5 books that CFOs and finance leaders must read before outsourcing

Finance leaders across industries are concerned about Brexit in specific and the international social-political-economic outlook in general. At a time when cost control and cash flow are the top priorities, and when the problem of skills shortage becomes more acute, it is no surprise that many CFOs and FDs are strongly considering outsourcing finance & accounting functions.

Whether you are a veteran with several finance & accounting outsourcing projects under your belt or are dipping your toe in the water for the first time, it is essential to have the right information to reach the correct decision. Here are five books that examine the topic of outsourcing from different angles. Happy reading – and may your quest to transform your F&A operations bear fruit!

1. SmartSourcing: Driving Innovation And Growth Through Outsourcing

Author: Thomas M Koulopoulos

What is it about? Many organisations view outsourcing as nothing more than a tool to cut costs through labour arbitrage. This is the traditional lift-and-shift model that is getting outdated. SmartSourcing focuses on the benefits that businesses can reap when they take a broader view and focus on building partnerships that foster innovation. First published in 2006, this book was one of the pioneers of the idea that has now become commonly accepted.

Quote: “Smartsourcing is the evolution of outsourcing to a more sophisticated and effective model of working with all of your partners and processes – not just those that are most easily transported to an outside party.”

Where can I buy it? Amazon.

2. The Vested Outsourcing Manual: A Guide for Creating Successful Business and Outsourcing Agreements

Authors: Kate Vitasek, Jacqui Crawford, Jeanette Nyden

What is it about? Not all outsourcing relationships succeed. This book looks into the reasons for failure and offers actionable ideas for overcoming the obstacles. Punctuated by stories from businesses that have made outsourcing work for them; the book also includes templates that the practitioner can use during the process. If you want to ensure that you enter into a long-term, win-win relationship, this book can offer much needed guidance.

Quote: “Organisations moving to a Vested Outsourcing business model must expand how they think about can agreement – they must have a flexible framework that captures the essence of the relationship between the parties.”

Where can I buy it? Amazon.

3. Nine Keys to World-Class Business Process Outsourcing

Author: Mary Lacity

What is it about? The book looks at the practices of top BPO performers, provides case studies and illustrations of how the world-class BPO practices evolved over time. If you want to make sure that your outsourcing relationships are among the high-performing ones, you’ll find many answers here. For managers who want to dig into the details of the why, what and how of outsourcing, this is a must-read book.

Quote: “BPO relationships are best launched by assigning a strong leadership pair, focusing on business benefits, and driving strong transition, transformation and change management… the leadership pair is the one master key that unlocks the power of all other keys.”

Where can I buy it? Amazon.

4. Multisourcing: Moving Beyond Outsourcing to Achieve Growth And Agility

Authors: Linda Cohen, Denise Underwood, Allie Young

What is it about? Although written more than a decade ago, this book from Gartner experts is great for any business leader who want to get outsourcing right the first time. The best part is that it helps you create a customised plan for multisourcing using practical frameworks and illustrative examples. Throughout the book, the authors argue that most companies lose out on the benefits of outsourcing owing to an ad-hoc approach and suggest a more thoughtful and long-term approach.

Quote: “You should also allow time for the providers to perform their own due diligence and verify that what you have presented as your service needs, baselines, assets, and personnel is complete… it is simply another part of building a successful relationship.”

Where can I buy it? Amazon.

5. Outsourcing- All You Need To Know

Authors: Sara Cullen, Mary Lacity, Leslie Willcocks

What is it about? Based on years of research in top 2100 organisations throughout Europe, US, Asia and Africa, this is one of the authoritative handbooks for outsourcing. The book takes a close look at the entire outsourcing lifecycle, right from establishing the strategic agenda for outsourcing to growing the relationship and maximizing its benefits.

Review: “The authors’ use of statistics and matrices are superb as for every issue they bring a lot of different options to the table equipping the reader to make his/her own combinations customising solutions for every unique situation.” – George Vrakas.

Where can I buy it? Amazon.

Let’s talk about F&A outsouricng

We hope that one of these books help you gain a better understanding and appreciation for finance and accounting outsourcing. If you’d like to discuss any of the ideas with our F&A outsourcing and transition expert or would rather have an intelligent conversation with someone who understand the topic than plough through a book, we would love to speak with you.

Originally published Aug 22, 2017 03:08:28, updated Jul 29 2024

Topics: Finance & Accounting Outsourcing