203. Hit or Stand? Pros and Cons of Centralizing, Outsourcing and Offshoring Operations (100 Min)
Monday, July 22, 2024: 2:00 PM - 3:40 PM
Education Credits:Course Level: Intermediate; 2 Accounting CPEs (NASBA/BMO) 1.6 Nursing CNEs contact hours
Speaker(s)
Description
As costs continue to rise and margins continue to shrink, organizations are constantly challenged to try to do more with less. To control costs and maximize operational efficiency, agencies are exploring options to centralize certain back-office functions or even consider outsourcing. Other agencies have made the decision to offshore rather than keep staff domestically. Agencies are also looking at AI as a potential killer app to reduce their overall efficiency. Big decisions and changes within your organization require a SWOT analysis to understand and evaluate the right options for your organization. This session will cover the risks, benefits, and potential financial impact of making a change as well as the organizational impact of each option.
Learning Objectives
1. Identify which functions to consider and what questions to ask during the evaluation process.
2. Evaluate benefits or risks associated with each potential option: centralizing, outsourcing, offshoring, and using technology like AI.
3. Explain the administrative and general (A&G) cost benchmarks and how to use them in completing a cost/benefit analysis.
Handout(s)