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Financial Function Outsourcing (FFO) could provide skills and talents that are not available to a company’s in-house staff. It can help to address staffing issues and labour shortages. Successful FFO may result in existing in-house employees being reassigned to higher value activities.
FFO allows access to specialised resources and technologies, which can be shared and help to improve processes and productivity of the business.
Many companies do not have core skills in managing finance, so FFO can help to reduce the risks associated with ineffective in-house processes. An outsourcing provider allows a company to use its dedicated financial resources and thus leaving it free to concentrate on its core business. Effective financial management will then help to drive the value enhancement of the business.