price it would cost to attract, train and oversee in-house staff.
This was the case for a client. The company, which is a global player in the software market, approached us because they needed to remain cost-effective and flexible to varying global needs, particularly during peak activity periods when temporary hires spiked, elevating labor costs.
The company was also spending too much time on transactional activities and reporting, and key strategic components, like the analysis of the reports, were losing vital attention. For instance, the generic line item “other” lacked true insight on what was included under that banner. In short, they needed to increase productivity and insights while driving down their talent costs.
The Sutherland Solution
Sutherland began with seven business units within the company and a select number of reports targeted for transition by a dedicated team. Next, Sutherland turned to its experienced and highly skilled labor pool in India to leverage their time zone to the global client’s advantage. With the ability to produce reports over night while the rest of the world slept, our client’s managers received fresh data each morning and reporting wait times were reduced.
Sutherland’s specialized knowledge in FP&A enabled the development of new and more complex reporting. This reporting expertise allowed our client to gain even more strategic insight into their business through their analysis, and provided an additional boost in productivity.
The partnership with Sutherland helped our client to achieve their objectives with:
- A scalable model that the client grew over time, allowing for even greater productivity from existing resources to generate additional reporting.
- Access to a large offshore talent pool that helped realize immediate savings of more than 75%.
- On-demand talent that can be quickly increased according to demand or during peak periods.
- Management of labor side of the FP&A function, so that employee transitions have no impact on service delivery.
- Improved and more in-depth reports that allow management to see all aspects of its business clearly and spend more time on strategic analysis.
- Increased productivity through overnight results and unified data that global teams could use when they walked in the door.
To read the complete case study, download it here.
What’s Right for Your Company?
Often, companies need to find a blended solution that helps offload some of the tactical day-to-day functions so that remaining F&A teams can be more strategic. The right solution, if designed properly and implemented correctly, provides decision makers with the information they need to improve business performance. It also provides a means for instant access to skilled talent when you need it most, like quarterly and yearly reporting.
To learn more about how outsourcing can help improve your F&A function, and to arrange a free assessment of your current practices with one of our finance experts, schedule an appointment today.