Mindfields

Lessons from the offshore frontier

Lessons from the offshore frontier

11 Oct 2013 | The Australian Financial Review

For all those companies in the thick of offshoring jobs in their back and front offices, it is heartening to know even veterans find it hard. Deutsche Bank did its first big “finance transformation” between 2005 and 2009. At the time, it also pioneered the offshoring of statutory reporting to shared service centres it owns in the Philippines and India, that Australian companies are just starting to do now.

In outsourcing parlance, this sort of work is “higher up the value chain” - it requires skill and an understanding of the business as opposed to low value, high volume work typically outsourced, or offshored. This includes modelling, equity research, legal, human resources, finance and information technology work, according to outsourcing and valuation consultancy Mindfields.

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