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CFOs 'turn to outsourcing' in tough economy

18 July 2013

As the UK economic climate remains challenging, an increasing number of organisations are turning to outsourcing as a means of cost reduction. 

A recent report by the Everest Group revealed there has been a ten per cent rise in the number of firms choosing to farm out their procurement services, while a study by the CBRE group found many companies are outsourcing IT work to specialised data centres.

However, Dave Brown, business process outsourcing (BPO) strategic business development director at HP, believes this approach can drive growth as well as cutting costs. 

Writing for CFO world, he said outsourcing can help chief financial officers (CFOs) expand into unfamiliar markets, as they will be able to draw on external partners that already have expertise in that particular area.

Businesses may favour a measured approach such as this, as the economic climate means many firms are still unwilling to take risks.

"BPO solutions provide the CFO with a flexible foundation that reduces uncertainty and allows them to focus on strategic issues," Mr Brown added.

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Categories: Commercial, Financial Management

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