How to Use Outsourcing to Win Big
To compete, you have to go in with a playbook: one that capitalizes on the strengths of your team, considers the deal from every angle and continuously moves key players into position across and inside your portfolio.
To win, you have to execute your game plan with precision and agility – ready to switch gears if the tide starts to turn – from the kick-off until the final touchdown. In this playbook, you'll see our top five plays for streamlining the accounting functions of every portfolio company you own. It all starts with systematizing your portfolio company's process and the professionalization goes on from there. Check out our five killer plays:
# 1: The Hook
Hire a reputable BPO to make process systemization a byproduct of their onboarding process – not a focus of yours. Onboarding that leaves tackles weak spots and disparate processes will ensure siloes give way to well-documented, universal set of desktop procedures.
# 2: The Reverse
Make the most of your portfolio company's in-house talent by empowering their ownership of value-driven accounting tasks. If you have rework that that's necessary but not business-critical, let skilled offshore talent take it on.
#3: The Toss
Get your reporting back on track by choosing a BPO that codifies KPIs into the initial service level agreement that delivers on-time, accurate reporting is a matter of contractual obligation. One provider means one deliverable, so you can deploy this play in multiple portfolio companies.
#4: The Option
Stop fighting with your portfolio company's technology by bringing in a tech-agnostic BPO. Providers that can work within your portfolio's existing technology can meet you where you already are, or help you update to new technology when you're ready.
#5: The Sweep
Implement the same process across your entire portfolio for leaner deliverables and right-sized PC teams. Agile BPOs can also eliminate re-implementation headaches in your buy-and-build strategy, for a winning track record exit after exit.
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Looking for more? Check out our full starting lineup of PE resources HERE (with blogs, infographics, videos and more).