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PA IN THE MEDIA

Why outsourcing of financial services is history

"We are not ten times smarter than the Chinese. The figures explain why Europe’s economy is struggling, and why our economy is at risk".

 

Knut Erlend vik, PA economics expert

Joachim Kattrup

Økonomisk Ugebrev

19 May 2013

 

Lars Paredes, PA finance transformation expert, comments on a survey that asks CFOs to give their opinions on how financial services will be handled in the future. The survey reveals that CFOs would prefer financial services to be managed in a shared services centre owned by the company itself, or by the traditional in-house finance department.

According to Lars, CFOs will decide against outsourcing for two reasons: “Salaries in outsourcing countries such as Poland have increased significantly in the recent years. In order to obtain savings, companies need to outsource their services to far-away countries with little experience. Secondly, an increasing number of the services provided by the companies’ shared services centres will change into counseling services, which will create demands for new competences –  and this requires a specific business knowledge, which is difficult to find in an outsourcing partner.”


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