Moving financial operations offshore can help your business, but Deloitte partner Peter Moller says that is the case only if you’ve fully thought through the move.
There is a trend to export jobs to where the work is cheaper. The urge to take back-office operations and export them to lowcost economies in Asia shows no sign of dissipating. A research report from Deloitte showed two million of the 13 million jobs in financial services across Western economies will be transferred to India by 2008, producing estimated cost savings of £73 billion for the top 100 financial services firms.
But, moving work offshore – especially in the finance function – may not necessarily be the answer to all questions of improving efficiency and making businesses more effective. Indeed, in terms of managing your financial systems, moving parts of your business offshore could actually cause your company to go off-track.
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