Bill Klein, President of Consero Global, explains two fears that companies face when choosing to go with a BPO or a managed financial solution. Executives have a fear of losing control and fear of disruption.
The first fear is loss of control. The fear is that not having someone on-site at the customer’s location will diminish control. Executives instinctively want a live person that is accountable and readily available. When something goes wrong, there has to be an egg to fry.
True, most BPO activities are virtual. However, what is often overlooked is that BPO can actually create a safer system for data processing, while the control rests firmly in the customer’s hands. BPO does not mean that there is no one to quickly field questions or provide information to the management team. If you are a startup on the heels of early success, you won’t have a massive development team or roster of experienced finance professionals capable of building, testing, and launching new processes. Keep your focus on improving your core capabilities. Do what you do best, let others do the rest.
Transferring the running of back-office finance & administration to an outsourced provider does not mean you transfer control. For example, at Consero, we bring a tremendous amount of transparency to a business by making information available at a glance and in an intuitive fashion. The executive team has all the information about the business and can easily pull it up on their phone, tablet or laptop. Additionally, a financial summary provides a narrative of the data. This eliminates the “go ask” environment that so many SBMs find themselves in.
The second fear is disruption. How much time is this going to steal out of my day? Will changing our internal processes have a negative impact on our productivity? Too many executives know they have a bad financial solution but are fearful of the disruption to the company during implementation and would rather deal with the existing pain. Outsourcing vendors have the intellectual, technological and social resources to become a true partner in the success of the buyer.
Outsourcing to a managed financial solution helps to capture new efficiencies and reallocate the resources. Efficiency increases productivity. Availability of skilled employees and adoption of sophisticated technologies leads to utilization of resources and productivity.
Consero has a unique approach allows us to transform our clients finance departments into engines that drive the business forward without diverting executive time away from growing the business. We provide a quick install of our financial solution with minimal disruption to the business. Now operational, companies are able access all their financial information on demand, with up to the minute reporting on financial standing. Consero clients receive superior financial information to support executive decision making, reliable back office processes and greater operational scalability while reducing the time executives spend managing their finance function.
You can eliminate your fears of outsourcing. If you have well-built processes, a dedicated finance and accounting team, and a known software platform, you can have a successful managed financial service that gives you efficiency, transparency and the necessary information to make strategic decisions. The result will be accelerated growth and scalability without disrupting your operations or consuming your time.
For more information on how Consero can help you gain control without disruption, contact us today.