BPO for a global oil, chemical and energy storage company
Project: Benchmark, contract review and implementation recommendations for Business Process Outsourcing of the finance operations.
Challenge & Client Value: The company operates storage terminals in three regions of the globe. In each country the regulations for accounting and reporting differ, while a global view is necessary. A first step was to harmonize the cloud-based core financial system and the core processes. Next, the first-generation shared services centers were extended to the regions. After a thorough examination the company faced the issue of attracting keeping the right staff for the accounting centers. Together with the desire to constantly improve the decision to outsource the finance operations function to a global service provider. The challenge was to select the right partner, evaluate the bids and construct the contract. This was a first-time exercise.
Whitebridge Consulting and Avasant were asked to support and complement the teams of the customer with knowledge and guidance so that a solid decision can be made.
Approach: Whitebridge Consulting and Avasant worked with the team of the customer and delivered the advice to the steerco of the CFO. The approach consisted of:
- Assessing the finance processes in scope on standardization and maturity
- Benchmarking the services, cost and price levels
- Evaluate the proposals
- Complement the draft contacts and schedules
- Advise on the best implementation plan
The support was highly appreciated and led to a solid decision and agreement with the service provider. All according to plan and budget.
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