Everybody seems to be in the cloud or moving to the cloud, but who is really doing it the right way? What is the right way? More importantly, how is security being managed in the cloud?
Though 70% of companies have at least a portion of their computing infrastructure already in the cloud, four in 10 IT decision makers (40%) are concerned that they cannot keep pace with cloud technology’s evolution and demands.
Although discussions around cloud have intensified, considerations around cloud security are still a relatively new area for many companies. The implications of moving to the cloud with or without a well-defined strategy are being felt today; and with so many data leaks being attributed to misconfigured cloud databases, or through poor credential management, companies are right to be worried.
Given the current rate of digital change, every organization across every industry should be thinking about the cloud, migrating to the cloud and of course, security, however, one issue that continues to arise is the gap between organizations’ perceived security strength and their actual security strength. With over 4,000 ransomware attacks happening every day, it’s no wonder that security is one of the top concerns and priorities for CIOs in 2019.
Join us for this invitation-only networking opportunity with your peers to discuss best practices that IT executives are implementing to fully maximize the value of the cloud while strengthening security and maintaining control of costs.
View this presentation to gain more actionable insight on how to modernize your Finance Department to bring more value to your business. CFO's in today's hyper-changing business environment cannot afford to operate in a traditional back office model.
Watch the recording of this session and learn why nearshore outsourcing is the next big thing and why a lot of companies are looking into Costa Rica in particular.
It’s no secret that Accounts Payable is one of the main areas of opportunity for automation and optimization within a finance department.
In this video recap of the webinar held on 2/26/ 2019; Auxis’ RPA Consulting Director Eduardo Diquez together with The CFO Leadership Council, UiPath & Ephesoft discussed a perspective on what it really takes to optimize the end-to-end AP function, its key benefits, key technology solutions in the market, and more.
What was covered:
- What does Modern Finance really mean?
- Digitization as a Key Element of the Modern Finance Organization
- Most Common Tools you should be implementing as part of your Digital Finance journey
- What’s driving RPA’s growth?
- Implementation Strategies & Alternatives
- How Outsourcing can help finance executives self-fund their Digital Finance Strategy and drive faster outcomes
Everybody seems to be in the cloud or moving to the cloud, but who is really doing it the right way? What is the right way? More importantly, how is security being managed in the cloud?
Though 70% of companies have at least a portion of their computing infrastructure already in the cloud, four in 10 IT decision makers (40%) are concerned that they cannot keep pace with cloud technology’s evolution and demands.
Although discussions around cloud have intensified, considerations around cloud security are still a relatively new area for many companies. The implications of moving to the cloud with or without a well-defined strategy are being felt today; and with so many data leaks being attributed to misconfigured cloud databases, or through poor credential management, companies are right to be worried.
Given the current rate of digital change, every organization across every industry should be thinking about the cloud, migrating to the cloud and of course, security, however, one issue that continues to arise is the gap between organizations’ perceived security strength and their actual security strength. With over 4,000 ransomware attacks happening every day, it’s no wonder that security is one of the top concerns and priorities for CIOs in 2019.
Join us for this invitation-only networking opportunity with your peers to discuss best practices that IT executives are implementing to fully maximize the value of the cloud while strengthening security and maintaining control of costs.
View this presentation to gain more actionable insight on how to modernize your Finance Department to bring more value to your business. CFO's in today's hyper-changing business environment cannot afford to operate in a traditional back office model.
Watch the recording of this session and learn why nearshore outsourcing is the next big thing and why a lot of companies are looking into Costa Rica in particular.
It’s no secret that Accounts Payable is one of the main areas of opportunity for automation and optimization within a finance department.
In this video recap of the webinar held on 2/26/ 2019; Auxis’ RPA Consulting Director Eduardo Diquez together with The CFO Leadership Council, UiPath & Ephesoft discussed a perspective on what it really takes to optimize the end-to-end AP function, its key benefits, key technology solutions in the market, and more.
What was covered:
- What does Modern Finance really mean?
- Digitization as a Key Element of the Modern Finance Organization
- Most Common Tools you should be implementing as part of your Digital Finance journey
- What’s driving RPA’s growth?
- Implementation Strategies & Alternatives
- How Outsourcing can help finance executives self-fund their Digital Finance Strategy and drive faster outcomes
In this video, Eric Liebross, Cortney Dominguez and Ana Maria Romero explain what makes Costa Rica the premiere nearshore destination for US-based companies and how you can leverage its competitive advantages as an outsourcing destination.
