How do you let go of finance professionals affected by restructuring? This was the question that faced Lawrance Lee when international law firm Linklaters outsourced its general ledger and account payable processes in 2010. Because the business process outsourcing vendor in India will be doing their job, six finance staffers had to be let go.
When Lawrance Lee flew to India in 2010 to check out the 140,000-strong business process outsourcing (BPO) company that was to take over the GL and A/P of Linklaters, an international law firm, the Asia finance chief was impressed.
Accounting firm KPMG has no offices in the South Pole, yet it recently sent to the Antarctic, on various occasions, a manager from the Chinese practice, someone else from India, and two US-based executives.
In Part 1 of this interview, Colin Sampson, Senior VP and CFO for Asia Pacific & Japan, and Frederic Laluyaux (pictured), Global Vice President for performance optimisation and finance line of business, both of German soft
Until recently, the image of pragmatic capitalism is one that laughs at the notion of volunteer work, sustainable practices and community harmony. But consumer, employee and shareholder pressure, climate-change worries and the threat of regulations are changing that.
“The majority of the security vendors in China are in manufacturing,” observes Singapore-born Terence Yap, who is CFO and vice chairman of China Security & Surveillance, Inc. (CSST). “That’s very bloody — too many guys there. We decided to break the mould and to consider the blue ocean environment.”