Mindfields

New wave of jobs go offshore

New wave of jobs go offshore

17 Jun 2013 | The Australian Financial Review

Following the earlier wave of IT offshoring, numerous companies over the past 18 months have moved finance teams overseas. Those under serious cost pressures are offshoring whole teams, to reduce the potential for customer or political backlash.

However, some claim even those who don’t directly offshore, often the high-profile companies with heavily unionised workforces, will do it indirectly. Mohit Sharma, an outsourcing consultant and commercial valuer at Mindfields, calls this “pseudo offshoring”. It involves a prominent global outsourcer or professional services firm in Australia taking over the work. But then they offshore it to achieve cost savings for themselves and the client. For several years, outsourcers have been suggesting Australian companies should also outsource more sophisticated roles. Some have done so, including statutory reporting now being done by Genpact for Suncorp, but it is rare at this stage and often doesn’t stack up economically due to the smaller number of people involved.

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