Smart offshoring can yield huge savings

Companies can potentially increase their back office offshore savings by over 50 percent by selectively integrating transformation and process improvement efforts into their globalization initiatives, according to research from The Hackett Group, an Answerthink company. The Fortune 500 could generate over $91 billion annually, or about $182 million on average per company, by strategically combining "Lift & Shift" efforts (which move back office processes overseas without first improving them) with "Transform & Shift" initiatives (where processes are optimized and then taken offshore). What's the key? Careful planning and analysis to determine which processes to offshore and whether or not to integrate transformation, and a staged approach to offshoring over a five to ten year period.

For more on using offshoring to your advantage:
- see this Tekrati article