By uncovering new insights around tax, finance, risk management and financial crime, managed services can truly transform key operations – they won’t just be more efficient but more effective.
Transforming cost reduction into value creation
This is where managed services can change the game. Where outsourcing once helped companies take cost out of the business, managed services now focuses on adding value across all elements of the value chain. Yes, it will deliver cost efficiency, but that’s more a function of the fact that most organizations still require a fair degree of transformation in their core functions.
The real magic happens when deep domain expertise is combined with global reach and a state of the art technology stack that leverages both new technologies and common data sets. In this way, managed services can solve businesses’ most complex challenges around their core functions – ensuring that they are not just run with an eye on compliance, but with a vision for the future.
By uncovering new insights around tax, finance, risk management and financial crime, managed services can truly transform key operations – they won’t just be more efficient but more effective. They’ll add new value and competitive advantage which is even more critical is a more fast-moving business landscape.
Successful managed services requires a rich skillset
But when considering managed services relationships, business leaders need to be aware that this is a market not everyone can play in. Bringing the magic requires a rich tapestry of scale, geographic footprint, technology capabilities and – crucially – technical expertise and qualifications (including potentially certain licences) that few are capable of combining.
Managed services is rapidly becoming a key weapon in the C-suite arsenal, capable of addressing needs that outsourcing does not and one that we’re seeing more and more companies add, which, if nothing else, should beg the question, “How are you managing without managed services?”
Summary
Managed services has its roots in outsourcing – but it’s not the same. The distinction is an important one to understand for all CFOs and COOs. Managed services can solve businesses’ most complex challenges around their core functions – ensuring that they are not just run with an eye on compliance, but with a vision for the future.
