Wipfli’s Outsourcing Trends Report offers a comprehensive analysis of current outsourcing practices, based on a survey of 360 C-suite leaders. The report highlights the increasing adoption of outsourcing as a strategic tool for accessing high-value expertise and enhancing efficiency.
- Key Findings
- Rising Adoption: Nearly 75% of surveyed leaders have outsourced business functions or executive roles, with 78% doing so in the past six months.
- Positive Outcomes: 93% of organizations reported benefits such as time and cost savings, reduced stress, and improved focus on strategic goals.
- Types of Outsourced Work
- Finance and Accounting: 47% of panelists outsourced these functions.
- Technology: 46% outsourced tech-related work.
- HR-Related Work: About 34% of respondents outsourced HR functions.
- Selection Criteria
- Top Factors: Industry expertise, data privacy, and cost are the primary considerations for selecting outsourced partners.
- Future Trends
- Executive-Level Outsourcing: Growing interest in outsourcing roles like CTO and CISO for specialized expertise.
- Expert Insights
- Christina Trapp, Wipfli: “Outsourcing is increasingly viewed as a strategic tool for talent access and innovation, not just a cost-saving measure.”
- Addressing Common Concerns
- Quality and Security: The report provides solutions to common outsourcing concerns, emphasizing the need for careful planning, clear communication, and aligned goals.
Wipfli’s report underscores the evolving role of outsourcing from a cost-saving measure to a strategic asset for accessing specialized talent and driving innovation. For successful outsourcing, organizations must focus on careful planning and strong partnerships.
