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Article

Title: A Journey Overseas

Author: Boedeker, Russell R Article Type: Product Analysis
Source: Strategic Finance, v88 n9 p22(8) Publication Date: Mar 2007
  ISSN: 1524-833X
  Illustrations: Charts, Graphs
URL of Publication: http://www.strategicfinancemag.com

Corillian Corp., an Internet banking software company, is well aware of what is needed to transform a company from solely domestic operation to an overseas operation. The company also was able to take the concept and move it to successful project completion. A team of three from finance and operations developed an offshore operation in just over three months with almost no up-front out-of-pocket costs. The company's reasons for choosing offshoring and the 10-step process used to get it right are discussed. Corillian only took on the challenges after having formed a core team of offshoring advocates, understanding the impetus for change, surveying key stakeholders and best practices, dealing with stakeholder concerns, determining the engagement model, selecting the country, reviewing potential vendors, conducting vendor site visits, and finalizing vendor selection. For instance, to form the core team of advocates, the approach taken was the formation of a partnership between finance and operations. Corillian also identified three basic types of catalysts: straight cost reduction through payment of lower wages, the possibility of forming a local manufacturing or design operation in another country, and an inability to find enough affordable talent to permit future growth. Five important stakeholders' questions are listed, and guidelines for surveying best practices are offered.

Special Features: Charts, Graphs

Products:
Offshoring

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