ReSourcePhoenix.com loves high growth companies on the cusp of going public. They need sophisticated financial services but don’t have the capital to invest in the requisite accounting infrastructure. That makes them perfect clients for ReSourcePhoenix.com, a financial application service provider.
BPAmoco is one of the world’s leading providers of energy and petrochemicals. As the third largest integrated oil company in the world, it enjoys considerable reach and scale. BPAmoco recognized that its core skills revolve around the products that it markets to its customers. Its accounting and transaction functions are not part of that core. We can certainly get comfortable with a third-party providing that service, allowing us to focus our attention on those things that we are good at and need to be good at, suggests David Hulf, CFO of BPAmoco Oil Europe. But only an outsourcer of equal stature would be able to supply BPAmoco’s needs.
PricewaterhouseCoopers (PwC) and BP Amoco (BPA) have embarked on a significant outsourcing collaboration that has the potential of being a watershed event.
Global business organizations increasingly understand the value of outsourcing their non-core functions. Outsourcing allows companies to retain their focus on their core tasks so they can remain competitive, along with many other benefits. But the leading issue is that companies need to demonstrate to their shareholders ways in which to increase share value, and many look to outsourcing for that support says David Narrow, global leader for the finance and accounting BPO practice at PricewaterhouseCoopers.
The study results provide valuable information and insights on global trends and developments in this important field, in terms of company experience, executive attitudes, satisfaction levels, strategic benefits, and usage by country and industry.
Argosy Gaming Co. has made a significant turnaround in the last year. As of 1999′s first quarter earnings that ended March 31, it continues to see record profits. Argosy made a net income of $2.9 million in the first quarter of 1999, compared to lasts year’s net loss of $2.5 million. A lot of the turnaround is a result of its effort to have a lean corporate structure and to outsource functions that aren’t core to the operations, says Dale Black, vice president and CFO.
The accountancy firm Ernst and Young is in the second year of a joint venture arrangement with Shell International Limited; a venture that has propelled their newly formed company TASCO (The Accounting Services Company) into a number-crunching super company on the European scene.
We’re paying increasing attention to non-IT or business process outsourcing (BPO) services over the coming year. The growth of BPO is an important emerging industry phenomenon that is driving tremendous value into the buyers that choose it. The British Petroleum/PricewaterhouseCoopers relationship offers a highly successful example of this phenomenon.
I live in a state of permanent dissatisfaction. I always believe there must be someone doing something better than we are. That statement by Colin Goodall, CFO for British Petroleum (BP) affiliate Sidanco and formerly CFO for BP/Europe, may explain his role as a pioneer of key business process outsourcing deals.
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