Outsourcing has been a hot-button issue in the media this fall, particularly with regard to manufacturing. However, many companies are outsourcing the finance team as well. We are seeing increasingly more organizations decentralize the finance department, outsourcing many transactional and operational areas to shared service centers in places such as India or Sri Lanka, while retaining the management-accounting function domestically.
A new CGMA report, "One finance: Building tomorrow's talent strategy," focuses on the increasing difficulty of providing future leaders in the finance department with the well-rounded experience they need to lead their team on to continued success. Case studies in the report suggest that leaders need to consider sending their top finance talent on assignment to shared service centers to expand their knowledge and skill set.
Does your organization outsource to shared service centers? If so, how do you make sure your top talent is getting the well-rounded experience needed to support your finance department? I would love to hear from you. E-mail me at email@example.com.
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