What’s the future direction of Finance’s everyday tasks? More work being done abroad.
That’s what the latest research from The Hackett Group is predicting. According to a survey of 200 companies, firms plan on ramping up outsourcing by 74% over the next two years.
What’s more, Finance tops the lists of departments likely to increase third-party help. Finance chiefs are looking offshore mainly to cut down on labor costs, but also because of the flexibility of outsourcing, experts say.
Here’s the breakdown of the findings for Finance, IT and HR:
Finance:
% of full-time jobs going offshore in 2008: 10.5%.
% of full-time jobs going offshore in 2010: 21.6%.
IT:
% of full-time jobs going offshore in 2008: 15.4%.
% of full-time jobs going offshore in 2010: 25.1%.
HR:
% of full-time jobs going offshore in 2008: 10.2%.
% of full-time jobs going offshore in 2010: 15.1%.
Note: The effects of the admitted fraud of Indian outsourcing juggernaut, Satyam Computer Services, haven’t been fully felt or understood yet.