Backsourcing: The latest accountancy trend?
The accountancy sector has traditionally relied on outsourcing, with one out of three internal audit departments worldwide now outsourcing at least some of their work. Outsourcing can bring a range of benefits, but what happens when it goes wrong and the outsourced service provider fails to meet expectations?
After decades of outsourcing, the market has been experiencing a greater prevalence of back-sourcing, also known as insourcing. Backsourcing involves bringing back in-house functions and business processes that had previously been outsourced to external suppliers. What’s more, where backsourcing had previously largely been implemented by banks and large corporations with the requisite scale and resources, new technologies mean that this trend is now being seen across different sectors and within smaller organisations.
Read the full article on Accountancy Age.