Transition Management in F&A Outsourcing
The finance function of an organization is challenging and the F&A environment is ever-changing. To achieve Success with an outsource model in the F&A industry, there needs to be strong transition management to ensure business stability along with a strong foundation for service delivery and long-term governance. Prospective organizations and Outsource providers should work closely to identify and implement a comprehensive mechanism that covers all the necessary functions and deliverables through the outsourcing of processes.
The expectation of an F&A outsource is to provide a wide range of deep capabilities to transition and improve the finance operations. There has to be a strong, solid, and honest relationship between the organization and the outsourcing vendor for the transition to be successful. The contracts need to be transparent, significantly manages risk, and enable savings from the start of the operations.
To make the outsourcing process successful. the transition needs to be managed effectively. The transition process has three main goals. The first is to ensure a smooth transfer of responsibility, so the client doesn’t experience any disruption to the service. The second goal is the people aspect of transitioning ensuring employees are treated fairly. The third is to design jobs to optimize working efficiency.
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Key objectives expected through the Transition Management in F&A Outsourcing
This Whitepaper Covers
- Introduction to Transition Management in F&A outsourcing
- Approach to the transition plan
- Factors to consider when creating a transition plan.
- What are the next stages in Transition Management
- Overcome the challenges and barriers with a successful communication plan
- The importance of transparency and governance towards a strong partnership
- Benefits of hiring a skillful transition team
- Reveal the transfer process knowledge of resources and processes between bonded parties
- Challenges and resistance to change during a transition period
- Winnings, creating reward and appraisal systems towards the successful transitioning project