To reap the benefits of cost-saving and efficiency, outsourcing has become an integral part of organizations in every sector of the economy. However, the pervasiveness of outsourcing comes with a cost. Simply put, user organizations (or companies using outsourced services) are subject to greater scrutiny with respect to governance and control certification requirements, pressing service providers to adhere to a broad range of performance standards, service level agreements and regulatory requirements. Increasingly, user organizations require their service providers to give assurance that the controls exercised on their behalf are operating effectively.
 
Service providers should contemplate their current reporting practices and improve on their corporate governance. Alternatives now exist to enhance reporting capabilities while containing costs. Staying focused on what really matters: The service provider's path to better governance, discusses:

• The evolving reporting landscape
• Assurance and reporting alternatives
• Reporting leading industry practices
• Adopting tested methodologies

The path ahead may not be straight, but it is clear. Service providers willing to take the first steps and stay focused on what really matters will be better positioned to reap ongoing rewards.