In the process of achieving compliance, many organisations have spent disproportionate effort on relatively low risk but high-volume routine transactional processes such as purchase-to-payment or order-to-cash.
This leaves businesses exposed in key areas such as revenue recognition and system configuration, where poor business practices and procedures lead to far greater business risk and the risk of non-compliance.
This point of view looks at how companies can outsource business processes to a specialist partner and take advantage of a system of controls which help comply with requirements for lower-risk high-volume routine transactional processes. Outsourcing minimises costs, maximises effectiveness, and allows clients to focus their own resources on higher-risk areas. Outsourcing aligns effort to the level of risk and so the organisation is free to focus their own compliance efforts on areas of higher risk whilst the service provider takes care of the bulk of operational issues associated with the back-office.
By outsourcing business processes, organisations can expect to achieve sustained, repeatable and cost-efficient compliance. But not just compliance – the BPO model simultaneously brings enhanced consistency, improved efficiency and dramatically lower operating costs.
Capgemini UK plc
76 Wardour Street
Business Process Outsourcing - Compliance Risk or Opportunity? Business Process Outsourcing - Compliance Risk or Opportunity?