Once you've made the decision to add outsourcing receivables as part of your ARM strategy, how do you make it work? Partnering with the right provider is key. Don't sign with anyone until you read this.
Outsourcing has proven to be an effective business strategy for organizations worldwide since the 1990s. For whatever reason, however, some organizations continue to avoid a serious look at its possibilities for their company. Maybe outsourcing can't help you streamline your processes, reduce costs, and increase growth. But what if it can? In this issue, we start a basic five-part series on outsourcing. It's a good read for novice "outsourcers" too. Take a look.
This second in a five part series provides "must know" information on selecting the right outsourcing provider.
Part Three in our series looks at the backbone of any outsourcing agreement – the documents defining the nuts and bolts of the process.
Like passing the baton in a relay or the hand-off in football – communication and execution of an agreed upon strategy is critical to implementing a successful outsourcing project.
This final article in our series discusses the use of Balanced Scorecards as a means to measure the success of your outsourcing initiative.
Some things just bear repeating. We've chosen to re-publish this article for the simple reason that it remains a valuable resource for firms looking for a workable strategy to improve growth now and carry that success forward.
Outsourcing your A/R doesn't have to be an "all or nothing" proposition. Find out how targeted outsourcing can help your company solve a number of the challenges you may be facing – and improve cash flow in the bargain.