Interview with: Scott Stavretis, Chief Executive Officer, Acquire Asia Pacific, a sponsor company at the marcus evans CFO Summit 2014, on cost-cutting by outsourcing.
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Interview with: Scott Stavretis, Chief Executive Officer, Acquire Asia Pacific, a sponsor company at the marcus evans CFO Summit 2014, on cost-cutting by outsourcing.

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Interview with: Scott Stavretis, Chief Executive Officer, Acquire Asia Pacific, a sponsor company at the marcus evans CFO Summit 2014, on cost-cutting by outsourcing.

Interview with: Scott Stavretis, Chief Executive Officer, Acquire Asia Pacific, a sponsor company at the marcus evans CFO Summit 2014, on cost-cutting by outsourcing.

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Interview with: Scott Stavretis, Chief Executive Officer, Acquire Asia Pacific, a sponsor company at the marcus evans CFO Summit 2014, on cost-cutting by outsourcing. Interview with: Scott Stavretis, Chief Executive Officer, Acquire Asia Pacific, a sponsor company at the marcus evans CFO Summit 2014, on cost-cutting by outsourcing. Document Transcript

  • Why CFOs Need to Outsource Some Business Processes Part of this responsibility is in identifying areas where costs can be minimised, and in most organisations, CFOs assist other departments (e.g. operations and IT) in developing strategies in cost savings. What is key to success for such outsourced projects? We have all heard of some companies reshoring their call centres. Interview with: Scott Stavretis, Chief Executive Officer, Acquire Asia Pacific Most Chief Financial Officers (CFOs) understand the need to focus on growing the organisation, but cost still ends up being their primary responsibility, according to Scott Stavretis, Chief Executive Officer, Acquire Asia Pacific. “The largest outlay in most organisations is labour cost, especially here in Australia where wage rates are higher than most countries; for example the labour in Australia is five times higher than the Philippines. Labour arbitrage is a key trend in assisting organisations in optimising costs and for most companies, key to surviving globally,” he says. Acquire Asia Pacific is a sponsor company at the marcus evans CFO Summit 2014, in the Gold Coast, Australia, 16 - 18 March 2014. What opportunities do CFOs have to optimise costs? CFOs are able to optimise costs within their departments by looking at ways to outsource some back and front office tasks. Functions such as bookkeeping, accounts payable, financial reporting can be outsourced. It is a common misconception that offshoring is limited to basic data entry type roles. Places like the Philippines have a 93 per cent literacy rate and have 470,000 college graduates each year. This provides us with a pool of highly qualified talents to assist organisations with knowledge type roles like accounting and bookkeeping. CFOs also have a more strategic role in maintaining the financial health of their organisation. process. A call centre is not just for responding to a customer’s product enquiry or helping them work their way through the product list. The customer must have the good experience so they will return for repeat purchases. Outsourcing to an organisation that lacks a proper sales strategy usually ends up in a mess, either because of a compliance issue or because the wrong contract was struck. They end up cutting corners and doing everything they can to close a sale, instead of focusing on the product they have at hand. The key to success is finding the right partner, one that will ensure the company’s integrity is held intact. That is achieved through culture, compliance, regulatory and customer satisfaction. CFOs need to find a partner that can tick all these boxes before they consider price or location. They must understand and be a business partner in every sense of the word. They need to take their culture and infuse it in the outsourced call centre’s environment. I have found that finding a partner that understands the compliance issues and the regulatory framework of the territory and industry is very important. To do this properly, the outsourcing partner needs be committed in delivering global standards at every aspect of the organisation and by every employee they employ. Why should companies focus on increasing the profitability of existing customers? Why is that essential for long-term success and how can it be done with an outsourced call centre? We all know that keeping a customer happy is a lot cheaper than acquiring a new one. The focus on retention campaigns is often underutilised in the Australian marketplace and should be a priority, if not more of a priority than the sales campaign. The right partner will have the skills and experience to know when and how to engage with customers to ensure they stay a repeated customer. Outsourcing allows organisations access to professionals, processes, and best practises garnered from other campaigns that these outsourced call centres have gained. It is about outsourcing to an organisation that understands sales and the sales Compliance is absolutely key in sales. Australia is highly regulated when it comes to telemarketing, so CFOs need to partner with an organisation that understands the laws and the hurdles of the Australian market. The customer must have the right experience to come back and purchase more products What trends should CFOs prepare their organisations for? Their competitors are outsourcing and offshoring more and more. Australian organisations are expected to increase their offshoring functions by 20 per cent over the next two years. If they do not move with the pace, they will get left behind, while their competitors continue to cut costs. It is the CFO’s responsibility to ensure that costs are under control and not any higher than their competitors’ in order to maximise margins.
  • The F i nan ce marcus evans N etw o rk – Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations. About the CFO Summit 2014 This unique forum will take place at the Surfers Paradise Marriott Resort & Spa, Australia, 16 - 18 March 2014. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on streamlining operations, enabling optimal efficiency along the value chain, tackling global uncertainty and bolstering financial performance. www.cfo-anz.com Please note that the Summit is a closed number business of event participants and the strictly Contact Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division limited. Tel: Email: + 357 22 849 313 press@marcusevanscy.com For more information please send an email to info@marcusevanscy.com All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com About Acquire Asia Pacific Acquire Asia Pacific is one of the leading multinational BPO providers delivering incomparable onshore and offshore solutions to leading organisations across the globe. The company has evolved into a full scale BPO and outsourced business contact center, gaining exponential growth every year mainly from client referrals. Today, Acquire employs nearly 4,000 highly trained professionals and operates state of the art contact centers in Australia and the Philippines. www.acquireap.com About marcus evans Summits marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, case studies, roundtables and one-to-one business meetings. For more information, please visit: www.marcusevans.com Upcoming Events CFO Summit (North America) - www.cfosummits.com Chief Procurement Officer Summit (North America) - www.cpo-summit.com To view the web version of this interview, please click here: www.cfo-anz.com/ScottStavretis