Managing an Asia-based offshore model can be a very challenging and daunting endeavor, even for the largest and more seasoned U.S-based companies. Long distances, language barriers and time zone differences are just some of the issues executives face when dealing with traditional off-shore outsourcing operations. As more and more companies realize this, Latin America has emerged as a preferred Shared Services & Outsourcing destination, with Costa Rica being one of the major players.
What was covered:
- Relevance of outsourcing and nearshoring for US based companies.
- Nearshoring to Latin America: Specific advantages of nearshore outsourcing over traditional offshore outsourcing models.
- Costa Rica as the premier nearshore outsourcing destination in Latin America.
- Savings you can expect when nearshoring to Costa Rica.
- About auxis’ outsourcing center in Costa Rica.
Speakers:
- Eric Liebross
- Cortney Dominguez
- Ana María Romero Montoya
Watch the recording of our dynamic, open roundtable discussion with a panel of Intelligent Automation experts to get practical insights on how to successfully scale your automation program.
Watch the recording of this session and learn how to structure a winning AP automation strategy from beginning to end. We will show demos of Intelligent Data Capture and RPA in action for invoice processing.
In the webinar, Eric Liebross, Auxis Senior VP of Back Office Optimization, provides insights into some of the truths and myths of Robotic Process Automation (RPA), some of the significant benefits it can provide, demonstrated a real-world live demo, and more.
We hope you find the highlighted information in this presentation useful for your RPA initiatives.
View the live demo here: https://www.auxis.com/rpa-demo
Watch the webinar replay: https://www.hfsresearch.com/webinars/webinar-getting-rpa-to-scale
Access all HfS webinars: www.hfsresearch.com/webinars/
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Despite all its promise, the majority of RPA projects today never progress beyond pilot programs. Fortunately, there are enough successful enterprise-scale RPA implementations available today to learn about well-planned RPA initiatives that go beyond the hype.
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What you'll learn:
- What are the key lessons learned from early RPA deployments?
- What are the main levers to scale those deployments?
- How are the RPA technologies and approaches evolving?
Speakers:
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- Sharda Cherwoo, Senior Advisory Partner, Intelligent Automation, EY
- Kashif Mahbub, Vice President, Product Marketing, Automation Anywhere
- Phil Fersht, CEO and Chief Analyst, HfS
- Tom Reuner, Senior Vice President, Intelligent Automation and IT Services, HfS
- John O'Brien, Research Director, RPA Customer Experiences, HfS
Robotic Process Automation RPA Guide for Financial InstitutionsVishal Raina
Robotic Process Automation (RPA) is all about building intelligent automations for an enterprise.
Centrally automating, managing & tracking business processes that are executed by robots in all the departments of an organisation.
By adopting RPA, financial institutions can overcome many of these barriers like back-office transactional, rules-based operations and achieve operational efficiency, flexibility, accuracy and enhanced performance at an enterprise level.
This is the presentation used for a webinar we co-hosted with The CFO Leadership Council in April 2019. This presentation helps organizations see the value of adding Nearshore Outsourcing to their current operating model.
In this video, Eric Liebross, Cortney Dominguez and Ana Maria Romero explain what makes Costa Rica the premiere nearshore destination for US-based companies and how you can leverage its competitive advantages as an outsourcing destination.
Managing an Asia-based offshore model can be a very challenging and daunting endeavor, even for the largest and more seasoned U.S-based companies. Long distances, language barriers and time zone differences are just some of the issues executives face when dealing with traditional off-shore outsourcing operations. As more and more companies realize this, Latin America has emerged as a preferred Shared Services & Outsourcing destination, with Costa Rica being one of the major players.
What was covered:
- Relevance of outsourcing and nearshoring for US based companies.
- Nearshoring to Latin America: Specific advantages of nearshore outsourcing over traditional offshore outsourcing models.
- Costa Rica as the premier nearshore outsourcing destination in Latin America.
- Savings you can expect when nearshoring to Costa Rica.
- About auxis’ outsourcing center in Costa Rica.
Speakers:
- Eric Liebross
- Cortney Dominguez
- Ana María Romero Montoya
Watch the recording of our dynamic, open roundtable discussion with a panel of Intelligent Automation experts to get practical insights on how to successfully scale your automation program.
