Globalizing Finance? Not So Fast
On the question of globalizing finance operations, the jury is in.
Executives in large companies today are taking a fresh look at global finance operations. Some organizations have not moved any of their finance activities offshore when really they should. Others may be better served by steering clear. Meanwhile, early adopters of finance offshoring are pushing to expand their finance globalization efforts as they look for every efficiency they can find. These finance organizations are shifting more and more activities offshore and are establishing consistent and integrated systems and processes across the global enterprise. Which raises these questions:
- How much is enough?
- What’s the smart move in today’s uncertain environment?
- If you’re already operating a global finance function, should you stay where you are, expand, or pull back?
- And if you’re not, is this the time to start?
To get at the different sides of the issue, we talked with CFOs and finance leaders in 51 corporations in 15 countries. Taken together, they represent 10 percent of Fortune 500 revenues. This briefing summarizes the results of those interviews.