NOTE: This event has been re-scheduled, the new date will be announced shortly

The Strategic Imperative of Driving the FAO Agenda

Is Finance and Accounting Outsourcing (FAO) a transformational lever?

Projects done over the past few years have demonstrated that FAO helps to get costs, processes, compliance, and business strategies in line with operations.  As CFOs get more comfortable with FAO, they are beginning to see a broader scope than mere transaction processing; as customers are exploiting the power of analytics using FAO. Says Lisa Ross, CEO and Founder, FAO Research, “FAO is being used to facilitate consolidations, restructurings and globalization initiatives. There is finally the realization that finance is the backbone of all business operations."

Here are some examples where FAO projects went beyond its original call:

• Leveraging FAO to undergo a major, company-wide global change agenda. 
• Moving an under-performing shared services model to FAO, helping improve business operations. 
• Helping consolidate internal finance operations after a merger or acquisition
• Adding FAO to a larger, company-wide portfolio of sourcing initiatives.

Research shows that organizations are more anxious to service businesses having a "value-add" component versus straight transaction processing, solely cost reduction functions. Such commodity services diminish their ability to infuse innovation into the process, and the benefits are more difficult to realize in other parts of the finance function.

The writing on the wall is clear: FAO brings strategic benefits to the organization. But how does one pursue the right FAO program?

Global Services Events would be hosting a half-day program under its BPO Series. The program titled, "The Strategic Imperative of Driving the FAO Agenda" would comprise sessions by leading analysts, FAO specialists, existing customers, and practitioners and is aimed at helping finance executives understand the strategic underpinnings of FAO and would provide a how-to for embarking on a strategic FAO project.

The Events will focus on all the aspects of FAO-

1. Overview, trends, and emerging practices
2. Its strategic perspective
3. The next generation
4. Real-life pointers on managing an FAO program

 (This information adapted from an article in Global Services June 2008 issue, authored by columnist Lisa Ross)