Watch the recording of this session and learn how to structure a winning AP automation strategy from beginning to end. We will show demos of Intelligent Data Capture and RPA in action for invoice processing.
In the webinar, Eric Liebross, Auxis Senior VP of Back Office Optimization, provides insights into some of the truths and myths of Robotic Process Automation (RPA), some of the significant benefits it can provide, demonstrated a real-world live demo, and more.
We hope you find the highlighted information in this presentation useful for your RPA initiatives.
View the live demo here: https://www.auxis.com/rpa-demo
Watch the webinar replay: https://www.hfsresearch.com/webinars/webinar-getting-rpa-to-scale
Access all HfS webinars: www.hfsresearch.com/webinars/
Understanding the key elements of a transformational enterprise-wide RPA implementation
Despite all its promise, the majority of RPA projects today never progress beyond pilot programs. Fortunately, there are enough successful enterprise-scale RPA implementations available today to learn about well-planned RPA initiatives that go beyond the hype.
In this webinar, experts from HfS, Automation Anywhere, EY and Societe Generale will discuss the evolution of Intelligent Automation and RPA, and discuss the challenges (and solutions) are faced and overcome during a transformational enterprise-wide RPA implementation. What are the must-have functional capabilities that make an RPA platform rapidly deployable, highly scalable, granularly secure and, therefore, truly transformational for an enterprise?
What you'll learn:
- What are the key lessons learned from early RPA deployments?
- What are the main levers to scale those deployments?
- How are the RPA technologies and approaches evolving?
Speakers:
- Sumeet Pathak, Senior Vice President, Global Solution Center, Societe Generale
- Sharda Cherwoo, Senior Advisory Partner, Intelligent Automation, EY
- Kashif Mahbub, Vice President, Product Marketing, Automation Anywhere
- Phil Fersht, CEO and Chief Analyst, HfS
- Tom Reuner, Senior Vice President, Intelligent Automation and IT Services, HfS
- John O'Brien, Research Director, RPA Customer Experiences, HfS
Robotic Process Automation RPA Guide for Financial InstitutionsVishal Raina
Robotic Process Automation (RPA) is all about building intelligent automations for an enterprise.
Centrally automating, managing & tracking business processes that are executed by robots in all the departments of an organisation.
By adopting RPA, financial institutions can overcome many of these barriers like back-office transactional, rules-based operations and achieve operational efficiency, flexibility, accuracy and enhanced performance at an enterprise level.
This is the presentation used for a webinar we co-hosted with The CFO Leadership Council in April 2019. This presentation helps organizations see the value of adding Nearshore Outsourcing to their current operating model.
Winning CFO Approval for Expense Management AutomationCertifyInc
In this webinar, we examine the top priorities of today’s CFOs and how automation helps to achieve these goals. We walk through five strategic themes that your business case must address if you want buy-in from the c-suite.
It’s not a secret that the need to modernize traditional finance operations and evolve into a “Digital Finance” organization has become a key priority for finance leaders.
In this video recap of the webinar held on 12/11/ 2019; Raul Vega, Auxis CEO, discussed the key risks and challenges organizations typically face as part of their transformation journey, and how to develop and execute a strategy that provides the business case and outcomes you expect based on your specific company size and needs.
What was covered:
- What does Modern Finance really mean?
- Digitization as a Key Element of the Modern Finance Organization
- Most Common Tools you should be implementing as part of your Digital Finance journey
- What’s driving RPA’s growth?
- Implementation Strategies & Alternatives
- How Outsourcing can help finance executives self-fund their Digital Finance Strategy and drive faster outcomes
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Enterprise Financial Management: Solutions for the Office of the CFOCatalyst Investors
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• Enterprise Financial Management: Solutions for the Office of the CFO – a deeper look into software and tech-enabled services enabling businesses and their finance function to work more efficiently
Watch the recording of this session and learn how to effectively leverage benchmarks to build a roadmap of efficiency opportunities in your Finance & SSC organization through real-world examples.
