Squeezing Out Costs from the Finance Function:

The Benefits of a Shared Services Model
No matter how strategic the role m...
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Squeezing Out Costs from the Finance Function: The Benefits of a Shared Services Model: Manish Vora of WNS, a sponsor company at the marcus evans CFO Summit 2014, on how CFOs can cut costs from the finance function.

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Squeezing Out Costs from the Finance Function: The Benefits of a Shared Services Model: Manish Vora of WNS, a sponsor company at the marcus evans CFO Summit 2014, on how CFOs can cut costs from the finance function.

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Squeezing Out Costs from the Finance Function: The Benefits of a Shared Services Model: Manish Vora of WNS, a sponsor company at the marcus evans CFO Summit 2014, on how CFOs can cut costs from the finance function.

  1. 1. Squeezing Out Costs from the Finance Function: The Benefits of a Shared Services Model No matter how strategic the role may have become, the CFO is not in an enviable position. CFOs across all major industries are facing the classic, “deliver more with less” dilemma. The emphasis is not just on delivering growth, but on profitable growth. Interview with: Manish Vora, Corporate Senior Vice President – Sales Head, APAC & Middle East, WNS As the role of Chief Financial Officers (CFO) becomes more strategic and focused on delivering profitable growth, many are taking advantage of a shared services model for their finance and accounting processes, according to Manish Vora, Corporate Senior Vice President – Sales Head, APAC & Middle East, WNS. “Centralising functions under one roof helps CFOs squeeze out costs and at the same time helps in standardising processes and improving service quality,” he adds. WNS is a sponsor company at the upcoming marcus evans CFO Summit 2014, in the Gold Coast, Australia, 16 - 18 March 2014. How is the business landscape evolving for the CFO community? What do you perceive as opportunities and challenges for CFOs? There is a clear shift in the role of the CFO today. The role that traditionally had a single-minded, conventional focus on finance is far more strategic now. From driving efficient operations, reducing costs, improving regulatory compliance, creating stakeholder value, mitigating risks and enhancing return on investment on key business investments, the CFO is often viewed as an architect of the organisation’s future. Also, the increased complexities of the business environment demand enhanceed focus on controls and compliance. To overcome these challenges, a scalable, cost-efficient and effective shared services model can prove invaluable. Could they leverage shared services to act as a catalyst for organisational growth? How could it be an indispensable tool for CFOs? A mature shared services model can provide a competitive edge to any organisation. By centralising finance functions and other back-office activities under one roof, shared services centres are able to reduce costs and also provide process standardisation, best-in-class practices, scalability to support growth and flexibility to support business cycles. A mature shared service centre is one that provides end-to-end support to the organisation, and leverages the power of technology and data analytics to the fullest. Many CFOs have mature shared services set up already while many more are on their way to consolidating processes within a shared services environment. CFOs have squeezed significant cost out of their environment by moving their finance shared services to an offshore location, and we see that as a fastgrowing trend in the near future. An added advantage of leveraging offshore shared services is that it allows CFOs to focus on more strategic areas like enterprise risk, compliance, innovation, analytics and profitability. What role can a partner like WNS play in helping CFOs achieve their goals? Can you highlight some benefits that outsourcing can deliver to CFOs looking at improving profitability? As a mature Business Process Management (BPM) partner, WNS has the capability of extending end-to-end support to the CFO’s office with the right combination of domain expertise, process excellence, technology and analytics solutions to support new and emerging business demands. Given the higher labour costs in developed countries compared to other locations such as the Philippines, India or South Africa, it makes tremendous business sense to engage a partner who can leverage its offshore delivery infrastructure to provide high quality finance shared services solutions and provide cost savings ranging from 40 to 60 percent. Most importantly, a BPM partner like WNS can impact business outcomes and assist in making the finance shared services more effective and efficient. This is a compelling value proposition for CFOs. A scalable, cost-efficient and effective shared services model can prove invaluable
  2. 2. 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 and participants 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 WNS WNS (NYSE:WNS) is a leading global Business Process Management (BPM) company. WNS delivers an entire spectrum of business process management services such as customer care, finance and accounting, human resource solutions, research and analytics, technology solutions, and industry-specific back-office and front-office processes. WNS has over 26,630 professionals across 32 delivery centers world-wide, including China, Costa Rica, India, the Philippines, Poland, Romania, South Africa, Sri Lanka, UK and US. www.wns.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/ManishVora

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