The strategic benefits of back-office consolidation
In today’s economic climate, where uncertainty and volatility are prevalent, the pressure to unlock operational efficiency and navigate increasingly rigorous regulatory requirements has never been greater.
Organisations must find a way to streamline their operations to meet the demands placed on their in-house resources while maintaining a competitive advantage.
Back-office consolidation, which was once purely a cost-cutting exercise, has evolved into a 360-degree value add that helps companies better navigate the complexities of cross-border compliance and improve their data governance, all while reducing operational costs.
Perhaps most tellingly, companies that specialise only in administrative processes are no longer the first port of call for organisations looking to outsource their business functions. Service providers are increasingly becoming part of an organisation’s transformation journey as it looks to centralise, consolidate and retain greater control and oversight of its business functions.
A key attraction of consolidation is the opportunity to enhance management and control, ensuring resources are allocated efficiently and third-party vendor risks are minimised. Outsourcing essential business processes to a single provider improves business continuity and provides practical advantages in fundamental areas, such as payroll and accounting functions.
Global administrative service providers are evolving to meet demand, adding transactional and technological services across multiple areas to give their clients greater flexibility, efficiency and the control they seek.
This report from Harvard Business Review Analytic Services explores the evolution of back-office consolidation into an essential part of global business practices that have substantially increased operational efficiency. It examines the gaps left by the old back-office consolidation model and outlines the significant advantages on offer when companies select a strategic partner to transform their operations and support business growth instead of simply a global administrative service provider.
We provide corporate administrative services with over 11,000 colleagues in 125+ offices across 87 jurisdictions. As a strategic partner that supports our clients’ business at every stage of their transformation journey, we bring common culture and processes to create a global solution, eliminating the operational risk and complexity of many local providers.
We are pleased to sponsor this report that empowers decision makers to assess their needs and long-term goals and make the move toward using a global corporate services partner, making a complex world simple.