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How Automation is Driving Efficiency Through the Last Mile of ReportingAggregage
https://www.corporatefinancebrief.com/frs/26690636/how-automation-is-driving-efficiency-through-the-last-mile-of-reporting
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Creating value with finance nearshore outsourcing auxis webinar presentation-1
1. April 17, 2019
Creating Value with
Finance Nearshore
Outsourcing
Why CFOs Need to
Take a Closer Look
WEBINAR
2. It’s no secret that CFO’s are
increasingly leveraging
outsourcing as part of their
back office strategy
3. 59% of organizations
are looking to increase its
reliance on BPO
On average, organizations are
managing 83% of their F&A function
under a Shared Services Model
(45%) or Outsourcing (38%)
Sources:
-2017 KPMG SSC & Outsourcing Report
-CFO Signals: What North America’s Top Finance Executives are Thinking – and Doing (Deloitte 2018 Q3)
63% of CFOS agree that in 3 years
from now the majority of their team’s
time will be spent on analysis,
prediction and decision support rather
than accounting, reporting and
compliance
4. 53% of CFOs worry that the finance
function is reactive or that data and
information-sharing processes are not
streamlined
Declining relevance of current finance skillset is a
top concern of CFOs going into 2019, especially
Analytics and digital technologies
81% of CFOS see identifying
and targeting areas of new value
across the business as one of
their main responsibilities
The role of the Finance Department
is evolving…
Sources:
-The CFO Reimagined: from Driving Value to Building the Digital Enterprise. Accenture 2018
-Finance priorities in 2019 – Gartner
5. 91% of finance leaders in the
U.S. reported challenges finding
skilled accounting professionals
with unemployment level in the
sector being 2.5% (lower than
the national average)
…and market
conditions are
forcing you to change
Nearly half (49%) of U.S.
CFOs believe that the nation's
economy will be in recession
by the end of 2019
-Robert Half 2019 F&A Salary Guide
-Randstad 2019 Salary Guide
- Duke CFO Global Business Outlook
6. So…What are the real drivers
behind outsourcing?
1. Switch your focus from
transactional to becoming
a TRUE business partner
2. Expand access to talent
3. Increase operational
flexibility
4. Leverage outsourcer’s
technologies to innovate
faster
5. Optimize costs and get
faster paybacks
7. If outsourcing is a
key tool to help drive
this change, What
does it take to make
outsourcing work?
8. • Cost savings is a given – it’s about the
refocusing of your organization.
• Efficient, automated processes driving
high performance
• Collaborative, an “extension of your
team” with improved metrics and
reporting
• Close to home with similar work
schedules and cultural affinity
• Flexible and customized to your
environment and business needs
• Enables your team to become a Modern
Finance Organization
Outsourcing
that works!
VS
• Mainly driven by labor arbitrage,
not strategic focus
• Operational challenges are not
improved, just relocated
• “Black Box”- lack of control and
visibility over the operation
• Significant time zone and
geographical differences with
language and cultural barriers
• “Cookie-cutter” approach – nickel
and dime pricing model
• Creates additional burdens to
your team
Traditional
Outsourcing
10. • Latin America represents 24% of
the “Top 100” Global Outsourcing
Destinations (Tholons 2016)
• In 3 years, US CFOs expect that
44% of their finance workforce
will work from nearshore locations
• True nearshore locations for
North America include Costa
Rica, Colombia, Mexico,
Panama, Guatemala and
the Caribbean.
Geographic Proximity
Time Zone
Low Cost
Large and Strong Workforce
Cultural Affinity
Language Skills
Lower Turnover
Infrastructure
Primary Drivers
Latin America has
emerged as a main
destination for US
back office operations
11. Costa Rica has been
consistently ranked as the
#1 nearshore destination
in Latin America
• Hub to 350+ multinationals
• Central Time zone with quick direct flights to most major U.S. Cities
• #1 English proficiency in Latin America with almost 100% of employees in multinational companies being local
• No Army! It was abolished in 1948
• #1 Education system in Latin America with the highest literacy rate (98%)
Safest city in Latin America - recognized worldwide for its politically stability and peace.
• Strong cultural affinity to the US
• #1 country in Innovation in Latin America by Global Innovation Index (2017)
• #1 Place to retire by International Living (2018)
• Solid Infrastructure & Utilities
12. 100% of SSCs are in
expansion mode….
Source: 2016 Auxis Survey – A Deeper Exploration of SSCs in LatAm
Shared Services in Latin America
Top Functions in Scope90% of SSCs in the region
are multi-function
13. -The Wall Street Journal
ONE TO ONE
LABOR SAVINGS
25%+
SPAN OF
CONTROL
ADJUSTMENTS
PRODUCTIVITY
EFFICIENCIES
10%-20% 10%-20%
One to one comparison of
the total labor cost of a
resource in US vs. a
Nearshore Location
Most times the org structure
can be releveled to achieve
better span of control
Efficiencies gained from
centralization, process
improvement and automation
(e.g. RPA, Operational
Analytics, etc.)
