New York (May 29, 2003) -- A new management brief from consulting, technology and outsourcing services provider Cap Gemini Ernst & Young claims outsourcing multiple financial functions can ease chief financial officer concerns over corporate re-filings and Sarbanes-Oxley Act rules.

The most recent brief, titled "Finance & Accounting Outsourcing: Reduce Costs and Improve Performance -- Simultaneously" is part of CGE&Y's ExecutiveEdge management series. It finds that many clients have turned to experts who will outsource multiple financial functions in order to seek the transparency of a commercial relationship with clear contractual and service-level agreements.

"Outsourcing the finance and accounting functions typically delivers more consistent, accurate and timely data, with greater control over the processes and improved policy enforcement for organizations," notes Bill Frech, CGE&Y’s vice president. "Managers and executives can focus on creating solutions and anticipating markets rather than compiling a patchwork of financial data generated from multiple sources at periodic intervals."

The CGE&Y brief also notes that a company and its outsourcing provider must command a clear, realistic view of inherent risks and challenges in order to develop the proper strategies. Key issues it advises to address include security, privacy, and confidentiality controls and transition planning for systems, people, and processes.

-- WebCPA staff

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access