The most successful organisations have derived value from outsourcing in many ways beyond cost cutting. A recently released white paper postulates that businesses are able to drive growth, manage the challenges of attrition and provide value to their customers through outsourcing.
The paper, titled Beyond Cost Cutting: Driving growth & efficiency in the accounting & financial services industry with BPO, says that: “…BPO in financial and professional services is generally considered a tool for cost savings, a misconception which overlooks the positive role BPO plays in developing growth strategies and freeing up staff for higher value-add activities.”
The paper argues that this has been evident in the outsourcing of self-managed superannuation fund (SMSF) processing by Australian accountants and superannuation administration firms: “This has overwhelmingly been the case for Sundaram Business Services clients in the SMSF area, where more accountants and superannuation administrators are outsourcing processing work in order to concentrate on their core business.”
Harish Rao, Global Head of Business Development at Sundaram Business Services, said BPO in professional services continued to evolve. “More professional services firms see BPO as a multi-dimensional business asset and are using it strategically to help drive growth.
“The idea of BPO as merely a cost-cutting mechanism is fast becoming outdated.”
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