Savings Opportunity Roadmap from
Outsourcing to Costa Rica
14. Average savings for
transactional roles
NY/San Francisco
$46-62K
Average
savings
per head
49-56%
Chicago
38-47%
$31-45K
Average
savings
per head
29-40%
$21-33K
Average
savings
per head
Miami/Atlanta
Austin/Dallas/
Houston
27-38%
$19-31K
Average
savings
per head
15. Average savings for
transactional roles
NY/San Francisco
$46-62K
Average
savings
per head
49-56%
Chicago
38-47%
$31-45K
Average
savings
per head
29-40%
$21-33K
Average
savings
per head
Miami/Atlanta
Austin/Dallas/
Houston
27-38%
$19-31K
Average
savings
per head
Link to download full report:
www.auxis.com/2019-US-finance-labor-report-
outsourcing-costa-rica
17. • Developed a Hybrid Shared Services Model for the client’s North
American Finance Operations to support the consolidation of 3 distinct
business units, including a new acquisition into one SSC organization.
• Implemented F&A Outsourcing from Costa Rica (over 50 FTEs) for
transactional functions. Reduced operating costs by 33%, with an IRR of
90% and a payback period of less than 2 years.
• Real-time, detailed operational reporting and dashboards with PowerBI
• Applied RPA for multiple processes (e.g. AP, cash application, month-end
closing support, etc.)
• Aggressive retail expansion in Latin America. High cost, highly manual
finance back office in US not suited to absorb that expansion.
• Built a hybrid shared services model by incorporating BPO capabilities
from Costa Rica to support LatAm, and additional support to US
operations in a second phase.
• Reduced costs by 54%; IRR of 329%; payback of less than 6 months
• Designing RPA Automation for multiple activities in US and Latin America
• Though the organization was already running its finance operations very
lean, additional cost reduction synergies were mandated to free up
resources to grow the digital channel.
• Implemented BPO to serve the US from Costa Rica, absorbing AP, T&E,
General Accounting and Cash Applications.
• Achieved 40% cost reduction plus enhanced process efficiencies,
automation and internal controls.
• Automated AP Invoice Processing with RPA and developed a custom
vendor portal.
Global Media
Company
Headquartered in NY
Leading Retailer with
2,500+ stores around
the world
Multinational
Consumer Products
19. Outsourcing Scoping Framework
Transactional, Rules
Based Activities
Non-Core
Competencies
Processes/activities
needing optimization
Areas with skill
shortages and/or high
turnover
Key Indicators
Cost Savings Opportunity
of 20% or higher
Heavily tenured
organization
Management to staff
ratios of less than 5:1
Transactional activity
focus of 75% or higher
Performance
improvements of 10-15%
or higher
High attrition rates
Need for emerging
technologies (specialized
skillsets)
Candidates
for
Outsourcing
Areas of
Opportunity
20. How to Get Started
BPO Opportunity Assessment
As the first step, we recommend performing a rapid BPO Opportunity
Assessment to quantify the savings and efficiency opportunities of
incorporating nearshore capabilities to your finance organization
Key questions to answer as
part of the assessment:
1. Which of your processes make sense to outsource?
2. What is the overall savings opportunity and business case?
3. Do you have the scale required to outsource?
4. What is the optimal organizational model to support your
volumes and complexity?
5. What challenges exist in your environment to incorporating
a nearshore model?
6. What improvement opportunities exist beyond labor
savings (e.g. automation, control enhancements, etc.)?
7. What is the implementation timeline?
Approximately 2-3 Weeks
22. So what does the
future look like?
22
78% of young accounting
professionals say that
there has never been
a more exciting time
to be in the field…
….Don’t let them down.
Give them the right tools
and role to make everyone
successful!
- Source: The CFO Reimagined: from Driving Value to
Building the Digital Enterprise. Accenture 2018
23. Key Takeways…
• The role of the Finance Department is evolving and you cannot afford
to keep the status quo.
• Outsourcing has become a key tool to help drive the change towards
modernization.
• “Outsourcing done right” goes beyond cost savings. It’s
about increased focus, scalability, flexibility, innovation, etc.
• Nearshore brings strategic advantages over traditional outsourcing
models.
• A BPO Opportunity Assessment will help you quickly understand the
savings, efficiency gains and fit to your organization.