Can outsourcing cut costs?

Louis N. Benoit, partner, Losier, Dorion and

Larocque, Tracadie, New Brunswick

Yes, outsourcing can save costs, especially in a small community like ours, where most of the businesses are small or mediumsized. These organizations can effectively save salaries and costs by outsourcing their payroll activities to their financial institution or by having specialized external services handle their bookkeeping.

Elizabeth Kosteniuk, sole practitioner, Saskatoon

When the chartered accountant has confidence in the quality of the subcontractors work and its sta ing practices, outsourcing can provide good inexpensive service to clients. My concerns, however, are a lack of job opportunities for young CAs, lessening personal attention to client accounts and an overly competitive environment for all CAs.

John T. Holdstock, partner, KPMG, Victoria

Outsourcing complete functional areas such as finance, HR or IT is becoming a major trend. It should not be looked at as a cost-cutting exercise but, instead, as a way to transform the organization. To maximize its benefits, it is necessary to partner with an organization that is committed to best practices and technology solutions.