Companies are increasingly looking for flexible solutions that are specialized precisely for the respective situation.
Interim CFOs are used when chaos reigns, when restructuring is necessary, when special project know-how (e.g. in digitization projects) is required, or when the departure of experienced employees cannot be compensated for – in other words, whenever the existing team cannot (or no longer) make it.
Ideally, these are the same situations in which business process outsourcing is the better choice. The following are two examples.
Case one:
A company has grown very quickly through many acquisitions without adapting the accounting structures to this growth. An interim CFO is brought in to bring the chaos that has now arisen due to staff shortages and a lot of things left behind back on track. The situation in the affected company is often so confusing that things are quickly overlooked. The best solution is therefore a team of professionals consisting of leadership and careful operational implementation.
The necessary fast team solution can only be a BPO service provider specializing in finance and accounting who has the necessary routine, the necessary capacities and the necessary process know-how. Good BPO service providers are cold-start capable and can scale as needed.
Case two:
A group division has to leave the internal shared service center through a carve-out, where commercial services were previously provided.
An interim manager will be brought in to accompany the carve-out process. Often, the transition times to complete independence are very sporty. So the classic “make-or-buy” question has to be asked very early on: Do I participate in the battle for good minds on the job market and do I deal with a new accounting system or can’t I buy both as a complete service? The answer is obvious, especially since good providers bring digitization and process optimization expertise in addition to know-how and capacities. For the future independent area, optimized processes with a high degree of digitization can be built on a modern financial accounting system right from the start, right up to the use of RPA solutions.
These are just two of countless scenarios in which interim management and BPO form a perfect symbiosis, as both act objectively against entrenched structures.
ICS adminservice GmbH offers BPO in finance and accounting at its best and has a network of excellent interim managers.
What role does accounting outsourcing play in interim management? Do you use BPO as a solution option in the interim CFO toolbox? What experiences have you had? We look forward to your comments.
Image Source: Adobe Stock, Photographer: Brian Jackson
Interesting topics:
Employee as a Cost Factor – Outsourcing as an Alternative to Internal Resource Development
Is RPA the new business process outsourcing?
Goodbye resource problem! – No more personnel bottlenecks in accounting
