Outsourcing Financial Management

Outsourcing Financial Management is a task often performed by financial analysts who lack sufficient knowledge of outsourcing financials and of the overall outsourcing agreement. Outsourcing Management Services will perform all of the functions necessary for sound financial management of the outsourcing agreement. These functions include:

• Monthly variance reports highlighting and explaining deviations between supplier's charges and the forecast or budget.
• Development and implementation of a chargeback methodology to ensure proper allocation of supplier's charges to business units.
• Review and analyze invoice to validate all supplier's charges
• Preparing annual budget for the outsourced service
• Monthly forecasts (or at a frequency in line with client's accounting processes) of the supplier's charges, highlighting variances from annual budget.

We will work closely with the client's financial department to ensure that sourcing supplier's charges are as accurate as possible.

Financial Management SLAs

Outsourcing Management Services will establish service levels for our review of the supplier's charges. These service levels will include performance credits if there are incorrect or inappropriate charges on the outsourcing invoice that we do not identify.

Key Benefits

• Ensures accuracy of sourcing supplier's outsourcing invoice
• Cost savings resulting from detailed analysis of charges that deviate from forecast
• Improved outsourcing budget and forecasting for client
• Improved management of business usage through solid recharge methodology.

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